Lam Research Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:LRCX)
Lam Research (NASDAQ:LRCX) has earned a consensus rating of “Buy” from the twenty-two brokerages that are currently covering the company, Analyst Ratings Net reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $70.93.
Lam Research (NASDAQ:LRCX) opened at 71.63 on Friday. Lam Research has a 1-year low of $46.20 and a 1-year high of $72.00. The stock has a 50-day moving average of $66.46 and a 200-day moving average of $57.32. The company has a market cap of $11.613 billion and a price-to-earnings ratio of 25.21.
Lam Research (NASDAQ:LRCX) last posted its quarterly 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. On average, analysts predict that Lam Research will post $4.40 earnings per share for the current fiscal year.
LRCX has been the subject of a number of recent research reports. 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, July 10th. 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.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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