Analysts expect that Lam Research (NASDAQ:LRCX) will announce $3.10 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Lam Research’s earnings, with estimates ranging from $3.10 billion to $3.13 billion. Lam Research posted sales of $2.34 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.5%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Lam Research will report full year sales of $11.05 billion for the current fiscal year, with estimates ranging from $11.04 billion to $11.08 billion. For the next financial year, analysts forecast that the company will post sales of $12.05 billion per share, with estimates ranging from $11.54 billion to $12.53 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Lam Research.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.38 by $0.41. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.85 billion. Lam Research had a return on equity of 41.13% and a net margin of 18.32%. The business’s revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.10 EPS.
Several research analysts have recently issued reports on LRCX shares. ValuEngine raised Lam Research from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Deutsche Bank reaffirmed a “buy” rating and set a $240.00 price target on shares of Lam Research in a research note on Thursday, January 25th. Stifel Nicolaus lifted their price target on Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target (up previously from $235.00) on shares of Lam Research in a research note on Thursday, January 25th. Finally, ICAP reiterated a “buy” rating and set a $240.00 price objective on shares of Lam Research in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $257.06.
Shares of Lam Research traded up $0.31, hitting $203.29, during midday trading on Friday, MarketBeat Ratings reports. 739,064 shares of the stock were exchanged, compared to its average volume of 2,894,479. The company has a market capitalization of $32.79 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41. The company has a quick ratio of 2.21, a current ratio of 2.64 and a debt-to-equity ratio of 0.26. Lam Research has a twelve month low of $139.24 and a twelve month high of $234.88.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 6th will be issued a $1.10 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a $4.40 annualized dividend and a yield of 2.16%. Lam Research’s payout ratio is 20.04%.
Lam Research announced that its board has approved a stock repurchase plan on Tuesday, March 6th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Timothy Archer sold 6,465 shares of Lam Research stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $214.28, for a total value of $1,385,320.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Patrick J. Lord sold 6,208 shares of Lam Research stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $193.65, for a total value of $1,202,179.20. The disclosure for this sale can be found here. Insiders sold a total of 79,148 shares of company stock valued at $16,952,340 in the last 90 days. 0.41% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First National Trust Co acquired a new position in Lam Research during the 4th quarter worth approximately $201,000. Schwab Charles Investment Management Inc. lifted its position in Lam Research by 3.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 610,178 shares of the semiconductor company’s stock worth $112,316,000 after acquiring an additional 20,480 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Lam Research by 168.6% during the 4th quarter. State of Alaska Department of Revenue now owns 19,004 shares of the semiconductor company’s stock worth $3,497,000 after acquiring an additional 11,930 shares in the last quarter. Arvest Bank Trust Division acquired a new position in Lam Research during the 4th quarter worth approximately $11,306,000. Finally, Bowling Portfolio Management LLC lifted its position in Lam Research by 31.3% during the 4th quarter. Bowling Portfolio Management LLC now owns 29,640 shares of the semiconductor company’s stock worth $5,456,000 after acquiring an additional 7,070 shares in the last quarter. 88.24% of the stock is currently owned by institutional investors and hedge funds.
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 thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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