Lam Research Co. (NASDAQ:LRCX) Expected to Earn Q3 2024 Earnings of $7.08 Per Share

Lam Research Co. (NASDAQ:LRCX) – Investment analysts at Zacks Research lifted their Q3 2024 EPS estimates for Lam Research in a research note issued on Thursday, April 18th. Zacks Research analyst R. Department now expects that the semiconductor company will post earnings of $7.08 per share for the quarter, up from their previous forecast of $6.96. The consensus estimate for Lam Research’s current full-year earnings is $28.90 per share. Zacks Research also issued estimates for Lam Research’s Q4 2024 earnings at $7.04 EPS, FY2024 earnings at $28.50 EPS, Q1 2025 earnings at $7.97 EPS, Q2 2025 earnings at $8.72 EPS, Q3 2025 earnings at $8.33 EPS, Q4 2025 earnings at $8.49 EPS, FY2025 earnings at $33.52 EPS, Q3 2026 earnings at $9.59 EPS and FY2026 earnings at $38.82 EPS.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.71 earnings per share.

LRCX has been the subject of several other reports. Barclays boosted their target price on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Evercore ISI assumed coverage on shares of Lam Research in a research report on Tuesday. They set an “outperform” rating and a $1,200.00 target price for the company. TD Cowen boosted their target price on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. B. Riley upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and upped their price target for the stock from $870.00 to $1,100.00 in a research report on Friday. Finally, UBS Group upped their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $899.64.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $888.92 on Friday. The firm has a 50 day moving average of $946.27 and a 200 day moving average of $798.17. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $116.54 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51. Lam Research has a 12-month low of $482.74 and a 12-month high of $1,007.39.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arlington Trust Co LLC raised its stake in shares of Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 13 shares during the period. Capital Performance Advisors LLP raised its stake in shares of Lam Research by 2.2% in the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 13 shares during the period. Van Leeuwen & Company LLC raised its stake in shares of Lam Research by 0.5% in the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after acquiring an additional 13 shares during the period. First Affirmative Financial Network grew its holdings in shares of Lam Research by 2.5% in the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 13 shares during the last quarter. Finally, CNB Bank grew its holdings in shares of Lam Research by 1.4% in the fourth quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.