A number of other firms have also recently commented on LRCX. Analysts at Needham & Company cut their price target on shares of Lam Research from $50.00 to $48.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase (NYSE: JPM) downgraded shares of Lam Research from a “neutral” rating to an “underweight” rating in a research note to investors on Wednesday, May 16th. They now have a $35.00 price target on the stock.
Shares of Lam Research traded up 3.43% during mid-day trading on Tuesday, hitting $38.60. Lam Research has a one year low of $34.81 and a one year high of $46.27. The company has a market cap of $4.642 billion and a P/E ratio of 16.51.
Lam Research last issued its quarterly earnings data on Wednesday, April 18th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.05. The company’s quarterly revenue was down 18.6% on a year-over-year basis. On average, analysts predict that Lam Research will post $0.77 earnings per share next quarter.
Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.