TD Cowen lifts Lam Research Corp. [LRCX] price estimate. Who else is bullish?

Lam Research Corp. [NASDAQ: LRCX] jumped around 17.44 points on Thursday, while shares priced at $865.60 at the close of the session, up 2.06%. The company report on January 24, 2024 at 4:05 PM that Lam Research Corporation Reports Financial Results for the Quarter Ended December 24, 2023.

Lam Research Corporation (the “Company,” “Lam,” “Lam Research”) today announced financial results for the quarter ended December 24, 2023 (the “December 2023 quarter”).

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Compared to the average trading volume of 973.58K shares, LRCX reached a trading volume of 3100248 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Lam Research Corp. [LRCX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LRCX shares is $873.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LRCX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for Lam Research Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on Jan-26-24.

The Average True Range (ATR) for Lam Research Corp. is set at 23.25, with the Price to Sales ratio for LRCX stock in the period of the last 12 months amounting to 7.97. The Price to Book ratio for the last quarter was 13.82, with the Price to Cash per share for the same quarter was set at 42.78. Price to Free Cash Flow for LRCX in the course of the last twelve months was 23.45 with Quick ratio for the last quarter at 2.02.

How has LRCX stock performed recently?

Lam Research Corp. [LRCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.18. With this latest performance, LRCX shares gained by 10.98% in over the last four-week period, additionally plugging by 34.75% over the last 6 months – not to mention a rise of 77.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LRCX stock in for the last two-week period is set at 76.19, with the RSI for the last a single of trading hit 82.13, and the three-weeks RSI is set at 72.40 for Lam Research Corp. [LRCX]. The present Moving Average for the last 50 days of trading for this stock 748.55, while it was recorded at 840.80 for the last single week of trading, and 649.91 for the last 200 days.

Lam Research Corp. [LRCX]: Deeper insight into the fundamentals

Lam Research Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.02 and a Current Ratio set at 3.06.

Earnings analysis for Lam Research Corp. [LRCX]

With the latest financial reports released by the company, Lam Research Corp. posted 6.99/share EPS, while the average EPS was predicted by analysts to be reported at 6.54/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LRCX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Lam Research Corp. go to 7.64%.

Insider trade positions for Lam Research Corp. [LRCX]

The top three institutional holders of LRCX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in LRCX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in LRCX stock with ownership which is approximately 5.8325%.