Lam Research (LRCX) Scheduled to Post Quarterly Earnings on Wednesday

Lam Research (NASDAQ:LRCX) will be announcing its earnings results after the market closes on Wednesday, April 17th. Analysts expect the company to announce earnings of $7.23 per share for the quarter. Lam Research has set its Q3 guidance at $6.50-8.00 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm posted $10.71 EPS. The company’s revenue was down 28.8% on a year-over-year basis. On average, analysts expect Lam Research to post $29 EPS for the current fiscal year and $35 EPS for the next fiscal year.

Lam Research Stock Performance

Shares of LRCX stock opened at $946.17 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm has a market capitalization of $124.04 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 3.47 and a beta of 1.51. Lam Research has a one year low of $482.74 and a one year high of $1,007.39. The company has a 50 day moving average price of $941.93 and a 200 day moving average price of $794.36.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.85%. Lam Research’s payout ratio is 30.94%.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. Quarry LP acquired a new position in shares of Lam Research during the 4th quarter valued at $33,000. First Manhattan CO. LLC. raised its stake in shares of Lam Research by 117.2% in the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock worth $33,000 after buying an additional 34 shares in the last quarter. Chilton Capital Management LLC bought a new position in Lam Research during the first quarter valued at about $36,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Lam Research during the fourth quarter worth about $39,000. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LRCX shares. Cantor Fitzgerald upped their price target on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Raymond James lifted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Stifel Nicolaus lifted their target price on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, TD Cowen raised their price objective on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $871.00.

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.