Lam Research Corp. (NASDAQ:LRCX) reached a new 52-week high during trading on Tuesday . The company traded as high as $94.88 and last traded at $94.36, with a volume of 1,424,365 shares trading hands. The stock had previously closed at $93.20.

LRCX has been the topic of a number of research reports. Nomura increased their price objective on Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, June 23rd. Zacks Investment Research raised Lam Research Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Pacific Crest set a $101.00 price objective on Lam Research Corp. and gave the company a “buy” rating in a report on Thursday, August 11th. BlueFin Research raised Lam Research Corp. to a “positive” rating in a report on Monday, July 18th. Finally, Cowen and Company cut their price objective on Lam Research Corp. from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, May 16th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $99.21.

The firm’s 50-day moving average is $89.98 and its 200-day moving average is $81.18. The stock has a market cap of $14.85 billion and a price-to-earnings ratio of 17.76.

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

Other large investors recently modified their holdings of the company. American International Group Inc. raised 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 worth $5,401,000 after buying an additional 1,317 shares during the period. RS Investment Management Co. LLC raised 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 worth $17,727,000 after buying an additional 111,210 shares during the period. BlackRock Advisors LLC raised 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 worth $32,058,000 after buying an additional 249,188 shares during the period. Utah Retirement Systems raised 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 worth $2,261,000 after buying an additional 200 shares during the period. Finally, State of Tennessee Treasury Department raised 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 worth $28,590,000 after buying an additional 22,972 shares during the period.

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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