Lam Research (NASDAQ:LRCX) Price Target Raised to $85.00 at Wells Fargo & Company

Lam Research (NASDAQ:LRCX) had its price target raised by investment analysts at Wells Fargo & Company from $82.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 4.87% from the stock’s previous close.

A number of other brokerages also recently issued reports on LRCX. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $95.00 to $100.00 in a research report on Thursday. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Mizuho reduced their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Trading Up 0.4 %

Shares of NASDAQ:LRCX opened at $81.05 on Thursday. The stock’s 50-day simple moving average is $75.88 and its two-hundred day simple moving average is $78.94. The stock has a market capitalization of $104.29 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.38 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 company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. Analysts expect that Lam Research will post 3.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in shares of Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 56 shares during the period. Advisory Alpha LLC purchased a new position in Lam Research during the second quarter worth $256,000. Cetera Investment Advisers increased its position in Lam Research by 2.1% during the second quarter. Cetera Investment Advisers now owns 28,382 shares of the semiconductor company’s stock valued at $30,224,000 after acquiring an additional 585 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Lam Research in the second quarter valued at $18,140,000. Finally, Heritage Wealth Management Inc. bought a new stake in shares of Lam Research in the 2nd quarter worth about $276,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.