Lam Research (NASDAQ:LRCX) Posts Earnings Results, Beats Expectations By $0.53 EPS

Lam Research (NASDAQ:LRCX) posted its quarterly earnings results on Wednesday. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53, Briefing.com reports. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business earned $6.99 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Lam Research updated its Q4 guidance to $6.75-$8.25 EPS and its Q4 2024 guidance to 6.750-8.250 EPS.

Lam Research Price Performance

Shares of Lam Research stock traded up $10.07 during midday trading on Thursday, hitting $894.96. 373,716 shares of the company were exchanged, compared to its average volume of 1,059,362. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm has a market cap of $117.33 billion, a P/E ratio of 34.83, a PEG ratio of 3.21 and a beta of 1.51. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The firm has a 50 day simple moving average of $943.93 and a 200-day simple moving average of $806.38.

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. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is presently 30.94%.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The stock was 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 in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 in the last 90 days. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Susquehanna lowered their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company increased their price objective on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and increased their price objective for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. Finally, Stifel Nicolaus increased their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $932.85.

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.