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Lam Research (LRCX) Receives a Rating Update from a Top Analyst


B.Riley FBR analyst Craig Ellis maintained a Hold rating on Lam Research (LRCX) yesterday and set a price target of $160. The company’s shares closed yesterday at $145.73, close to its 52-week low of $133.42.

Ellis said:

“We found Anstice articulate and persuasive in presenting LRCX’s strategy and customer value proposition. By our tally, it’s the fourth YTD conduct-related Cap CEO departure, but the first in Semi Caps.”

According to TipRanks.com, Ellis is a top 100 analyst with an average return of 19.7% and a 60.0% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Applied Materials Inc, and Axcelis Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lam Research with a $194.29 average price target.

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Lam Research’s market cap is currently $22.35B and has a P/E ratio of 10.94. The company has a Price to Book ratio of 4.20.

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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.