Lam Research Corporation (NASDAQ:LRCX): Price Target Raised at RBC Capital, Hits 52-week High


Dallas, Texas 05/19/2014 (FINANCIALSTRENDS) –The stock of Lam Research Corporation (NASDAQ:LRCX) recently received a price target upgrade by equities research analysts at RBC Capital who raised their price target from $57 to $62 in a recently released research note. The raised price target now suggests potential upside of nearly 6% from the stock’s previous closing.

Among other analysts who have recently commented on the stock include, investment analysts at B. Riley who reaffirmed a “buy” rating with a price target of $67. Separately, equities research analysts at Citigroup Inc. also reaffirmed a “hold” rating on the stock and they now maintain a price target of $56 on the stock. Additionally, investment analysts at Deutsche Bank also increased their price target on the stock of Lam Research to $62 from their previously announced target of $58 per share. They now maintain a “buy” rating on the stock.

Consensus Rating:

Among all the analysts following the stock of Lam Research Corporation (NASDAQ:LRCX), one investment analyst maintains a “strong buy” rating; seventeen analysts maintain a “buy” rating and four analysts maintain a “hold” rating for the stock. The company presently has an average rating of “buy” with a consensus price target of $62.98.

Company Brief:

California based Lam Research Corporation (NASDAQ:LRCX) is mainly engaged in designing, manufacturing, marketing and servicing of semiconductor processing equipment. The company offers plasma etch products, thin film deposition products, ALTUS systems for tungsten metallization applications, photoresist strip systems, single-wafer wet as well as plasma based wafer cleaning products, newly built and refurbished legacy products. The company offers its products in the North America, Europe and the Asia Pacific.

On Friday, the stock of Lam Research Corporation closed at $58.52, gaining 4.76% from its previous close. During the trade the stock marked an intraday high as well as fresh 52 week high of $58.98.

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