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Lam Research (NASDAQ:LRCX) has earned a consensus recommendation of “Buy” from the nineteen analysts that are currently covering the stock, AnalystRatingsNetwork reports. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $91.06.

Shares of Lam Research (NASDAQ:LRCX) traded down 1.57% during mid-day trading on Monday, hitting $70.66. The stock had a trading volume of 1,920,790 shares. Lam Research has a 52 week low of $51.99 and a 52 week high of $85.70. The stock has a 50-day moving average of $75. and a 200-day moving average of $77.. The company has a market cap of $11.26 billion and a P/E ratio of 17.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $1.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.06. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $1.10 earnings per share. Lam Research’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Lam Research will post $4.76 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on LRCX shares. Analysts at KeyBanc lowered their price target on shares of Lam Research from $103.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Analysts at Needham & Company LLC lowered their price target on shares of Lam Research from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Analysts at JPMorgan Chase & Co. raised their price target on shares of Lam Research from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Finally, analysts at Jefferies Group raised their price target on shares of Lam Research from $83.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 29th.

Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry. Lam Research designs, manufactures, markets, refurbish, and services semiconductor processing equipment used in the fabrication of integrated circuit