Zacks: Analysts Expect Lam Research Co. (NASDAQ:LRCX) Will Announce Earnings of $3.04 Per Share

Wall Street analysts forecast that Lam Research Co. (NASDAQ:LRCX) will report earnings per share of $3.04 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Lam Research’s earnings, with the highest EPS estimate coming in at $3.23 and the lowest estimate coming in at $2.99. Lam Research posted earnings per share of $3.36 in the same quarter last year, which would indicate a negative year over year growth rate of 9.5%. The firm is expected to report its next earnings results on Tuesday, October 15th.

On average, analysts expect that Lam Research will report full year earnings of $13.57 per share for the current fiscal year, with EPS estimates ranging from $12.95 to $15.09. For the next fiscal year, analysts anticipate that the company will post earnings of $17.58 per share, with EPS estimates ranging from $15.99 to $20.73. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Lam Research.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.22. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The company’s revenue for the quarter was down 24.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.31 earnings per share.

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating on shares of Lam Research in a research report on Wednesday, August 7th. Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. KeyCorp boosted their price target on shares of Lam Research from $236.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BidaskClub upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Credit Suisse Group restated a “positive” rating on shares of Lam Research in a research report on Monday, July 8th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Lam Research presently has a consensus rating of “Hold” and an average target price of $224.69.

In other Lam Research news, insider Seshasayee Varadarajan sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $200.00, for a total value of $4,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Jennings sold 1,122 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $210.07, for a total transaction of $235,698.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,109 shares of company stock valued at $5,072,969. 0.44% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in LRCX. Lcnb Corp increased its holdings in shares of Lam Research by 2.2% during the second quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 50 shares in the last quarter. Cypress Capital LLC boosted its position in Lam Research by 1.4% in the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock worth $775,000 after purchasing an additional 56 shares in the last quarter. Confluence Wealth Management LLC boosted its position in Lam Research by 2.0% in the 2nd quarter. Confluence Wealth Management LLC now owns 2,906 shares of the semiconductor company’s stock worth $546,000 after purchasing an additional 56 shares in the last quarter. ETF Managers Group LLC boosted its position in Lam Research by 9.0% in the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 59 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in Lam Research by 10.7% in the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Shares of Lam Research stock traded up $3.24 on Friday, hitting $211.23. 49,788 shares of the company traded hands, compared to its average volume of 1,921,871. The stock has a market capitalization of $31.19 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.96 and a current ratio of 3.61. Lam Research has a 52 week low of $122.64 and a 52 week high of $218.49. The business has a 50-day simple moving average of $198.74 and a 200 day simple moving average of $188.39.

Lam Research Company Profile

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 product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

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