Lam Research Reaches New 12-Month High at $72.00 (LRCX)
Lam Research (NASDAQ:LRCX) hit a new 52-week high on Monday , Analyst Ratings Network.com reports. The stock traded as high as $72.00 and last traded at $71.21, with a volume of 910,289 shares traded. The stock had previously closed at $71.53.
A number of analysts have recently weighed in on LRCX shares. Analysts at Jefferies Group reiterated a “buy” rating on shares of Lam Research in a research note on Friday. They now have a $84.00 price target on the stock, up previously from $75.00. Separately, analysts at DA Davidson raised their price target on shares of Lam Research from $80.00 to $90.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Lam Research in a research note on Wednesday, July 9th. They set an “overweight” rating on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Lam Research presently has an average rating of “Buy” and a consensus target price of $70.93.
The stock’s 50-day moving average is $66.14 and its 200-day moving average is $57.17. The company has a market cap of $11.606 billion and a P/E ratio of 25.21.
Lam Research (NASDAQ:LRCX) last issued its quarterly 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. Analysts expect that Lam Research will post $4.40 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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