Analysts predict that Lam Research Co. (NASDAQ:LRCX) will announce $3.20 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have made estimates for Lam Research’s earnings, with estimates ranging from $3.15 to $3.24. Lam Research posted earnings per share of $3.46 in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.5%. The firm is expected to announce its next earnings report on Tuesday, October 16th.
On average, analysts expect that Lam Research will report full year earnings of $15.51 per share for the current fiscal year, with EPS estimates ranging from $13.93 to $18.25. For the next financial year, analysts forecast that the business will report earnings of $18.79 per share, with EPS estimates ranging from $17.85 to $19.47. Zacks’ EPS averages 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 issued its earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.37. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.08 billion. Lam Research had a net margin of 21.49% and a return on equity of 47.28%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter last year, the business posted $3.11 EPS.
LRCX has been the subject of a number of research reports. Evercore ISI decreased their target price on shares of Lam Research to $240.00 and set an “outperform” rating for the company in a research note on Tuesday, July 17th. Zacks Investment Research raised shares of Lam Research from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Morgan Stanley reduced their price objective on shares of Lam Research from $219.00 to $208.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. BidaskClub lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Lam Research in a research note on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $249.80.
In related news, CEO Martin B. Anstice sold 25,122 shares of Lam Research stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $203.83, for a total value of $5,120,617.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Global X Management Co. LLC raised its holdings in Lam Research by 17.1% in the 1st quarter. Global X Management Co. LLC now owns 2,686 shares of the semiconductor company’s stock worth $546,000 after acquiring an additional 392 shares during the period. Ashfield Capital Partners LLC increased its holdings in shares of Lam Research by 102.9% during the 1st quarter. Ashfield Capital Partners LLC now owns 6,113 shares of the semiconductor company’s stock worth $1,242,000 after purchasing an additional 3,100 shares during the period. Hennessy Advisors Inc. bought a new position in shares of Lam Research during the 1st quarter worth about $4,687,000. Groesbeck Investment Management Corp NJ increased its holdings in shares of Lam Research by 3.7% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 16,186 shares of the semiconductor company’s stock worth $3,288,000 after purchasing an additional 580 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in shares of Lam Research by 114.8% during the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 16,708 shares of the semiconductor company’s stock worth $3,264,000 after purchasing an additional 8,928 shares during the period. Hedge funds and other institutional investors own 87.63% of the company’s stock.
Shares of NASDAQ:LRCX traded up $1.37 during trading on Monday, reaching $171.28. 2,537,400 shares of the company traded hands, compared to its average volume of 3,472,907. The firm has a market capitalization of $29.22 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.69 and a beta of 1.42. Lam Research has a 1-year low of $156.52 and a 1-year high of $234.88. The company has a quick ratio of 2.31, a current ratio of 2.90 and a debt-to-equity ratio of 0.28.
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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