TD Cowen Raises Lam Research (NASDAQ:LRCX) Price Target to $125.00

Lam Research (NASDAQ:LRCX) had its price target lifted by stock analysts at TD Cowen from $100.00 to $125.00 in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective would suggest a potential upside of 29.71% from the stock’s previous close.

Several other equities analysts have also recently weighed in on LRCX. B. Riley restated a “buy” rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Mizuho increased their target price on shares of Lam Research from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Wells Fargo & Company boosted 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, July 8th. KeyCorp upped their price objective on shares of Lam Research from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, Stifel Nicolaus increased their price objective on shares of Lam Research from $92.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.09.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $96.37 on Thursday. The stock has a market cap of $123.27 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.33 and a beta of 1.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 2.21. Lam Research has a fifty-two week low of $56.32 and a fifty-two week high of $102.59. The firm’s 50-day simple moving average is $93.96 and its 200 day simple moving average is $82.38.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, research analysts anticipate that Lam Research will post 3.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lam Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smallwood Wealth Investment Management LLC bought a new stake in shares of Lam Research in the first quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new position in Lam Research in the 2nd quarter valued at approximately $26,000. West Paces Advisors Inc. purchased a new position in Lam Research in the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC bought a new stake in Lam Research during the 4th quarter valued at $27,000. Finally, Park Square Financial Group LLC bought a new stake in Lam Research during the 4th quarter valued at $31,000. Institutional investors 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.