DA Davidson Increases Lam Research Corp. Price Target to $63.00 (LRCX)
DA Davidson boosted their price objective on shares of Lam Research Corp. (NASDAQ:LRCX) from $60.00 to $63.00 in a research note issued on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 15.03% from the stock’s previous close.
A number of other firms have also recently commented on LRCX. Analysts at UBS AG raised their price target on shares of Lam Research Corp. from $55.00 to $60.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Lam Research Corp. from $57.00 to $63.00 in a research note to investors on Thursday. They now have a “positive” rating on the stock. Finally, analysts at Piper Jaffray Cos. raised their price target on shares of Lam Research Corp. from $56.00 to $59.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Lam Research Corp. currently has a consensus rating of “Buy” and an average target price of $59.58.
Lam Research Corp. (NASDAQ:LRCX) opened at 54.77 on Friday. Lam Research Corp. has a 1-year low of $31.17 and a 1-year high of $51.00. The stock has a 50-day moving average of $48.59 and a 200-day moving average of $45.91. The company has a market cap of $8.936 billion and a P/E ratio of 80.30.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results 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 previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts expect that Lam Research Corp. will post $4.06 EPS for the current fiscal year.
In other Lam Research Corp. news, SVP Sarah A. O’dowd sold 6,000 shares of the company’s stock on the open market in a transaction dated Monday, October 21st. The stock was sold at an average price of $54.36, for a total transaction of $326,160.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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