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Why Lam Research (LRCX) Stock Hit a 52-Week High Today

NEW YORK (TheStreet) -- Lam Research (LRCX - Get Report) hit a 52-week high of $67.46 Monday after Cowen and Company increased its price target for the semiconductor company to $80 from $63.

Shares were gaining 1.75 to $67.44 at 12:10 p.m.

Cowen reiterated its "outperform" rating for the stock. The analyst firm is upbeat about Samsung's 3D NAND flash investments following some delays.

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Separately, TheStreet Ratings team rates LAM RESEARCH CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate LAM RESEARCH CORP (LRCX) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, attractive valuation levels and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth greatly exceeded the industry average of 3.1%. Since the same quarter one year prior, revenues rose by 45.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • LRCX's debt-to-equity ratio is very low at 0.28 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, LRCX has a quick ratio of 2.32, which demonstrates the ability of the company to cover short-term liquidity needs.
  • Powered by its strong earnings growth of 772.72% and other important driving factors, this stock has surged by 40.28% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 765.4% when compared to the same quarter one year prior, rising from $19.00 million to $164.40 million.
  • You can view the full analysis from the report here: LRCX Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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