Analysts Set Lam Research Co. (LRCX) Price Target at $223.97

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Lam Research Co. (NASDAQ:LRCX) has been assigned a consensus recommendation of “Buy” from the twenty-seven research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $223.97.

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their price objective on Lam Research from $239.00 to $216.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Stifel Nicolaus dropped their price objective on Lam Research from $295.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, July 27th. BidaskClub raised Lam Research from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $165.00 price objective (down from $225.00) on shares of Lam Research in a research note on Tuesday, October 23rd. Finally, ValuEngine cut Lam Research from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th.

Shares of NASDAQ LRCX traded down $3.83 during trading on Monday, reaching $147.85. The stock had a trading volume of 1,870,934 shares, compared to its average volume of 3,847,648. Lam Research has a fifty-two week low of $133.42 and a fifty-two week high of $234.88. The company has a current ratio of 2.66, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $23.54 billion, a PE ratio of 8.27, a PEG ratio of 0.88 and a beta of 1.30.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $3.46 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts predict that Lam Research will post 14.37 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRCX. FMR LLC grew its stake in Lam Research by 51.9% during the 3rd quarter. FMR LLC now owns 3,538,138 shares of the semiconductor company’s stock worth $536,736,000 after purchasing an additional 1,208,149 shares in the last quarter. Swedbank boosted its position in shares of Lam Research by 64.3% during the 2nd quarter. Swedbank now owns 1,795,483 shares of the semiconductor company’s stock worth $310,349,000 after acquiring an additional 702,660 shares in the last quarter. Morgan Stanley boosted its position in shares of Lam Research by 83.1% during the 2nd quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock worth $264,481,000 after acquiring an additional 694,440 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Lam Research during the 2nd quarter worth about $81,818,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Lam Research during the 2nd quarter worth about $454,000. 89.79% of the stock is 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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