Lam Research (NASDAQ:LRCX) has been assigned a $279.00 price objective by stock analysts at Stifel Nicolaus in a report released on Tuesday. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 89.56% from the company’s current price.

A number of other research firms also recently issued reports on LRCX. JPMorgan Chase & Co. dropped their target price on shares of Lam Research from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Citigroup dropped their target price on shares of Lam Research from $239.00 to $216.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. Morgan Stanley dropped their target price on shares of Lam Research from $219.00 to $208.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. BidaskClub upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Finally, KeyCorp dropped their target price on shares of Lam Research from $283.00 to $261.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $231.25.

Shares of NASDAQ LRCX opened at $147.18 on Tuesday. The company has a market capitalization of $23.10 billion, a PE ratio of 8.24, a PEG ratio of 0.59 and a beta of 1.33. Lam Research has a 52-week low of $135.99 and a 52-week high of $234.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company earned $3.46 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities research analysts expect that Lam Research will post 15.51 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. NuWave Investment Management LLC bought a new stake in Lam Research during the 2nd quarter valued at $100,000. Clear Perspective Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter worth $108,000. Signet Financial Management LLC grew its stake in shares of Lam Research by 21,700.0% in the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after acquiring an additional 651 shares in the last quarter. Ruggie Capital Group bought a new stake in shares of Lam Research in the 2nd quarter worth $134,000. Finally, Financial Gravity Wealth Inc. bought a new stake in shares of Lam Research in the 1st quarter worth $165,000. Institutional investors and hedge funds own 89.21% of the company’s stock.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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