Lam Research (NASDAQ:LRCX) Coverage Initiated at The Goldman Sachs Group

Research analysts at The Goldman Sachs Group assumed coverage on shares of Lam Research (NASDAQ:LRCX) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $115.00 price target on the semiconductor company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 13.04% from the company’s previous close.

Several other research analysts have also issued reports on LRCX. TD Securities dropped their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a “hold” rating in a research note on Thursday, April 24th. Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Wells Fargo & Company upped their price target on shares of Lam Research from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, UBS Group lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.48.

Lam Research Price Performance

LRCX stock opened at $101.73 on Thursday. Lam Research has a 52 week low of $56.32 and a 52 week high of $109.34. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $88.50 and a two-hundred day simple moving average of $79.87. The firm has a market capitalization of $130.12 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the firm posted $7.79 earnings per share. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. Analysts anticipate that Lam Research will post 3.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lam Research

Several institutional investors have recently bought and sold shares of LRCX. Meridian Wealth Management LLC increased its position in Lam Research by 1.4% during the 1st quarter. Meridian Wealth Management LLC now owns 9,732 shares of the semiconductor company’s stock valued at $707,000 after buying an additional 130 shares in the last quarter. Bay Rivers Group boosted its stake in Lam Research by 0.6% in the 2nd quarter. Bay Rivers Group now owns 22,404 shares of the semiconductor company’s stock worth $2,181,000 after purchasing an additional 130 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Lam Research by 10.1% in the 1st quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 141 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Lam Research by 1.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 12,498 shares of the semiconductor company’s stock worth $909,000 after purchasing an additional 146 shares in the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in shares of Lam Research by 3.8% in the second quarter. Fiduciary Financial Group LLC now owns 4,073 shares of the semiconductor company’s stock worth $394,000 after buying an additional 150 shares during the last quarter. 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.