Lam Research Corp. (NASDAQ:LRCX) saw strong trading volume on Thursday . 2,703,895 shares were traded during mid-day trading, an increase of 17% from the previous session’s volume of 2,313,790 shares.The stock last traded at $88.87 and had previously closed at $89.11.

A number of research analysts have weighed in on the company. Citigroup Inc. raised their price objective on Lam Research Corp. from $94.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 29th. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Friday, July 29th. Stifel Nicolaus raised their price objective on Lam Research Corp. from $93.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Morgan Stanley raised their price objective on Lam Research Corp. from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Finally, Royal Bank Of Canada cut their target price on Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $98.71.

The company’s 50-day moving average price is $87.93 and its 200 day moving average price is $79.72. The stock has a market capitalization of $14.24 billion and a P/E ratio of 17.03.

Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.16. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company earned $1.50 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research Corp. will post $6.97 earnings per share for the current fiscal year.

Other hedge funds recently modified their holdings of the company. 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 in the last quarter. Foresters Investment Management Company Inc. increased its stake in shares of Lam Research Corp. by 115.2% in the fourth quarter. Foresters Investment Management Company Inc. now owns 215,150 shares of the company’s stock valued at $17,087,000 after buying an additional 115,150 shares in 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 in the last quarter. Ashburton Jersey Ltd bought a new stake in shares of Lam Research Corp. during the fourth quarter valued at about $4,754,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Lam Research Corp. by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,317,171 shares of the company’s stock valued at $104,617,000 after buying an additional 38,395 shares in 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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