Lam Research (NASDAQ:LRCX – Get Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
Several other analysts have also recently issued reports on the company. Sanford C. Bernstein dropped their target price on Lam Research to $425.00 in a report on Thursday, October 20th. Barclays lowered their price target on Lam Research from $405.00 to $300.00 and set an “equal weight” rating for the company in a report on Thursday, October 13th. Wells Fargo & Company lowered their target price on Lam Research from $410.00 to $350.00 and set an “equal weight” rating for the company in a report on Thursday, October 20th. Cowen lowered their target price on Lam Research to $430.00 in a report on Thursday, October 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded Lam Research from a “hold” rating to a “buy” rating and raised their target price for the company from $400.00 to $520.00 in a report on Monday, December 12th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $490.32.
Lam Research Stock Performance
NASDAQ:LRCX traded down $1.33 during trading hours on Tuesday, reaching $437.36. The company had a trading volume of 867,431 shares, compared to its average volume of 1,579,919. Lam Research has a 1-year low of $299.59 and a 1-year high of $731.85. The firm has a market cap of $59.65 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. The business’s 50 day moving average price is $425.12 and its 200-day moving average price is $435.31. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.69 and a quick ratio of 1.83.
Lam Research (NASDAQ:LRCX – Get Rating) last issued its earnings results on Wednesday, October 19th. The semiconductor company reported $10.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.54 by $0.88. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Lam Research had a return on equity of 74.74% and a net margin of 26.96%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $8.36 EPS. Research analysts forecast that Lam Research will post 34.63 EPS for the current year.
Institutional Trading of Lam Research
A number of institutional investors have recently modified their holdings of LRCX. Beacon Capital Management LLC acquired a new position in Lam Research during the third quarter worth $32,000. McIlrath & Eck LLC raised its holdings in Lam Research by 185.2% during the third quarter. McIlrath & Eck LLC now owns 77 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Lam Research by 71.7% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 79 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 33 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Lam Research during the second quarter worth $34,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in Lam Research during the third quarter worth $30,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.
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.
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Read More: Lam Research (NASDAQ:LRCX) Upgraded to Buy by StockNews.com