Raymond James Financial Raises Lam Research (NASDAQ:LRCX) Price Target to $110.00

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Lam Research (NASDAQ:LRCX - Get Free Report) had its target price raised by Raymond James Financial from $90.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Raymond James Financial's target price would indicate a potential upside of 16.08% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Morgan Stanley upped their price target on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Summit Insights lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.05.

Lam Research Stock Down 0.1%

NASDAQ LRCX traded down $0.07 during mid-day trading on Thursday, reaching $94.77. 4,923,346 shares of the company's stock traded hands, compared to its average volume of 11,944,173. The company has a market cap of $121.22 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 1.40 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. Lam Research has a 1-year low of $56.32 and a 1-year high of $102.59. The company has a fifty day simple moving average of $93.65 and a 200-day simple moving average of $82.23.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 59.69% and a net margin of 29.07%. The firm had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Lam Research's revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research will post 3.71 EPS for the current year.

Institutional Trading of Lam Research

Several hedge funds have recently added to or reduced their stakes in LRCX. FMR LLC increased its stake in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its stake in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Invesco Ltd. grew its stake in Lam Research by 909.5% during the fourth quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock worth $1,217,663,000 after buying an additional 15,188,173 shares during the last quarter. Northern Trust Corp raised its stake in shares of Lam Research by 1,067.0% in the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock worth $1,146,235,000 after acquiring an additional 14,509,407 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Lam Research by 6,383.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after acquiring an additional 13,365,317 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

About Lam Research

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.