Lam Research (NASDAQ:LRCX) Upgraded to “Overweight” at Cantor Fitzgerald

Lam Research (NASDAQ:LRCX) was upgraded by Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a report released on Thursday,Finviz reports. The firm currently has a $100.00 price target on the semiconductor company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 33.07% from the stock’s current price.

Several other equities research analysts also recently issued reports on LRCX. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.07.

Lam Research Price Performance

NASDAQ LRCX opened at $75.15 on Thursday. Lam Research has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock’s 50-day moving average is $75.62 and its two-hundred day moving average is $79.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market cap of $96.69 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. On average, analysts anticipate that Lam Research will post 3.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LRCX. Atwood & Palmer Inc. bought a new position in Lam Research in the 4th quarter worth approximately $27,000. West Oak Capital LLC raised its position in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Country Trust Bank raised its position in Lam Research by 900.0% in the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 360 shares during the last quarter. Finley Financial LLC bought a new position in Lam Research in the 4th quarter worth approximately $30,000. Finally, Stephens Consulting LLC raised its position in Lam Research by 900.0% in the 4th quarter. Stephens Consulting LLC now owns 430 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 387 shares during the last quarter. 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.