Stifel Nicolaus Raises Lam Research (NASDAQ:LRCX) Price Target to $110.00

Key Points

• Stifel Nicolaus raised its price target for Lam Research from $92.00 to $110.00, indicating a potential upside of 10.79% based on the company's previous close.
• The consensus rating for Lam Research is classified as a "Moderate Buy", with seven analysts recommending hold, seventeen recommending buy, and one recommending strong buy.
• Lam Research's market capitalization is approximately $127 billion, with shares recently opening at $99.29 and a price-to-earnings ratio of 27.67.

Lam Research (NASDAQ:LRCX - Get Free Report) had its price objective increased by analysts at Stifel Nicolaus from $92.00 to $110.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price objective indicates a potential upside of 10.79% from the company's previous close.

Other equities research analysts have also issued reports about the company. Morgan Stanley upped their price objective on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Bank of America reduced their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Oppenheimer reiterated an "outperform" rating and issued a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. The Goldman Sachs Group initiated coverage on Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target for the company. Finally, KeyCorp boosted their price target on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.05.

Lam Research Trading Up 0.7%

NASDAQ:LRCX opened at $99.29 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The firm has a market capitalization of $127.00 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. Lam Research has a one year low of $56.32 and a one year high of $102.59. The business has a fifty day moving average price of $92.79 and a 200-day moving average price of $81.85.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BankPlus Wealth Management LLC increased its stake in shares of Lam Research by 2.0% during the second quarter. BankPlus Wealth Management LLC now owns 5,248 shares of the semiconductor company's stock worth $511,000 after acquiring an additional 105 shares during the period. ORG Partners LLC grew its position in Lam Research by 7.3% during the second quarter. ORG Partners LLC now owns 1,676 shares of the semiconductor company's stock worth $162,000 after buying an additional 114 shares during the period. Fairvoy Private Wealth LLC grew its position in Lam Research by 3.0% during the second quarter. Fairvoy Private Wealth LLC now owns 4,185 shares of the semiconductor company's stock worth $407,000 after buying an additional 120 shares during the period. Rosenberg Matthew Hamilton grew its position in Lam Research by 16.0% during the second quarter. Rosenberg Matthew Hamilton now owns 869 shares of the semiconductor company's stock worth $85,000 after buying an additional 120 shares during the period. Finally, Abundance Wealth Counselors grew its position in Lam Research by 1.1% during the second quarter. Abundance Wealth Counselors now owns 11,537 shares of the semiconductor company's stock worth $1,123,000 after buying an additional 124 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.