Lam Research Corp. (NASDAQ:LRCX)’s share price reached a new 52-week high on Monday . The stock traded as high as $95.77 and last traded at $94.67, with a volume of 910,396 shares changing hands. The stock had previously closed at $93.81.

LRCX has been the subject of several research reports. B. Riley reaffirmed a “buy” rating and issued a $106.00 target price on shares of Lam Research Corp. in a research report on Thursday, July 28th. Needham & Company LLC reaffirmed a “buy” rating on shares of Lam Research Corp. in a research report on Saturday, June 25th. Nomura lifted their target price 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. Zacks Investment Research raised Lam Research Corp. from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Friday, May 6th. Finally, Stifel Nicolaus lifted their target price on Lam Research Corp. from $93.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Lam Research Corp. currently has an average rating of “Buy” and a consensus price target of $99.21.

The stock has a market capitalization of $14.90 billion and a P/E ratio of 17.81. The firm’s 50 day moving average price is $91.07 and its 200 day moving average price is $82.11.

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

An institutional investor recently raised its position in Lam Research Corp. stock. I.G. Investment Management LTD. increased its position in shares of Lam Research Corp. (NASDAQ:LRCX) by 55.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,200 shares of the company’s stock after buying an additional 24,234 shares during the period. I.G. Investment Management LTD.’s holdings in Lam Research Corp. were worth $5,416,000 as of its most recent SEC filing.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.