Lam Research (NASDAQ:LRCX) had its target price decreased by Citigroup from $216.00 to $177.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price target indicates a potential upside of 18.94% from the stock’s current price.

Several other research firms also recently weighed in on LRCX. BidaskClub raised shares of Lam Research from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. KeyCorp decreased their price target on shares of Lam Research from $283.00 to $261.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Zacks Investment Research downgraded shares of Lam Research from a “hold” rating to a “sell” rating in a research note on Monday, June 25th. ValuEngine downgraded shares of Lam Research from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Finally, Morgan Stanley decreased their price target on shares of Lam Research from $219.00 to $208.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $245.45.

NASDAQ:LRCX opened at $148.81 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 2.31 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $23.84 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.58 and a beta of 1.33. Lam Research has a twelve month low of $147.54 and a twelve month high of $234.88.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.94 by $0.37. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.08 billion. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period last year, the firm posted $3.11 earnings per share. research analysts anticipate that Lam Research will post 15.51 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. NuWave Investment Management LLC acquired a new stake in shares of Lam Research during the second quarter valued at about $100,000. Clear Perspective Advisors LLC acquired a new stake in shares of Lam Research during the second quarter valued at about $108,000. Signet Financial Management LLC increased its position in shares of Lam Research by 21,700.0% during the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock valued at $113,000 after acquiring an additional 651 shares during the last quarter. Ruggie Capital Group acquired a new stake in shares of Lam Research during the second quarter valued at about $134,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Lam Research during the first quarter valued at about $165,000. Hedge funds and other institutional investors own 89.15% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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