Oppenheimer Forecasts Strong Price Appreciation for Lam Research (NASDAQ:LRCX) Stock

Lam Research (NASDAQ:LRCX) had its price objective increased by stock analysts at Oppenheimer from $80.00 to $110.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price would indicate a potential upside of 16.72% from the company’s current price.

LRCX has been the subject of several other reports. Evercore ISI boosted their price objective on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Barclays reduced their price target on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. B. Riley reiterated a “buy” rating on shares of Lam Research in a research report on Thursday, April 24th. Finally, UBS Group lowered their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.30.

Lam Research Stock Up 0.9%

Shares of Lam Research stock traded up $0.83 during trading on Tuesday, reaching $94.24. The company had a trading volume of 2,921,839 shares, compared to its average volume of 12,267,375. 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 fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm’s fifty day moving average is $77.79 and its 200-day moving average is $77.18. The company has a market cap of $120.55 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Lam Research’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.79 earnings per share. On average, analysts anticipate that Lam Research will post 3.71 EPS for the current year.

Hedge Funds Weigh In On Lam Research

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC raised its stake in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after buying an additional 28,307,499 shares in the last quarter. Finally, Norges Bank acquired a new position in Lam Research in the fourth quarter worth approximately $1,661,672,000. Institutional investors and hedge funds 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.