Lam Research (NASDAQ:LRCX) Upgraded to Strong-Buy at Erste Group Bank

Lam Research (NASDAQ:LRCX) was upgraded by equities research analysts at Erste Group Bank to a “strong-buy” rating in a report released on Thursday, MarketBeat reports.

Other analysts have also recently issued reports about the stock. Cantor Fitzgerald restated an “overweight” rating and set a $115.00 price target (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Morgan Stanley upped their price target on shares of Lam Research from $87.00 to $94.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. TD Securities reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Oppenheimer boosted their price objective on shares of Lam Research from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $107.09.

Lam Research Stock Performance

NASDAQ LRCX traded down $7.87 during trading on Thursday, hitting $99.51. 23,149,390 shares of the company’s stock traded hands, compared to its average volume of 11,415,345. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The stock has a market capitalization of $125.94 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 1.29 and a beta of 1.65. Lam Research has a 12-month low of $56.32 and a 12-month high of $108.02. The business has a 50 day moving average of $97.50 and a 200-day moving average of $83.96.

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

Institutional Investors Weigh In On Lam Research

Institutional investors have recently made changes to their positions in the business. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research in the 1st quarter valued at $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Lam Research in the 2nd quarter valued at $26,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of Lam Research in the 2nd quarter valued at $27,000. Hedge funds and other 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.