Lam Research (NASDAQ:LRCX) Releases Earnings Results, Beats Expectations By $0.53 EPS

Lam Research (NASDAQ:LRCX) issued its quarterly earnings results on Wednesday. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53, Briefing.com reports. The company 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%. Lam Research’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $6.99 earnings per share. 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 Price Performance

LRCX stock traded up $17.71 during mid-day trading on Thursday, hitting $902.60. 425,316 shares of the stock were exchanged, compared to its average volume of 1,060,296. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The business has a fifty day moving average price of $943.93 and a 200 day moving average price of $806.38. 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 price-to-earnings ratio of 34.85, a PEG ratio of 3.21 and a beta of 1.51.

Lam Research Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LRCX. Mizuho increased their price target on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Susquehanna decreased their price target on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research report on Thursday. Stifel Nicolaus increased their price target on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, TD Cowen raised their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. Seven research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $933.85.

Insider Transactions at Lam Research

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 value 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 transaction was disclosed in a document filed with the SEC, which can be accessed 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 value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 worth $6,559,489. Company 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.