UBS AG upped their target price on shares of Lam Research Corp. (NASDAQ:LRCX) from $52.00 to $55.00 in a research note issued on Thursday, ARN reports. The firm currently has a “buy” rating on the stock. UBS AG’s price objective suggests a potential upside of 9.71% from the stock’s previous close.
Lam Research Corp. (NASDAQ:LRCX) traded down 1.49% on Thursday, hitting $50.13. Lam Research Corp. has a 52-week low of $31.17 and a 52-week high of $51.00. The stock’s 50-day moving average is currently $47.72. The company has a market cap of $8.157 billion and a price-to-earnings ratio of 182.40.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $986.00 million for the quarter, compared to the consensus estimate of $981.93 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. On average, analysts predict that Lam Research Corp. will post $3.96 earnings per share for the current fiscal year.
Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $54.23.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
