Lam Research Co. (NASDAQ:LRCX) Expected to Post Quarterly Sales of $2.19 Billion

Wall Street brokerages expect that Lam Research Co. (NASDAQ:LRCX) will report $2.19 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Lam Research’s earnings. The highest sales estimate is $2.33 billion and the lowest is $2.15 billion. Lam Research posted sales of $2.33 billion during the same quarter last year, which suggests a negative year over year growth rate of 6%. The company is expected to report its next earnings results after the market closes on Wednesday, October 23rd.

According to Zacks, analysts expect that Lam Research will report full-year sales of $9.28 billion for the current fiscal year, with estimates ranging from $9.00 billion to $9.65 billion. For the next year, analysts anticipate that the company will report sales of $10.51 billion, with estimates ranging from $8.93 billion to $11.31 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Lam Research.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.40 by $0.22. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The business’s revenue for the quarter was down 24.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.31 EPS.

A number of brokerages recently weighed in on LRCX. Needham & Company LLC boosted their price target on shares of Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Nomura began coverage on shares of Lam Research in a report on Wednesday, September 18th. They issued a “neutral” rating and a $216.00 price target on the stock. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. ValuEngine downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co raised shares of Lam Research to a “market perform” rating and boosted their price target for the stock from $200.00 to $235.00 in a report on Thursday, September 19th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $227.41.

Shares of NASDAQ:LRCX traded down $4.44 during midday trading on Thursday, reaching $227.70. The company had a trading volume of 1,420,719 shares, compared to its average volume of 2,072,229. The company’s 50 day moving average price is $224.41 and its 200 day moving average price is $199.87. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.81. The stock has a market cap of $32.98 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.58 and a beta of 1.65. Lam Research has a 52-week low of $122.64 and a 52-week high of $244.98.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be paid a $1.15 dividend. This is a boost from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, September 30th. Lam Research’s payout ratio is currently 31.62%.

In related news, insider Kevin Jennings sold 1,122 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $210.07, for a total value of $235,698.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sarah A. O’dowd sold 22,140 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $233.77, for a total value of $5,175,667.80. The disclosure for this sale can be found here. Insiders sold a total of 67,997 shares of company stock worth $14,854,855 over the last 90 days. 0.43% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in shares of Lam Research by 7.4% in the first quarter. First Trust Advisors LP now owns 642,650 shares of the semiconductor company’s stock worth $115,041,000 after purchasing an additional 44,142 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Lam Research by 15.8% in the first quarter. Envestnet Asset Management Inc. now owns 78,289 shares of the semiconductor company’s stock worth $14,015,000 after purchasing an additional 10,711 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Lam Research in the first quarter worth approximately $985,000. Zions Bancorporation N.A. bought a new position in shares of Lam Research in the first quarter worth approximately $28,000. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Lam Research in the first quarter worth approximately $140,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

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.

Featured Story: Market Indexes

Get a free copy of the Zacks research report on Lam Research (LRCX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.