Lam Research (LRCX) Receives a Buy from Needham


In a report issued on January 4, Quinn Bolton from Needham reiterated a Buy rating on Lam Research (LRCX). The company’s shares closed on Friday at $138.06, close to its 52-week low of $122.64.

According to TipRanks.com, Bolton is a 5-star analyst with an average return of 10.2% and a 58.2% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lam Research with a $203.30 average price target.

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Based on Lam Research’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $533 million. In comparison, last year the company had a GAAP net loss of $9.96 million.

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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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