Equities analysts expect Lam Research Co. (NASDAQ:LRCX) to report $4.36 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Lam Research’s earnings. The highest EPS estimate is $4.41 and the lowest is $4.31. Lam Research reported earnings per share of $2.80 during the same quarter last year, which indicates a positive year-over-year growth rate of 55.7%. The business is scheduled to report its next quarterly earnings report on Tuesday, April 17th.
According to Zacks, analysts expect that Lam Research will report full-year earnings of $16.74 per share for the current financial year, with EPS estimates ranging from $16.25 to $17.07. For the next fiscal year, analysts forecast that the business will report earnings of $15.89 per share, with EPS estimates ranging from $14.71 to $17.39. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Lam Research.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the business earned $2.24 EPS. Lam Research’s revenue for the quarter was up 37.1% compared to the same quarter last year.
Several research analysts have recently commented on LRCX shares. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price (up previously from $200.00) on shares of Lam Research in a research report on Friday, October 13th. KeyCorp restated a “buy” rating and set a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. BidaskClub downgraded Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. B. Riley restated a “buy” rating and set a $250.00 target price on shares of Lam Research in a research note on Tuesday, November 14th. Finally, Vetr downgraded Lam Research from a “buy” rating to a “hold” rating and set a $218.49 target price for the company. in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $232.41.
Shares of Lam Research (LRCX) traded down $0.16 on Monday, hitting $178.90. The stock had a trading volume of 2,460,226 shares, compared to its average volume of 3,647,690. The firm has a market cap of $29,210.00, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 0.72 and a beta of 1.47. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. Lam Research has a one year low of $113.20 and a one year high of $219.70.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This is a boost from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research’s dividend payout ratio is presently 22.03%.
Lam Research announced that its board has approved a share buyback program on Tuesday, November 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Patrick J. Lord sold 264 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,722 shares of company stock worth $12,088,028. 0.41% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Schroder Investment Management Group increased its stake in Lam Research by 3,248.5% in the 3rd quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock worth $127,933,000 after buying an additional 682,612 shares during the period. Nordea Investment Management AB raised its position in Lam Research by 66.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after buying an additional 626,034 shares during the last quarter. Koch Industries Inc. purchased a new position in Lam Research during the 2nd quarter worth approximately $309,000. Graticule Asia Macro Advisors LLC purchased a new position in Lam Research during the 3rd quarter worth approximately $51,400,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Lam Research by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after purchasing an additional 271,546 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.
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Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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