Lam Research (NASDAQ:LRCX) issued its quarterly earnings data on Tuesday. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.38 by $0.41, Bloomberg Earnings reports. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. 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 company earned $3.10 earnings per share. Lam Research’s revenue for the quarter was up 34.3% on a year-over-year basis. Lam Research updated its Q4 guidance to $4.80-$5.20 EPS.
LRCX stock opened at $212.33 on Wednesday. The firm has a market capitalization of $33,168.98, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.69 and a beta of 1.41. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. Lam Research has a 1 year low of $125.97 and a 1 year high of $234.88.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Tuesday, March 6th. Lam Research’s payout ratio is 20.04%.
Lam Research announced that its board has initiated a share repurchase plan on Tuesday, March 6th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several analysts have issued reports on LRCX shares. Zacks Investment Research raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Tuesday, January 23rd. Nomura reiterated a “buy” rating and set a $230.00 target price on shares of Lam Research in a research note on Monday, January 22nd. DA Davidson reiterated a “buy” rating and set a $235.00 target price on shares of Lam Research in a research note on Monday, January 22nd. B. Riley reiterated a “buy” rating and set a $250.00 target price on shares of Lam Research in a research note on Monday, January 22nd. Finally, BidaskClub cut Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 20th. One equities research analyst has rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $245.14.
In related news, COO Timothy Archer sold 16,574 shares of Lam Research stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $221.41, for a total transaction of $3,669,649.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The disclosure for this sale can be found here. Insiders have sold 88,393 shares of company stock worth $19,222,556 over the last three months. Corporate insiders own 0.41% of the company’s stock.
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Lam Research Company Profile
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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