Lam Research Corp. Given Average Rating of “Buy” by Brokerages (NASDAQ:LRCX)
Lam Research Corp. (NASDAQ:LRCX) has been given an average rating of “Buy” by the twenty-five ratings firms that are presently covering the company, AnalystRatingsNetwork.com reports. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $61.03.
Several analysts have recently commented on the stock. Analysts at ISI Group initiated coverage on shares of Lam Research Corp. in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $70.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Lam Research Corp. in a research note on Thursday, March 20th. They set a “buy” rating and a $65.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Lam Research Corp. from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 0.38% on Monday, hitting $52.94. 165,552 shares of the company’s stock traded hands. Lam Research Corp. has a 52 week low of $40.68 and a 52 week high of $58.94. The stock has a 50-day moving average of $54.13 and a 200-day moving average of $53.0. The company has a market cap of $8.593 billion and a P/E ratio of 26.40.
Lam Research Corp. (NASDAQ:LRCX) last released its earnings data on Wednesday, January 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Lam Research Corp. will post $4.17 EPS 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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