Shares of Lam Research Corp. (NASDAQ:LRCX) saw unusually-strong trading volume on Thursday . Approximately 2,703,895 shares traded hands 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.

Several research firms have issued reports on LRCX. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target (up previously from $88.00) on shares of Lam Research Corp. in a report on Monday, April 18th. B. Riley reissued a “buy” rating and set a $96.00 price target (up previously from $90.00) on shares of Lam Research Corp. in a report on Thursday, April 21st. Cowen and Company boosted their price target on Lam Research Corp. from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, April 21st. Deutsche Bank AG reissued a “buy” rating and set a $95.00 price target on shares of Lam Research Corp. in a report on Thursday, April 21st. Finally, Zacks Investment Research lowered Lam Research Corp. from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $98.53.

The company has a 50 day moving average price of $87.99 and a 200-day moving average price of $79.87. The stock has a market cap of $14.29 billion and a P/E ratio of 17.08.

Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.16. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Lam Research Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. Analysts anticipate that Lam Research Corp. will post $6.97 EPS for the current fiscal year.

Other large investors recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Lam Research Corp. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 254,937 shares of the company’s stock valued at $20,247,000 after buying an additional 7,212 shares in the last quarter. Royce & Associates LLC increased its stake in shares of Lam Research Corp. by 33.2% in the fourth quarter. Royce & Associates LLC now owns 81,425 shares of the company’s stock valued at $6,467,000 after buying an additional 20,275 shares in the last quarter. Advantus Capital Management Inc increased its stake in shares of Lam Research Corp. by 4.2% in the fourth quarter. Advantus Capital Management Inc now owns 15,415 shares of the company’s stock valued at $1,224,000 after buying an additional 617 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Lam Research Corp. during the fourth quarter valued at $1,768,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Lam Research Corp. by 3.2% in the fourth quarter. Advisors Asset Management Inc. now owns 37,208 shares of the company’s stock valued at $2,955,000 after buying an additional 1,153 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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