KeyBanc Believes Lam Research (NASDAQ: LRCX) Won’t Stop Here

By Carrie Williams

KeyBanc analyst Weston Twigg reiterated a Buy rating on Lam Research (NASDAQ: LRCX) on September 13 and set a price target of $202. The company’s shares closed on Friday at $172.99, close to its 52-week high of $174.37.

According to TipRanks.com, Twigg is a top 100 analyst with an average return of 32.9% and a 80.0% success rate. Twigg covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Applied Materials, and Kla-Tencor Corp.

Currently, the analyst consensus on Lam Research is Strong Buy and the average price target is $196.67, representing a 13.7% upside.

In a report issued on August 29, Credit Suisse also maintained a Buy rating on the stock.

Based on Lam Research’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $2.35 billion and quarterly net profit of $526 million. In comparison, last year the company earned revenue of $1.55 billion and had a net profit of $259 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Lam Research Corp. engages in the manufacture and service of wafer processing semiconductor manufacturing equipment. Its products include front-end wafer processing, back-end wafer-level packaging, and other related products.