Cantor Fitzgerald Reiterates Overweight Rating for Lam Research (NASDAQ:LRCX)

Lam Research (NASDAQ:LRCX)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a report issued on Tuesday, Marketbeat.com reports. They currently have a $115.00 price target on the semiconductor company’s stock, up from their previous price target of $90.00. Cantor Fitzgerald’s price target suggests a potential upside of 19.77% from the company’s current price.

Several other equities research analysts have also recently weighed in on LRCX. Stifel Nicolaus cut their price objective on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Argus upgraded shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. Morgan Stanley upped their target price on Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Finally, TD Cowen reduced their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.97.

Lam Research Stock Up 0.4%

Shares of LRCX opened at $96.02 on Tuesday. The firm has a market cap of $122.82 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research has a 52 week low of $56.32 and a 52 week high of $113.00. The firm’s 50-day simple moving average is $81.26 and its 200 day simple moving average is $77.94.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LRCX. Huntington National Bank raised its stake in shares of Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after purchasing an additional 266,527 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock worth $23,920,000 after acquiring an additional 293,619 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Lam Research in the fourth quarter valued at approximately $6,296,000. Pitcairn Co. purchased a new position in Lam Research in the fourth quarter worth $1,013,000. Finally, First Citizens Bank & Trust Co. grew its stake in Lam Research by 47.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company’s stock valued at $8,862,000 after purchasing an additional 39,414 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Company Profile

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.