Cantor Fitzgerald Raises Lam Research (NASDAQ:LRCX) Price Target to $115.00

Lam Research (NASDAQ:LRCX) had its price objective boosted by equities researchers at Cantor Fitzgerald from $90.00 to $115.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 25.53% from the company’s current price.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Oppenheimer reiterated an “outperform” rating and issued a $110.00 price objective (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Barclays dropped their target price on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.97.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $91.61 on Tuesday. Lam Research has a one year low of $56.32 and a one year high of $113.00. The company’s fifty day moving average price is $80.10 and its 200-day moving average price is $77.69. The firm has a market capitalization of $117.18 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.27 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the prior year, the business earned $7.79 EPS. On average, equities research analysts anticipate that Lam Research will post 3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LRCX. One Charles Private Wealth Services LLC grew its stake in shares of Lam Research by 843.4% in the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock worth $289,000 after buying an additional 3,576 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Lam Research by 940.0% during the fourth quarter. Sigma Planning Corp now owns 18,522 shares of the semiconductor company’s stock valued at $1,338,000 after acquiring an additional 16,741 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Lam Research by 865.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,413 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 2,163 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its stake in Lam Research by 981.4% in the 4th quarter. Wealthspire Advisors LLC now owns 17,345 shares of the semiconductor company’s stock worth $1,253,000 after purchasing an additional 15,741 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.