Lam Research (NASDAQ:LRCX) Price Target Raised to $115.00 at Cantor Fitzgerald

Lam Research (NASDAQ:LRCX) had its target price boosted by Cantor Fitzgerald from $90.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 25.53% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Barclays dropped their target price on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Bank of America lowered their price target on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. UBS Group cut their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. TD Cowen reduced their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Morgan Stanley raised their target price on Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.97.

Lam Research Trading Up 1.2%

Shares of NASDAQ:LRCX opened at $91.61 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a market cap of $117.18 billion, a P/E ratio of 25.53, a PEG ratio of 1.27 and a beta of 1.65. The stock’s fifty day moving average price is $80.10 and its 200-day moving average price is $77.69.

Lam Research (NASDAQ:LRCX) last posted its earnings results 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 business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business’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 business earned $7.79 EPS. Sell-side analysts expect that Lam Research will post 3.71 earnings per share for the current year.

Institutional Inflows and Outflows

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