Cantor Fitzgerald Upgrades Lam Research (NASDAQ:LRCX) to Overweight

Lam Research (NASDAQ:LRCX) was upgraded by research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat reports. The firm currently has a $100.00 price objective on the semiconductor company’s stock, up from their prior price objective of $95.00. Cantor Fitzgerald’s price objective suggests a potential upside of 23.38% from the company’s current price. Cantor Fitzgerald also issued estimates for Lam Research’s FY2025 earnings at $3.77 EPS.

LRCX has been the subject of several other research reports. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Barclays reduced their target price on shares of 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. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Price Performance

LRCX opened at $81.05 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $75.88 and its 200 day moving average price is $78.94. Lam Research has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market cap of $104.29 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 52.58% and a net margin of 26.49%. As a group, sell-side analysts expect that Lam Research will post 3.51 earnings per share for the current year.

Institutional Investors Weigh In On Lam Research

Several large investors have recently modified their holdings of the stock. Trust Co. of Toledo NA OH boosted its position in shares of Lam Research by 2.4% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock valued at $1,693,000 after purchasing an additional 49 shares during the period. Quarry LP boosted its holdings in shares of Lam Research by 175.0% in the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares during the period. American National Bank & Trust increased its position in shares of Lam Research by 34.0% in the third quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 73 shares in the last quarter. Cypress Capital Group raised its holdings in shares of Lam Research by 3.7% during the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares during the period. Finally, Savvy Advisors Inc. lifted its position in shares of Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after acquiring an additional 134 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

About Lam Research

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.