Lam Research Corp. (NASDAQ:LRCX) shares were up 2.2% on Friday . The stock traded as high as $93.43 and last traded at $92.92, with a volume of 1,625,755 shares trading hands. The stock had previously closed at $90.93.

Several research analysts recently weighed in on LRCX shares. B. Riley reissued a “buy” rating and set a $96.00 price target (up from $90.00) on shares of Lam Research Corp. in a research report on Thursday, April 21st. Cowen and Company upped their price target on Lam Research Corp. from $90.00 to $93.00 and gave the company an “outperform” rating in a research 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 research report on Thursday, April 21st. Zacks Investment Research lowered Lam Research Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Finally, Nomura upped their price target on Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $99.21.

The firm’s 50 day moving average is $89.01 and its 200 day moving average is $80.47. The firm has a market capitalization of $14.97 billion and a PE ratio of 17.90.

Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings results 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 firm earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $1.50 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts forecast that Lam Research Corp. will post $6.97 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in LRCX. BlackRock Advisors LLC increased its stake in 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. RS Investment Management Co. LLC increased its stake in 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. I.G. Investment Management LTD. increased its stake in Lam Research Corp. by 55.1% in the fourth quarter. I.G. Investment Management LTD. now owns 68,200 shares of the company’s stock valued at $5,416,000 after buying an additional 24,234 shares in the last quarter. State of Tennessee Treasury Department increased its stake in 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 in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Lam Research Corp. during the fourth quarter valued at about $1,768,000.

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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