Lam Research Corporation (LRCX) is Reiterated by Stifel to Buy, Raises Price Target to $ 116

Lam Research Corporation (LRCX) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 116 from a previous price target of $110 . Stifel advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on Lam Research Corporation. Company shares were Reiterated by Stifel on Nov 21, 2016 to “Buy”, Firm has raised the Price Target to $ 116 from a previous price target of $110 .Lam Research Corporation was Resumed by Goldman to “Neutral” on Oct 25, 2016. Company shares were Reiterated by Stifel on Oct 20, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $102 .

On the company’s financial health, Lam Research Corporation reported $1.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 19, 2016. Analyst had a consensus of $1.78. The company had revenue of $1632.42 million for the quarter, compared to analysts expectations of $1633.59 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS.

Lam Research Corporation opened for trading at $103.44 and hit $107.25 on the upside on Monday, eventually ending the session at $104.71, with a gain of 0.88% or 0.91 points. The heightened volatility saw the trading volume jump to 37,09,504 shares. Company has a market cap of $17,050 M.

In a different news, on Oct 11, 2016, Richard A Gottscho (Executive Vice President) sold 47,540 shares at $98.85 per share price. According to the SEC, on Oct 27, 2015, Martin B Anstice (President and CEO) sold 7,948 shares at $73.90 per share price. On Jul 28, 2015, Douglas R Bettinger (EVP, Chief Financial Officer) sold 10,043 shares at $82.29 per share price, according to the Form-4 filing with the securities and exchange commission.

Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company’s products are used primarily in front-end wafer processing which involves the steps that create the active components of a device and their wiring. It also addresses processes for back-end wafer-level packaging (WLP). In addition its products are offered for related markets that rely on semiconductor processes and require production-proven manufacturing capability such as micro-electromechanical systems (MEMS). Its thin film deposition systems form a device’s sub-microscopic layers of conducting (metal) or insulating (dielectric) materials. It is a provider of plasma etch a process step that selectively removes materials from the wafer to create the features and patterns of a device. Its wet spin clean and plasma-based bevel clean products remove particles residues and film from the wafer surface before or after adjacent processes.

Lam Research Corporation

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