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

Lam Research Co. (NASDAQ:LRCX) has received a consensus rating of “Buy” from the twenty-seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $223.97.

A number of research firms have recently issued reports on LRCX. B. Riley downgraded Lam Research from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $225.00 to $160.00 in a research note on Monday, October 29th. Susquehanna Bancshares restated a “neutral” rating and issued a $165.00 price target (down from $225.00) on shares of Lam Research in a research note on Tuesday, October 23rd. UBS Group downgraded Lam Research from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Mizuho restated a “hold” rating and issued a $165.00 price target on shares of Lam Research in a research note on Wednesday, October 17th. Finally, Stifel Nicolaus set a $279.00 price target on Lam Research and gave the stock a “buy” rating in a research note on Tuesday, October 16th.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Lam Research by 0.9% in the second quarter. BlackRock Inc. now owns 11,252,078 shares of the semiconductor company’s stock worth $1,944,921,000 after purchasing an additional 102,790 shares during the last quarter. Janus Henderson Group PLC increased its stake in Lam Research by 4.4% during the second quarter. Janus Henderson Group PLC now owns 5,503,855 shares of the semiconductor company’s stock worth $951,341,000 after acquiring an additional 231,609 shares during the last quarter. LSV Asset Management increased its stake in Lam Research by 9.5% during the third quarter. LSV Asset Management now owns 2,891,119 shares of the semiconductor company’s stock worth $438,582,000 after acquiring an additional 249,745 shares during the last quarter. FMR LLC increased its stake in Lam Research by 92.5% during the second quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock worth $402,737,000 after acquiring an additional 1,119,488 shares during the last quarter. Finally, Swedbank increased its stake in Lam Research by 8.3% during the third quarter. Swedbank now owns 1,944,630 shares of the semiconductor company’s stock worth $295,000,000 after acquiring an additional 149,147 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

Lam Research stock opened at $151.69 on Monday. The firm has a market capitalization of $23.60 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. Lam Research has a 12 month low of $133.42 and a 12 month high of $234.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.66 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.46 EPS. Equities research analysts forecast that Lam Research will post 14.37 earnings per share for the current year.

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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