Lam Research Co. (LRCX) Expected to Announce Quarterly Sales of $2.30 Billion

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Brokerages expect that Lam Research Co. (NASDAQ:LRCX) will announce sales of $2.30 billion for the current quarter, Zacks reports. Six analysts have issued estimates for Lam Research’s earnings, with estimates ranging from $2.30 billion to $2.31 billion. Lam Research posted sales of $2.48 billion during the same quarter last year, which would indicate a negative year over year growth rate of 7.3%. The company is scheduled to report its next earnings report on Tuesday, October 16th.

On average, analysts expect that Lam Research will report full year sales of $10.53 billion for the current financial year, with estimates ranging from $9.93 billion to $11.38 billion. For the next fiscal year, analysts expect that the business will report sales of $11.78 billion, with estimates ranging from $10.85 billion to $12.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Lam Research.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.94 by $0.37. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business posted $3.11 earnings per share. The company’s revenue was up 33.3% on a year-over-year basis.

Several brokerages have recently commented on LRCX. BidaskClub lowered Lam Research from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. ValuEngine lowered Lam Research from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Zacks Investment Research raised Lam Research from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Citigroup cut their price objective on Lam Research from $239.00 to $216.00 and set a “buy” rating for the company in a report on Monday, July 30th. Finally, Evercore ISI cut their price objective on Lam Research to $240.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Lam Research presently has a consensus rating of “Buy” and a consensus target price of $245.45.

Shares of LRCX traded down $3.45 during midday trading on Tuesday, hitting $151.29. 3,437,700 shares of the company traded hands, compared to its average volume of 3,384,805. Lam Research has a one year low of $149.02 and a one 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 0.27. The stock has a market cap of $24.53 billion, a PE ratio of 8.65, a P/E/G ratio of 0.60 and a beta of 1.34.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 12th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, September 11th. Lam Research’s dividend payout ratio is currently 24.62%.

Institutional investors and hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC purchased a new stake in Lam Research in the second quarter worth approximately $402,000. Signet Financial Management LLC boosted its stake in Lam Research by 21,700.0% in the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after buying an additional 651 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Lam Research by 7.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,894 shares of the semiconductor company’s stock worth $3,784,000 after buying an additional 1,528 shares in the last quarter. Morgan Stanley boosted its stake in shares of Lam Research by 83.1% during the second quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock valued at $264,481,000 after purchasing an additional 694,440 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in shares of Lam Research by 31.6% during the first quarter. Quadrature Capital Ltd now owns 28,611 shares of the semiconductor company’s stock valued at $5,813,000 after purchasing an additional 6,871 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.

Lam Research Company Profile

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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