Lam Research’s (LRCX) Buy Rating Reaffirmed at Needham & Company LLC

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $90.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 19.76% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research report on Thursday. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a research report on Thursday. Finally, Barclays reduced their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Price Performance

Lam Research stock opened at $75.15 on Thursday. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market capitalization of $96.69 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.53 and a beta of 1.45. The firm’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.

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

Institutional Trading of Lam Research

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Swedbank AB increased its stake in Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after purchasing an additional 2,819,668 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Lam Research during the fourth quarter valued at $175,652,000. Finally, KBC Group NV increased its stake in Lam Research by 904.7% during the fourth quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock valued at $99,031,000 after purchasing an additional 1,234,595 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

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.