Lam Research Corp. Sets New 1-Year High at $52.42 (LRCX)
Shares of Lam Research Corp. (NASDAQ:LRCX) hit a new 52-week high during trading hours on Thursday, Stock Ratings News reports. The company traded as high as $52.42 and last traded at $52.16, with a volume of 835,086 shares trading hands. The stock had previously closed at $50.57.
Several analysts have recently commented on the stock. Analysts at B. Riley raised their price target on shares of Lam Research Corp. from $58.00 to $63.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Northland Securities initiated coverage on shares of Lam Research Corp. in a research note to investors on Wednesday, August 28th. They set an “outperform” rating on the stock. Finally, analysts at Northland Capital Partners initiated coverage on shares of Lam Research Corp. in a research note to investors on Wednesday, August 28th. They set an “outperform” rating and a $58.00 price target on the stock. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Lam Research Corp. has a consensus rating of “Buy” and a consensus target price of $54.04.
Lam Research Corp. has a 1-year low of $31.98 and a 1-year high of $52.31. The stock has a 50-day moving average of $49.67 and a 200-day moving average of $47.08. The company has a market cap of $8.594 billion and a P/E ratio of 76.62.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.09. The company had revenue of $986.00 million for the quarter, compared to the consensus estimate of $981.93 million. During the same quarter last year, the company posted $0.60 earnings per share. Lam Research Corp.’s revenue was up 32.9% compared to the same quarter last year. On average, analysts predict that Lam Research Corp. will post $3.83 earnings per share for the current fiscal year.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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