Investors sold shares of Lam Research Corp. (NASDAQ:LRCX) on strength during trading on Wednesday. $19.11 million flowed into the stock on the tick-up and $81.46 million flowed out of the stock on the tick-down, for a money net flow of $62.35 million out of the stock. Of all equities tracked, Lam Research Corp. had the 0th highest net out-flow for the day. Lam Research Corp. traded up $1.06 for the day and closed at $90.79

Several research firms have commented on LRCX. B. Riley reaffirmed a “buy” rating and issued a $106.00 price target on shares of Lam Research Corp. in a report on Thursday, July 28th. Zacks Investment Research raised shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, May 6th. Pacific Crest upped their price target on shares of Lam Research Corp. from $96.00 to $101.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Stifel Nicolaus upped their price target on shares of Lam Research Corp. from $93.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Lam Research Corp. in a research report on Thursday, July 28th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $98.82.

The stock has a market capitalization of $14.54 billion and a price-to-earnings ratio of 17.39. The firm’s 50 day moving average is $86.60 and its 200-day moving average is $78.88.

Lam Research Corp. (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.16. During the same period in the previous year, the firm earned $1.50 EPS. The firm earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. The firm’s revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Lam Research Corp. will post $6.97 earnings per share for the current year.

Several hedge funds have recently modified their holdings of LRCX. American International Group Inc. increased its stake in shares of Lam Research Corp. by 2.0% in the fourth quarter. American International Group Inc. now owns 68,010 shares of the company’s stock valued at $5,401,000 after buying an additional 1,317 shares during the last quarter. RS Investment Management Co. LLC increased its stake in shares of Lam Research Corp. by 99.3% in the fourth quarter. RS Investment Management Co. LLC now owns 223,205 shares of the company’s stock valued at $17,727,000 after buying an additional 111,210 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of Lam Research Corp. by 161.3% in the fourth quarter. BlackRock Advisors LLC now owns 403,653 shares of the company’s stock valued at $32,058,000 after buying an additional 249,188 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Lam Research Corp. by 0.7% in the fourth quarter. Utah Retirement Systems now owns 28,479 shares of the company’s stock valued at $2,261,000 after buying an additional 200 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its stake in shares of Lam Research Corp. by 6.8% in the fourth quarter. State of Tennessee Treasury Department now owns 359,974 shares of the company’s stock valued at $28,590,000 after buying an additional 22,972 shares during the last quarter.

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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