Cantor Fitzgerald Reaffirms Overweight Rating for Lam Research (NASDAQ:LRCX)

Lam Research (NASDAQ:LRCX)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They currently have a $100.00 price objective on the semiconductor company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 20.85% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Mizuho decreased their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Morgan Stanley upped their price objective 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. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Stock Down 0.7 %

Shares of Lam Research stock opened at $82.75 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The business has a fifty day simple moving average of $77.58 and a 200 day simple moving average of $77.79. The stock has a market cap of $106.22 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Research analysts predict that Lam Research will post 3.69 EPS for the current year.

Hedge Funds Weigh In On Lam Research

Institutional investors and hedge funds have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of 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 purchasing an additional 192 shares during the last quarter. Insight Wealth Partners LLC acquired a new position in shares of Lam Research in the third quarter valued at approximately $202,000. B&L Asset Management LLC acquired a new position in shares of Lam Research in the third quarter valued at approximately $204,000. CWC Advisors LLC. acquired a new position in shares of Lam Research in the third quarter valued at approximately $220,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Lam Research in the third quarter valued at approximately $220,000. Institutional investors and hedge funds 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.