Lam Research (NASDAQ:LRCX) Updates Q4 Earnings Guidance

Lam Research (NASDAQ:LRCX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $6.75-$8.25 for the period, compared to the consensus EPS estimate of $7.30. The company issued revenue guidance of $3.5-$4.1 billion, compared to the consensus revenue estimate of $3.77 billion. Lam Research also updated its Q4 2024 guidance to 6.750-8.250 EPS.

Lam Research Stock Up 2.8 %

LRCX stock traded up $24.41 on Thursday, reaching $909.30. 673,225 shares of the company traded hands, compared to its average volume of 1,063,468. The firm has a fifty day simple moving average of $943.93 and a 200-day simple moving average of $806.38. The company has a market cap of $119.21 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51. Lam Research has a one year low of $493.42 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results 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 the consensus estimate of $3.72 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $6.99 earnings per share. Research analysts anticipate that Lam Research will post 28.96 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.88%. Lam Research’s dividend payout ratio is presently 30.94%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LRCX. Cantor Fitzgerald restated a neutral rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday. Evercore ISI initiated coverage on Lam Research in a research note on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 price target for the company. Susquehanna dropped their price objective on Lam Research from $880.00 to $850.00 and set a neutral rating on the stock in a research report on Thursday. Raymond James boosted their target price on Lam Research from $850.00 to $950.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lam Research from $900.00 to $950.00 and gave the company an overweight rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $948.35.

Insider Activity at Lam Research

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

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.