Lam Research (NASDAQ:LRCX) Updates Q4 2024 Earnings Guidance

Lam Research (NASDAQ:LRCX) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.750-8.250 for the period, compared to the consensus earnings per share estimate of 7.330. The company issued revenue guidance of $3.5 billion-$4.1 billion, compared to the consensus revenue estimate of $3.8 billion. Lam Research also updated its Q4 guidance to $6.75-$8.25 EPS.

Lam Research Price Performance

Shares of Lam Research stock traded down $2.53 on Wednesday, hitting $884.89. 1,946,455 shares of the company traded hands, compared to its average volume of 1,068,471. The stock has a market capitalization of $116.01 billion, a P/E ratio of 34.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The business has a 50-day simple moving average of $944.54 and a 200 day simple moving average of $805.82.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping 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 analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the business posted $10.71 earnings per share. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. Research analysts expect that Lam Research will post 28.92 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Analysts Set New Price Targets

LRCX has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. TD Cowen boosted their target price on shares of Lam Research from $710.00 to $975.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Wells Fargo & Company boosted their target price on shares of Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. Citigroup upped their price objective on shares of Lam Research from $800.00 to $975.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC upped their price objective on shares of Lam Research from $900.00 to $1,030.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research presently has an average rating of Moderate Buy and an average target price of $931.85.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s 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 sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 in the last three months. 0.32% of the stock is currently owned by insiders.

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.