Needham & Company LLC Reiterates “Buy” Rating for Lam Research (NASDAQ:LRCX)

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $90.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 11.04% from the stock’s current price.

LRCX has been the subject of several other research reports. The Goldman Sachs Group dropped their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research report on Thursday. Mizuho dropped their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $81.05 on Thursday. The business has a fifty day moving average of $75.88 and a 200-day moving average of $78.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research has a twelve month low of $68.87 and a twelve month high of $113.00. The firm has a market cap of $104.29 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. On average, equities research analysts predict that Lam Research will post 3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Lam Research

A number of large investors have recently added to or reduced their stakes in LRCX. Van ECK Associates Corp boosted its position in shares of 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 worth $13,123,440,000 after buying an additional 15,005,178 shares during the period. State Street Corp lifted its stake in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after acquiring an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after acquiring an additional 2,819,668 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of Lam Research by 1,488.8% in 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. 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.