Analysts forecast that Lam Research (NASDAQ:LRCX) will report sales of $3.10 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Lam Research’s earnings. The highest sales estimate is $3.13 billion and the lowest is $3.10 billion. Lam Research reported sales of $2.34 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 32.5%. The business is scheduled to report its next earnings report on Wednesday, July 25th.
On average, analysts expect that Lam Research will report full-year sales of $11.05 billion for the current year, with estimates ranging from $11.04 billion to $11.08 billion. For the next financial year, analysts anticipate that the firm will report sales of $12.05 billion per share, with estimates ranging from $11.54 billion to $12.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Lam Research.
Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.38 by $0.41. Lam Research had a return on equity of 41.13% and a net margin of 18.32%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the company posted $3.10 earnings per share. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year.
Several research analysts have recently weighed in on the company. ValuEngine upgraded Lam Research from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus boosted their price target on Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Citigroup upgraded Lam Research from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $234.88 to $200.00 in a research note on Monday, May 14th. JPMorgan Chase & Co. boosted their price target on Lam Research from $230.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Morgan Stanley boosted their price target on Lam Research from $229.00 to $238.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $257.06.
Shares of Lam Research traded down $2.34, hitting $202.03, during mid-day trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 2,261,841 shares, compared to its average volume of 3,641,052. Lam Research has a 52-week low of $139.24 and a 52-week high of $234.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.64 and a quick ratio of 2.21. The stock has a market capitalization of $33.35 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.65 and a beta of 1.41.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, June 5th. This is a boost from Lam Research’s previous quarterly dividend of $0.50. Lam Research’s dividend payout ratio is 20.04%.
Lam Research announced that its board has approved a share repurchase plan on Tuesday, March 6th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, insider Sarah A. O’dowd sold 10,000 shares of the company’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $224.28, for a total transaction of $2,242,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin B. Anstice sold 25,122 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $203.83, for a total value of $5,120,617.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,270 shares of company stock valued at $22,072,958. 0.41% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. First National Trust Co purchased a new stake in Lam Research in the fourth quarter worth about $201,000. Schwab Charles Investment Management Inc. increased its position in Lam Research by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 610,178 shares of the semiconductor company’s stock worth $112,316,000 after buying an additional 20,480 shares in the last quarter. State of Alaska Department of Revenue increased its position in Lam Research by 168.6% in the fourth quarter. State of Alaska Department of Revenue now owns 19,004 shares of the semiconductor company’s stock worth $3,497,000 after buying an additional 11,930 shares in the last quarter. Arvest Bank Trust Division purchased a new stake in Lam Research in the fourth quarter worth about $11,306,000. Finally, Bowling Portfolio Management LLC increased its position in Lam Research by 31.3% in the fourth quarter. Bowling Portfolio Management LLC now owns 29,640 shares of the semiconductor company’s stock worth $5,456,000 after buying an additional 7,070 shares in the last quarter. Institutional investors own 88.24% 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 thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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