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

Lam Research (NASDAQ:LRCX)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports. They presently have a $100.00 price objective on the semiconductor company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 20.85% from the stock’s current price.

A number of other research firms have also issued reports on LRCX. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Stock Down 0.7 %

Shares of LRCX stock opened at $82.75 on Tuesday. The stock’s 50 day simple moving average is $77.58 and its 200 day simple moving average is $77.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market capitalization of $106.22 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts predict that Lam Research will post 3.69 EPS for the current year.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently bought and sold shares of the business. Financial Perspectives Inc raised its position in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC raised its position in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter worth $27,000. Finally, West Paces Advisors Inc. bought a new stake in shares of Lam Research during the fourth quarter worth $27,000. 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.