Lam Research Given Average Recommendation of “Buy” by Brokerages (NASDAQ:LRCX)
Lam Research (NASDAQ:LRCX) has received a consensus recommendation of “Buy” from the twenty-one brokerages that are covering the company, Stock Ratings Network.com reports. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $73.11.
Lam Research (NASDAQ:LRCX) traded up 0.12% during mid-day trading on Friday, hitting $72.09. The stock had a trading volume of 103,518 shares. Lam Research has a 1-year low of $46.20 and a 1-year high of $72.92. The stock’s 50-day moving average is $70.06 and its 200-day moving average is $60.48. The company has a market cap of $11.704 billion and a P/E ratio of 19.89.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts predict that Lam Research will post $4.65 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Lam Research in a research note on Thursday, July 31st. They now have a $74.00 price target on the stock, up previously from $70.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of Lam Research from $81.00 to $84.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Lam Research from $56.00 to $60.00 in a research note on Thursday, July 31st.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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