Lam Research (NASDAQ:LRCX) Stock Rating Upgraded by KeyCorp

Lam Research (NASDAQ:LRCX) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a $95.00 target price on the semiconductor company’s stock. KeyCorp’s price objective suggests a potential upside of 18.31% from the stock’s previous close.

LRCX has been the topic of several other research reports. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Stock Up 1.4 %

LRCX stock opened at $80.30 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $74.73 and a two-hundred day moving average of $80.99. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a market cap of $103.32 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.37 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the firm earned $6.85 earnings per share. As a group, analysts forecast that Lam Research will post 3.51 earnings per share for the current fiscal year.

Institutional Trading of Lam Research

A number of large investors have recently made changes to their positions in LRCX. Quarry LP grew its holdings in Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 56 shares in the last quarter. NCP Inc. acquired a new position in shares of Lam Research during the second quarter worth $213,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new stake in Lam Research in the second quarter valued at $226,000. Finally, MQS Management LLC acquired a new position in shares of Lam Research during the 2nd quarter worth about $228,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.