Lam Research Corp. PT Raised to $63.00 (LRCX)
Equities researchers at Susquehanna hoisted their price objective on shares of Lam Research Corp. (NASDAQ:LRCX) from $57.00 to $63.00 in a research report issued on Thursday, American Banking News reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 15.03% from the stock’s previous close.
In other Lam Research Corp. news, SVP Sarah A. O’dowd sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $54.36, for a total value of $326,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
LRCX has been the subject of a number of other recent research reports. 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. Separately, analysts at Pacific Crest raised their price target on shares of Lam Research Corp. from $55.00 to $62.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Lam Research Corp. from $60.00 to $63.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $59.58.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 3.34% during mid-day trading on Thursday, hitting $54.77. 4,466,864 shares of the company’s stock traded hands. 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 price-to-earnings ratio of 80.30.
Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly 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 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. On average, analysts predict that Lam Research Corp. will post $4.06 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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