Lam Research Corp. Given New $65.00 Price Target at Northland Securities (LRCX)
Stock analysts at Northland Securities upped their price target on shares of Lam Research Corp. (NASDAQ:LRCX) from $58.00 to $65.00 in a report issued on Thursday, Analyst Ratings Net reports. Northland Securities’ price objective suggests a potential upside of 24.50% from the stock’s previous close.
In other Lam Research Corp. news, SVP Sarah A. O’dowd unloaded 6,000 shares of the stock on the open market in a transaction dated Monday, October 21st. The shares were sold at an average price of $54.36, for a total transaction of $326,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Lam Research Corp. (NASDAQ:LRCX) opened at 52.21 on Thursday. Lam Research Corp. has a one year low of $31.17 and a one year high of $51.00. The stock’s 50-day moving average is $48.59 and its 200-day moving average is $45.91. The company has a market cap of $8.518 billion and a price-to-earnings ratio of 79.11.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.10. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts expect that Lam Research Corp. will post $3.83 EPS for the current fiscal year.
A number of other firms have also recently commented on LRCX. Analysts at Northland Capital Partners raised their price target on shares of Lam Research Corp. from $58.00 to $65.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Lam Research Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. They now have a $64.00 price target on the stock, up previously from $45.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Lam Research Corp. from $57.00 to $66.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Lam Research Corp. presently has an average rating of “Buy” and an average price target of $57.56.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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