Lam Research (NASDAQ:LRCX) Updates Q4 2024 Earnings Guidance

Lam Research (NASDAQ:LRCX) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 6.750-8.250 for the period, compared to the consensus earnings per share estimate of 7.330. The company issued revenue guidance of $3.5 billion-$4.1 billion, compared to the consensus revenue estimate of $3.8 billion. Lam Research also updated its Q4 guidance to $6.75-$8.25 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LRCX. Cantor Fitzgerald restated a neutral rating and issued a $1,100.00 target price on shares of Lam Research in a research note on Thursday. Evercore ISI assumed coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a buy rating in a research report on Thursday, January 25th. Barclays lifted their price target on shares of Lam Research from $825.00 to $865.00 and gave the company an equal weight rating in a research report on Thursday. Finally, Raymond James boosted their target price on Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $948.35.

Lam Research Price Performance

Shares of LRCX stock traded up $12.85 during mid-day trading on Thursday, reaching $897.74. The company’s stock had a trading volume of 955,167 shares, compared to its average volume of 1,065,674. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39. The company has a market cap of $117.69 billion, a P/E ratio of 35.20, a PEG ratio of 3.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm’s 50-day moving average is $943.93 and its two-hundred day moving average is $806.38.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $6.99 EPS. On average, research analysts predict that Lam Research will post 28.96 earnings per share for the current year.

Lam Research Dividend Announcement

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

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

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.