Lam Research (NASDAQ:LRCX – Get Free Report) had its target price boosted by research analysts at Mizuho from $100.00 to $115.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective indicates a potential upside of 13.78% from the stock’s current price.
Several other equities research analysts also recently commented on the stock. TD Securities dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Citigroup reaffirmed a “buy” rating and set a $108.00 price objective (up from $87.00) on shares of Lam Research in a report on Monday, July 7th. Evercore ISI upped their price target on Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group assumed coverage on Lam Research in a research report on Thursday, July 10th. They set a “buy” rating and a $115.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.14.
Check Out Our Latest Report on Lam Research
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the company earned $7.79 EPS. The firm’s revenue was up 24.4% compared to the same quarter last year. Sell-side analysts expect that Lam Research will post 3.71 EPS for the current fiscal year.
Institutional Investors Weigh In On Lam Research
A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Lam Research by 6.9% in the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company’s stock valued at $9,389,358,000 after acquiring an additional 8,364,375 shares during the period. FMR LLC increased its position in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after buying an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter valued at approximately $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company’s stock.
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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