Analysts predict that Lam Research (NASDAQ:LRCX) will report earnings of $5.00 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Lam Research’s earnings. The lowest EPS estimate is $4.99 and the highest is $5.02. Lam Research posted earnings per share of $3.11 in the same quarter last year, which suggests a positive year-over-year growth rate of 60.8%. The business is expected to issue its next earnings results on Wednesday, July 25th.
On average, analysts expect that Lam Research will report full-year earnings of $17.54 per share for the current year, with EPS estimates ranging from $17.30 to $17.59. For the next financial year, analysts forecast that the business will report earnings of $17.51 per share, with EPS estimates ranging from $15.87 to $19.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Lam Research.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, April 17th. The semiconductor company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.38 by $0.41. Lam Research had a net margin of 18.32% and a return on equity of 41.25%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the firm posted $3.10 EPS. The company’s quarterly revenue was up 34.3% on a year-over-year basis.
LRCX has been the subject of a number of analyst reports. Vetr downgraded shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $215.24 price objective for the company. in a research report on Wednesday, January 10th. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. UBS raised shares of Lam Research from a “neutral” rating to a “positive” rating in a research report on Tuesday, January 16th. Susquehanna Bancshares raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $200.00 to $250.00 in a research report on Tuesday, January 16th. Finally, Zacks Investment Research downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $249.69.
Shares of LRCX traded up $1.52 during midday trading on Friday, reaching $191.91. The stock had a trading volume of 4,968,010 shares, compared to its average volume of 3,782,365. Lam Research has a one year low of $137.55 and a one year high of $234.88. The company has a market cap of $31,024.53, a PE ratio of 19.23, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.64 and a quick ratio of 2.09.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Tuesday, March 6th. Lam Research’s dividend payout ratio is currently 20.04%.
Lam Research announced that its board has initiated a share buyback plan on Tuesday, March 6th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy Archer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $210.00, for a total transaction of $1,050,000.00. The disclosure for this sale can be found here. Insiders sold a total of 93,393 shares of company stock valued at $20,272,556 in the last three months. Insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its position in shares of Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 392 shares in the last quarter. Focused Wealth Management Inc acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $140,000. Squar Milner Financial Services LLC acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $204,000. First National Trust Co acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $201,000. Finally, Gilman Hill Asset Management LLC acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $207,000. 90.34% of the stock is owned by hedge funds and other institutional investors.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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