Lam Research’s (LRCX) Buy Rating Reaffirmed at Needham & Company LLC

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $90.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 19.76% from the company’s previous close.

Several other research analysts have also recently issued reports on LRCX. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Mizuho decreased their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Trading Up 0.9 %

Shares of Lam Research stock opened at $75.15 on Thursday. The company has a fifty day simple moving average of $75.62 and a 200-day simple moving average of $79.15. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $96.69 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.53 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. On average, equities analysts forecast that Lam Research will post 3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Lam Research

A number of large investors have recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in Lam Research during the 4th quarter valued at about $817,000. Vontobel Holding Ltd. increased its holdings in Lam Research by 195.7% during the 4th quarter. Vontobel Holding Ltd. now owns 357,013 shares of the semiconductor company’s stock valued at $25,787,000 after acquiring an additional 236,277 shares in the last quarter. Bogart Wealth LLC increased its holdings in Lam Research by 900.0% during the 4th quarter. Bogart Wealth LLC now owns 1,550 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 1,395 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in Lam Research by 861.5% during the 4th quarter. Catalyst Financial Partners LLC now owns 4,423 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 3,963 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Lam Research by 842.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 509,753 shares of the semiconductor company’s stock valued at $37,416,000 after acquiring an additional 455,673 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.