$2.40 Billion in Sales Expected for Lam Research Co. (LRCX) This Quarter

Equities research analysts expect Lam Research Co. (NASDAQ:LRCX) to report sales of $2.40 billion for the current quarter, according to Zacks. Six analysts have issued estimates for Lam Research’s earnings, with estimates ranging from $2.40 billion to $2.41 billion. Lam Research reported sales of $2.89 billion during the same quarter last year, which would suggest a negative year over year growth rate of 17%. The company is expected to report its next quarterly earnings report on Tuesday, April 16th.

On average, analysts expect that Lam Research will report full year sales of $9.57 billion for the current fiscal year, with estimates ranging from $9.50 billion to $9.79 billion. For the next year, analysts expect that the firm will report sales of $9.60 billion, with estimates ranging from $9.06 billion to $10.54 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Lam Research.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 23rd. The semiconductor company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.67 by $0.20. Lam Research had a return on equity of 48.08% and a net margin of 26.69%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm posted $4.34 earnings per share. Lam Research’s revenue was down 2.2% compared to the same quarter last year.

Several brokerages have issued reports on LRCX. Citigroup reissued a “buy” rating and issued a $215.00 target price (up from $177.00) on shares of Lam Research in a research report on Friday. Needham & Company LLC began coverage on Lam Research in a research report on Friday, December 21st. They issued a “buy” rating and a $180.00 target price on the stock. ValuEngine raised Lam Research from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 28th. Morgan Stanley cut Lam Research from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 22nd. Finally, Zacks Investment Research raised Lam Research from a “strong sell” rating to a “hold” rating in a research report on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $218.68.

In related news, Director Christine Heckart sold 2,050 shares of Lam Research stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $172.98, for a total transaction of $354,609.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin Jennings sold 1,692 shares of Lam Research stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $180.00, for a total value of $304,560.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,311 shares of company stock worth $2,179,378. Insiders own 0.44% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LRCX. We Are One Seven LLC bought a new stake in Lam Research during the 4th quarter valued at approximately $26,000. Berman Capital Advisors LLC bought a new stake in Lam Research in the 4th quarter worth approximately $26,000. Duncker Streett & Co. Inc. increased its stake in Lam Research by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. FTB Advisors Inc. increased its stake in Lam Research by 72.0% in the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 90 shares during the last quarter. Finally, Csenge Advisory Group bought a new stake in Lam Research in the 3rd quarter worth approximately $35,000. 88.11% of the stock is currently owned by institutional investors.

Shares of Lam Research stock traded up $7.70 during trading on Tuesday, hitting $184.23. 3,559,402 shares of the company’s stock traded hands, compared to its average volume of 2,706,500. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.39 and a quick ratio of 2.61. Lam Research has a 1 year low of $122.64 and a 1 year high of $227.82. The stock has a market capitalization of $26.94 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52.

Lam Research declared that its board has authorized a share buyback plan on Wednesday, January 23rd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 23% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.39%. Lam Research’s payout ratio is currently 24.62%.

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 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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