Lam Research (NASDAQ:LRCX) Price Target Raised to $85.00 at Wells Fargo & Company

Lam Research (NASDAQ:LRCXGet Free Report) had its price objective hoisted by investment analysts at Wells Fargo & Company from $82.00 to $85.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.11% from the stock’s current price.

Several other brokerages have also issued reports on LRCX. B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

View Our Latest Stock Analysis on Lam Research

Lam Research Stock Performance

Shares of Lam Research stock opened at $75.15 on Thursday. The business’s fifty day simple moving average is $75.62 and its 200 day simple moving average is $79.15. The firm has a market capitalization of $96.69 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. As a group, analysts anticipate that Lam Research will post 3.51 EPS for the current year.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently added to or reduced their stakes in LRCX. Quarry LP lifted its stake in Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 56 shares during the last quarter. Advisory Alpha LLC bought a new stake in Lam Research during the second quarter worth about $256,000. Cetera Investment Advisers lifted its stake in Lam Research by 2.1% during the second quarter. Cetera Investment Advisers now owns 28,382 shares of the semiconductor company’s stock worth $30,224,000 after purchasing an additional 585 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Lam Research during the second quarter worth about $18,140,000. Finally, Heritage Wealth Management Inc. bought a new stake in shares of Lam Research in the 2nd quarter valued at about $276,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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