Lam Research (NASDAQ:LRCX) Raised to Buy at Wall Street Zen

Lam Research (NASDAQ:LRCX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

LRCX has been the subject of a number of other reports. KeyCorp raised their price objective on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Citigroup raised their price objective on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research note on Friday. Summit Insights lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Evercore ISI raised their price objective on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Price Performance

LRCX opened at $96.37 on Friday. The stock has a fifty day simple moving average of $93.96 and a two-hundred day simple moving average of $82.38. The company has a current ratio of 2.21, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a market cap of $123.27 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.68. Lam Research has a 12-month low of $56.32 and a 12-month high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. Research analysts predict that Lam Research will post 3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LRCX. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research during the 1st quarter valued at approximately $26,000. IMG Wealth Management Inc. bought a new stake in Lam Research during the 2nd quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new stake in Lam Research during the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC bought a new stake in Lam Research during the 4th quarter valued at approximately $27,000. Finally, Park Square Financial Group LLC bought a new stake in Lam Research during the 4th quarter valued at approximately $31,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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