Lam Research Corp. (NASDAQ:LRCX) does about 1.06M shares in volume on a normal day but saw 858629 shares change hands in Tuesday trading. The company now has a market cap of 126.80B USD. Its current market price is $967.23, marking a decrease of -0.44% compared to the previous close of $971.46. The 52 week high reached by this stock is $1007.39 whilst the lowest price level in 52 weeks is $478.77.
Lam Research Corp. (LRCX) has a 20-day trading average at $953.26 and the current price is -3.99% off the 52-week high compared with 102.02% distance from its 52-week low. The 50-day simple moving average of the closing price is $899.94 and its 200-day simple moving average is $727.08. If we look at the stock’s price movements over the week, volatility stands at 2.34%, which decreases to 2.32% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 57.93 to suggest the stock is neutral.
The consensus objective for the share price is $925.39, suggesting that the stock has a potential downside of -4.52% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 25, 2024 when TD Cowen reiterated the stock to “Outperform” and issued a price target of between $710 and $975. Deutsche Bank downgraded its price target at $680-$725.
Lam Research Corp. (LRCX) stock is up 3.89% over the week and 3.03% over the past month. Its price is 23.49% year-to-date and 92.65% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of $6.96 above consensus estimates by $0.39. LRCX’s earnings per share are forecast to shrink by -21.30% this year and 23.10% over next year. Expected sales for next quarter are $3.49 billion, which analysts say will come at $13.67 billion for the current fiscal year and next year at $16.07 billion. In addition, estimates put the company’s current quarterly revenue at an average of $3.44 billion.
To reach the target analysts have set, the stock logically needs to shrink -4.52 percent from here.
Outstanding shares total 133.30M with insiders holding 0.25% of the shares and institutional holders owning 89.49% of the company’s common stock. The company has a return on investment of 26.19% and return on equity of 41.85%. The price to earnings ratio (P/E ratio) amounts to 37.40 while the forward price to earnings ratio is 26.89. The beta has a value of 1.52. Price to book ratio is 15.44 and price to sales ratio is 8.86.
