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

Lam Research (NASDAQ:LRCX) is scheduled to be releasing its earnings data after the market closes on Wednesday, April 17th. Analysts expect Lam Research to post earnings of $7.23 per share for the quarter. Lam Research has set its Q3 guidance at $6.50-8.00 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating 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 company 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 company earned $10.71 earnings per share. The firm’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 Price Performance

NASDAQ:LRCX opened at $946.17 on Tuesday. Lam Research has a one year low of $482.74 and a one year high of $1,007.39. 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 cap of $124.04 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 3.47 and a beta of 1.51. The firm’s fifty day moving average is $941.93 and its two-hundred day moving average is $794.36.

Lam Research Announces Dividend

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

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on 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 directly 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. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently made changes to their positions in the stock. Hobbs Group Advisors LLC purchased a new position in Lam Research in the 4th quarter valued at approximately $27,000. Quarry LP purchased a new position in Lam Research in the 4th quarter valued at approximately $33,000. First Manhattan CO. LLC. boosted its position in Lam Research by 117.2% in the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 34 shares during the period. Chilton Capital Management LLC purchased a new position in Lam Research in the 1st quarter valued at approximately $36,000. Finally, O Dell Group LLC purchased a new position in Lam Research in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LRCX. UBS Group upped their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Barclays increased their target price on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Susquehanna increased their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Citigroup upped their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group upped their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $848.27.

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.