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Investment analysts at RBC Capital upped their price target on shares of Lam Research (NASDAQ:LRCX) from $57.00 to $62.00 in a note issued to investors on Monday, Analyst Ratings.Net reports. RBC Capital’s price target suggests a potential upside of 8.43% from the stock’s previous close.

Shares of Lam Research (NASDAQ:LRCX) traded up 1.98% on Monday, hitting $58.315. 1,448,569 shares of the company’s stock traded hands. Lam Research has a 52-week low of $43.35 and a 52-week high of $58.94. The stock’s 50-day moving average is $55.38 and its 200-day moving average is $53.40. The company has a market cap of $9.446 billion and a price-to-earnings ratio of 20.16.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 23rd. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. Analysts expect that Lam Research will post $4.41 EPS for the current fiscal year.

The company also recently declared a special dividend, which is scheduled for Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 9th.

A number of other firms have also recently commented on LRCX. Analysts at B. Riley reiterated a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. They now have a $67.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Lam Research in a research note on Thursday, April 24th. They now have a $56.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Lam Research from $58.00 to $62.00 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research presently has a consensus rating of “Buy” and a consensus target price of $62.98.

Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.

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