Lam Research Corp. (NASDAQ:LRCX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $95.77 and last traded at $94.67, with a volume of 910,396 shares traded. The stock had previously closed at $93.81.

A number of brokerages have issued reports on LRCX. Citigroup Inc. upped their target price on Lam Research Corp. from $94.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research raised Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research report on Friday, July 29th. Morgan Stanley upped their target price on Lam Research Corp. from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Stifel Nicolaus upped their target price on Lam Research Corp. from $93.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Royal Bank Of Canada decreased their target price on Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $99.21.

The firm has a market capitalization of $15.17 billion and a P/E ratio of 18.14. The firm’s 50 day moving average price is $90.63 and its 200 day moving average price is $81.47.

Lam Research Corp. (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.16. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 earnings per share. Equities research analysts predict that Lam Research Corp. will post $6.97 EPS for the current year.

Several hedge funds and institutional investors have modified their holdings of the company. I.G. Investment Management LTD. increased its position in shares of 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. RS Investment Management Co. LLC increased its position 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. Finally, BlackRock Advisors LLC increased its position 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.

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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