The stock of Lam Research Corporation (NASDAQ:LRCX) hit a new 52-week high and has $130.26 target or 32.00% above today’s $98.68 share price. The 5 months bullish chart indicates low risk for the $16.14B company. The 1-year high was reported on Oct, 6 by Barchart.com. If the $130.26 price target is reached, the company will be worth $5.16 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.55 million shares traded hands or 69.86% up from the average. Lam Research Corporation (NASDAQ:LRCX) has risen 28.45% since March 3, 2016 and is uptrending. It has outperformed by 20.11% the S&P500.
Analysts await Lam Research Corporation (NASDAQ:LRCX) to report earnings on October, 19. They expect $1.80 earnings per share, down 1.10% or $0.02 from last year’s $1.82 per share. LRCX’s profit will be $294.31 million for 13.70 P/E if the $1.80 EPS becomes a reality. After $1.80 actual earnings per share reported by Lam Research Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Lam Research Corporation (NASDAQ:LRCX) Ratings Coverage
Out of 11 analysts covering Lam Research Corporation (NASDAQ:LRCX), 8 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 73% are positive. $102 is the highest target while $52 is the lowest. The $85.70 average target is -13.15% below today’s ($98.68) stock price. Lam Research Corporation has been the topic of 23 analyst reports since September 17, 2015 according to StockzIntelligence Inc. On Friday, October 9 the stock rating was maintained by Needham with “Buy”. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by Credit Agricole on Friday, September 25. The company was maintained on Monday, May 16 by Cowen & Co. RBC Capital Markets downgraded Lam Research Corporation (NASDAQ:LRCX) rating on Monday, October 5. RBC Capital Markets has “Underperform” rating and $52 price target. The company was upgraded on Friday, September 25 by CLSA. The company was maintained on Thursday, April 21 by B. Riley & Co. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Neutral” rating given on Monday, September 21 by Susquehanna. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Buy” rating given on Friday, August 12 by Citigroup. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Outperform” rating by Cowen & Co on Thursday, December 10. Cowen & Co maintained it with “Outperform” rating and $85 target price in Wednesday, October 21 report.
According to Zacks Investment Research, “Lam Research Corporation designs, manufactures, markets and services semiconductor processing equipment used in the fabrication of integrated circuits. Lam is recognized as a leading supplier of front-end wafer processing equipment to the worldwide semiconductor industry. The Company’s products are used selectively to etch away portions of various films to create an integrated circuit.”
Insitutional Activity: The institutional sentiment decreased to 1.21 in 2016 Q2. Its down 0.06, from 1.27 in 2016Q1. The ratio dropped, as 43 funds sold all Lam Research Corporation shares owned while 181 reduced positions. 67 funds bought stakes while 203 increased positions. They now own 181.29 million shares or 1.03% less from 183.18 million shares in 2016Q1.
The Michigan-based State Treasurer State Of Michigan has invested 0.04% in Lam Research Corporation (NASDAQ:LRCX). Raymond James Associates has 60,589 shares for 0.02% of their US portfolio. D E Shaw And has 485,420 shares for 0.08% of their US portfolio. Ubs Asset Mgmt Americas has 0.09% invested in the company for 981,186 shares. Advantus holds 0.04% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 15,684 shares. Northern Tru Corp accumulated 2.04 million shares or 0.06% of the stock. Moreover, Nordea Mngmt Ab has 0.21% invested in Lam Research Corporation (NASDAQ:LRCX) for 870,983 shares. Pub Sector Pension Invest Board accumulated 0.03% or 30,271 shares. Secor L P holds 6,135 shares or 0.06% of its portfolio. Cfo4life L P holds 0.48% or 6,719 shares in its portfolio. Lmr Prtnrs Llp has invested 0.13% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Westpac Bk Corporation owns 96,028 shares or 0% of their US portfolio. Roosevelt Inv Gru, a New York-based fund reported 67,905 shares. Services Automobile Association last reported 0.13% of its portfolio in the stock. Next Financial Group owns 300 shares or 0.01% of their US portfolio.
More news for Lam Research Corporation (NASDAQ:LRCX) were recently published by: Streetinsider.com, which released: “KLA-Tencor (KLAC) Terminates Merger with Lam Research (LRCX)” on October 05, 2016. Benzinga.com‘s article titled: “8 Stocks To Watch For October 6, 2016” and published on October 06, 2016 is yet another important article.
LRCX Company Profile
Lam Research Corporation, incorporated on October 8, 1989, is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Firm designs, makes, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). The Firm operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment. The Company’s products are designed to enable its clients build a range of devices that are used in a range of electronic products, including cell phones, tablets, computers, storage devices and networking equipment. The Company’s customer base includes semiconductor memory, foundry and integrated device manufacturers (IDMs) that make products, such as dynamic random-access memory (DRAM), negative-AND (NAND) memory and logic devices. The Firm offers a portfolio of products that are used in several areas of the semiconductor manufacturing process flow, including thin film deposition, plasma etch and single-wafer clean. The Firm also offers a range of services, including customer service, spares, upgrades, and refurbishment of its deposition, etch and clean products. The Firm also provides refurbished legacy products.
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