Zacks: Analysts Anticipate Lam Research Co. (NASDAQ:LRCX) Will Announce Earnings of $7.52 Per Share


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Analysts predict that Lam Research Co. (NASDAQ:LRCX) will post $7.52 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Lam Research’s earnings. The lowest EPS estimate is $7.50 and the highest is $7.60. Lam Research reported earnings per share of $4.78 in the same quarter last year, which suggests a positive year-over-year growth rate of 57.3%. The business is expected to report its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that Lam Research will report full-year earnings of $26.71 per share for the current financial year, with EPS estimates ranging from $26.67 to $26.77. For the next fiscal year, analysts anticipate that the company will post earnings of $32.46 per share, with EPS estimates ranging from $31.00 to $34.88. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Lam Research.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, April 20th. The semiconductor company reported $7.49 EPS for the quarter, beating the consensus estimate of $6.56 by $0.93. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 55.82% and a net margin of 23.60%. The firm’s revenue was up 53.7% compared to the same quarter last year. During the same period last year, the company posted $3.98 earnings per share.

Several analysts have recently weighed in on LRCX shares. Credit Suisse Group raised their target price on Lam Research from $650.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, April 22nd. DA Davidson raised their target price on Lam Research from $615.00 to $725.00 and gave the company a “neutral” rating in a research note on Friday, April 23rd. Royal Bank of Canada raised their target price on Lam Research from $495.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. Barclays lifted their price target on Lam Research from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 28th. Finally, Cowen lifted their price target on Lam Research from $585.00 to $700.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 20th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $663.41.

Shares of Lam Research stock traded down $10.95 during trading hours on Tuesday, hitting $606.29. 1,549,481 shares of the company’s stock traded hands, compared to its average volume of 1,647,417. The stock has a 50 day simple moving average of $612.34 and a 200-day simple moving average of $517.98. The company has a quick ratio of 2.68, a current ratio of 3.31 and a debt-to-equity ratio of 0.92. The company has a market cap of $86.47 billion, a PE ratio of 34.39, a PEG ratio of 1.42 and a beta of 1.33. Lam Research has a twelve month low of $239.90 and a twelve month high of $669.00.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 17th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.86%. Lam Research’s dividend payout ratio (DPR) is presently 32.60%.

In related news, CEO Timothy Archer sold 4,464 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $515.00, for a total transaction of $2,298,960.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Lord sold 4,166 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $576.56, for a total value of $2,401,948.96. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

A number of large investors have recently made changes to their positions in LRCX. Veritas Investment Partners UK Ltd. bought a new stake in Lam Research during the fourth quarter worth approximately $26,000. Bartlett & Co. LLC bought a new stake in Lam Research during the fourth quarter worth approximately $27,000. Sound Income Strategies LLC raised its holdings in Lam Research by 155.6% during the first quarter. Sound Income Strategies LLC now owns 46 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. DB Wealth Management Group LLC acquired a new position in Lam Research in the fourth quarter worth approximately $34,000. Finally, Wealthcare Capital Management LLC acquired a new position in Lam Research in the first quarter worth approximately $37,000. 84.03% of the stock is currently 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 ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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