UBS has decided to maintain its Buy rating of Lam Research ( LRCX ) and raise its price target from $885.00 to $1130.00.

Shares of Lam Research ( LRCX ) are trading down 1.16% over the last 24 hours, at $966.14 per share.

A move to $1130.00 would account for a 16.96% increase from the current share price.

About Lam Research

Lam Research ( LRCX ) is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segments of deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear cut second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.