Lam Research (NASDAQ:LRCX) Posts Earnings Results, Beats Estimates By $0.53 EPS

Lam Research (NASDAQ:LRCX) released its quarterly earnings data on Wednesday. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53, Briefing.com reports. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted $6.99 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Lam Research updated its Q4 guidance to $6.75-$8.25 EPS and its Q4 2024 guidance to 6.750-8.250 EPS.

Lam Research Trading Up 2.0 %

Lam Research stock traded up $17.71 during mid-day trading on Thursday, hitting $902.60. The stock had a trading volume of 425,316 shares, compared to its average volume of 1,060,296. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The stock has a market capitalization of $118.33 billion, a PE ratio of 34.85, a P/E/G ratio of 3.21 and a beta of 1.51. The stock has a 50-day simple moving average of $943.93 and a two-hundred day simple moving average of $806.38.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is 30.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LRCX shares. TD Cowen increased their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup upped their target price on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Mizuho upped their target price on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a research note on Thursday. Finally, The Goldman Sachs Group upped their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $933.85.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Lam Research Company Profile

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.