Equities research analysts at DA Davidson upped their price target on shares of Lam Research Corp. (NASDAQ:LRCX) from $60.00 to $63.00 in a research note issued to investors on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 15.03% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of Lam Research Corp. from $55.00 to $60.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Lam Research Corp. from $57.00 to $63.00 in a research note to investors on Thursday. They now have a “positive” rating on the stock. Finally, analysts at Piper Jaffray Cos. raised their price target on shares of Lam Research Corp. from $56.00 to $59.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $59.58.
In other Lam Research Corp. news, SVP Sarah A. O’dowd unloaded 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $54.36, for a total value of $326,160.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Lam Research Corp. (NASDAQ:LRCX) traded up 3.34% during mid-day trading on Friday, hitting $54.77. 4,466,864 shares of the company’s stock traded hands. Lam Research Corp. has a one year low of $31.17 and a one year high of $51.00. The stock has a 50-day moving average of $48.59 and a 200-day moving average of $45.91. The company has a market cap of $8.936 billion and a price-to-earnings ratio of 80.30.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.10. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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