Lam Research Given Average Recommendation of “Buy” by Brokerages (NASDAQ:LRCX)
Shares of Lam Research (NASDAQ:LRCX) have earned an average rating of “Buy” from the twenty-one ratings firms that are presently covering the stock, 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 assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $73.11.
A number of analysts have recently weighed in on LRCX shares. 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.
Shares of Lam Research (NASDAQ:LRCX) opened at 71.78 on Friday. Lam Research has a one year low of $46.20 and a one year high of $72.92. The stock has a 50-day moving average of $70.18 and a 200-day moving average of $60.95. The company has a market cap of $11.653 billion and a price-to-earnings ratio of 19.75.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating the analysts’ 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 prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts expect that Lam Research will post $4.65 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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