Lam Research Co. (NASDAQ:LRCX) Expected to Announce Earnings of $7.28 Per Share

Equities research analysts expect that Lam Research Co. (NASDAQ:LRCXGet Rating) will report $7.28 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have issued estimates for Lam Research’s earnings. The highest EPS estimate is $7.41 and the lowest is $7.25. Lam Research reported earnings of $8.09 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Lam Research will report full-year earnings of $31.61 per share for the current financial year, with EPS estimates ranging from $31.54 to $31.92. For the next financial year, analysts forecast that the business will post earnings of $38.44 per share, with EPS estimates ranging from $35.91 to $41.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Lam Research.

Lam Research (NASDAQ:LRCXGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share for the quarter, missing the consensus estimate of $7.48 by ($0.08). Lam Research had a net margin of 27.13% and a return on equity of 75.51%. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $7.49 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis.

LRCX has been the topic of several research analyst reports. Mizuho decreased their price objective on shares of Lam Research from $725.00 to $675.00 and set a “buy” rating on the stock in a research report on Thursday, April 21st. KeyCorp initiated coverage on shares of Lam Research in a research report on Tuesday, January 25th. They issued a “sector weight” rating on the stock. Barclays decreased their price objective on shares of Lam Research from $700.00 to $625.00 and set an “overweight” rating on the stock in a research report on Thursday, April 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lam Research from $650.00 to $560.00 and set a “hold” rating on the stock in a research report on Wednesday, April 13th. Finally, Susquehanna Bancshares decreased their price objective on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a research report on Thursday, January 27th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $670.90.

Shares of LRCX traded up $31.49 during midday trading on Friday, hitting $491.92. 1,908,547 shares of the company traded hands, compared to its average volume of 1,410,791. The stock has a 50-day moving average of $496.72 and a 200-day moving average of $585.04. Lam Research has a one year low of $442.53 and a one year high of $731.85. The firm has a market cap of $68.23 billion, a P/E ratio of 15.38, a PEG ratio of 0.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.00.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, June 14th. Lam Research’s dividend payout ratio (DPR) is presently 18.76%.

In related news, SVP Scott Gerald Meikle sold 700 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $541.22, for a total value of $378,854.00. Following the completion of the sale, the senior vice president now owns 20,425 shares of the company’s stock, valued at $11,054,418.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Catherine P. Lego purchased 1,736 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The stock was acquired at an average cost of $460.35 per share, with a total value of $799,167.60. Following the purchase, the director now directly owns 49,991 shares of the company’s stock, valued at $23,013,356.85. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

A number of hedge funds have recently made changes to their positions in LRCX. Pinnacle Private Wealth LLC bought a new position in Lam Research in the fourth quarter worth $380,000. M&G Investment Management Ltd. raised its holdings in Lam Research by 28.2% in the fourth quarter. M&G Investment Management Ltd. now owns 111,974 shares of the semiconductor company’s stock worth $80,509,000 after purchasing an additional 24,641 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Lam Research by 57.3% in the third quarter. Maverick Capital Ltd. now owns 270,922 shares of the semiconductor company’s stock worth $154,195,000 after purchasing an additional 98,641 shares in the last quarter. State of Michigan Retirement System raised its holdings in Lam Research by 4.8% in the fourth quarter. State of Michigan Retirement System now owns 38,769 shares of the semiconductor company’s stock worth $27,881,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Laffer Tengler Investments raised its holdings in Lam Research by 18.3% in the third quarter. Laffer Tengler Investments now owns 6,977 shares of the semiconductor company’s stock worth $3,971,000 after purchasing an additional 1,081 shares in the last quarter. 82.34% of the stock is owned by institutional investors.

Lam Research Company Profile (Get Rating)

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.

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

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