Lam Research (NASDAQ:LRCX) Upgraded at KeyCorp

Lam Research (NASDAQ:LRCX) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued on Friday, MarketBeat Ratings reports. The firm presently has a $95.00 price target on the semiconductor company’s stock. KeyCorp’s price target indicates a potential upside of 18.31% from the company’s current price.

LRCX has been the topic of a number of other reports. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Mizuho reduced their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Stock Up 1.4 %

Shares of NASDAQ LRCX opened at $80.30 on Friday. The stock has a market cap of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. Lam Research has a 52-week low of $68.87 and a 52-week high of $113.00. The business has a 50-day moving average price of $74.73 and a 200 day moving average price of $80.99. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. Equities research analysts forecast that Lam Research will post 3.51 earnings per share for the current year.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parisi Gray Wealth Management boosted its position in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new stake in shares of Lam Research in the fourth quarter worth $815,000. Jennison Associates LLC boosted its holdings in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the period. Creative Planning grew its holdings in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the last quarter. Finally, Vest Financial LLC grew its stake in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.