Lam Research PT Raised to $82.00 at Needham & Company LLC (LRCX)
Research analysts at Needham & Company LLC raised their target price on shares of Lam Research (NASDAQ:LRCX) from $67.00 to $82.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 23.31% from the company’s current price.
Lam Research (NASDAQ:LRCX) traded up 0.75% on Friday, hitting $67.00. The stock had a trading volume of 311,061 shares. Lam Research has a 52 week low of $44.11 and a 52 week high of $67.85. The stock’s 50-day moving average is $62.52 and its 200-day moving average is $55.82. The company has a market cap of $10.863 billion and a price-to-earnings ratio of 23.44.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.26 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.44 earnings per share. Lam Research’s revenue was up 38.7% compared to the same quarter last year. Analysts expect that Lam Research will post $4.40 EPS for the current fiscal year.
LRCX has been the subject of a number of other recent research reports. Analysts at Deutsche Bank raised their price target on shares of Lam Research from $62.00 to $81.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at B. Riley raised their price target on shares of Lam Research from $67.00 to $80.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Lam Research in a research note on Wednesday. They now have a $70.00 price target on the stock, up previously from $56.00. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Lam Research has an average rating of “Buy” and an average price target of $68.17.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.