Lam Research Co. (NASDAQ:LRCX) Expected to Announce Earnings of $3.01 Per Share

Brokerages expect Lam Research Co. (NASDAQ:LRCX) to report earnings of $3.01 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Lam Research’s earnings. The lowest EPS estimate is $2.99 and the highest is $3.10. Lam Research posted earnings of $3.36 per share in the same quarter last year, which would indicate a negative year over year growth rate of 10.4%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 15th.

On average, analysts expect that Lam Research will report full year earnings of $13.60 per share for the current fiscal year, with EPS estimates ranging from $12.95 to $15.09. For the next year, analysts expect that the company will report earnings of $17.78 per share, with EPS estimates ranging from $16.46 to $20.73. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Lam Research.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, topping the Zacks’ consensus estimate of $3.40 by $0.22. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the business earned $5.31 EPS. The company’s quarterly revenue was down 24.5% compared to the same quarter last year.

A number of research firms have recently commented on LRCX. Needham & Company LLC boosted their price objective on Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Citigroup boosted their price objective on Lam Research from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Evercore ISI raised Lam Research from an “in-line” rating to an “outperform” rating in a research note on Tuesday, September 3rd. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Cfra set a $210.00 price objective on Lam Research and gave the stock a “hold” rating in a research note on Saturday, August 31st. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $227.41.

In other news, insider Seshasayee Varadarajan sold 20,000 shares of Lam Research stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $200.00, for a total transaction of $4,000,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Vahid Vahedi sold 12,007 shares of Lam Research stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total value of $2,641,540.00. The disclosure for this sale can be found here. Insiders sold a total of 67,997 shares of company stock worth $14,854,855 over the last 90 days. Insiders own 0.43% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Rehmann Capital Advisory Group grew its holdings in shares of Lam Research by 4.7% during the second quarter. Rehmann Capital Advisory Group now owns 2,456 shares of the semiconductor company’s stock valued at $462,000 after buying an additional 111 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Lam Research by 61.2% during the second quarter. Toronto Dominion Bank now owns 161,210 shares of the semiconductor company’s stock valued at $30,276,000 after buying an additional 61,213 shares in the last quarter. Atria Investments LLC grew its holdings in shares of Lam Research by 2.7% during the second quarter. Atria Investments LLC now owns 8,099 shares of the semiconductor company’s stock valued at $1,625,000 after buying an additional 216 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Lam Research by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 61,849 shares of the semiconductor company’s stock valued at $11,618,000 after buying an additional 1,030 shares in the last quarter. Finally, Breiter Capital Management Inc. grew its holdings in shares of Lam Research by 78.5% during the second quarter. Breiter Capital Management Inc. now owns 2,908 shares of the semiconductor company’s stock valued at $546,000 after buying an additional 1,279 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Shares of LRCX traded down $0.72 during midday trading on Tuesday, reaching $230.39. The stock had a trading volume of 1,494,343 shares, compared to its average volume of 2,091,687. Lam Research has a 52 week low of $122.64 and a 52 week high of $244.98. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.61 and a quick ratio of 2.96. The firm’s 50 day moving average price is $219.60 and its 200-day moving average price is $197.78. The company has a market capitalization of $33.32 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.41 and a beta of 1.62.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date is Monday, September 30th. Lam Research’s payout ratio is presently 30.24%.

About Lam Research

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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