Lam Research PT Raised to $90.00 at DA Davidson (LRCX)
Stock analysts at DA Davidson hoisted their price target on shares of Lam Research (NASDAQ:LRCX) from $80.00 to $90.00 in a report issued on Thursday. The firm currently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 25.84% from the stock’s previous close.
LRCX has been the subject of a number of other recent research reports. Analysts at Piper Jaffray initiated coverage on shares of Lam Research in a research note on Wednesday. They set an “overweight” rating on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Lam Research in a research note on Wednesday. They now have a $80.00 price target on the stock, up previously from $67.00. Finally, analysts at Nomura raised their price target on shares of Lam Research from $70.00 to $75.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $70.45.
Lam Research (NASDAQ:LRCX) opened at 71.52 on Thursday. Lam Research has a 52-week low of $46.20 and a 52-week high of $71.83. The stock has a 50-day moving average of $65.25 and a 200-day moving average of $56.94. The company has a market cap of $11.596 billion and a price-to-earnings ratio of 25.21.
Lam Research (NASDAQ:LRCX) last released its earnings data 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. On average, analysts predict that Lam Research will post $4.40 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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