Analysts Anticipate Lam Research Co. (LRCX) Will Announce Quarterly Sales of $2.30 Billion

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Equities research analysts expect Lam Research Co. (NASDAQ:LRCX) to announce $2.30 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Lam Research’s earnings, with estimates ranging from $2.30 billion to $2.31 billion. Lam Research reported sales of $2.48 billion during the same quarter last year, which would suggest a negative year over year growth rate of 7.3%. The company is expected to issue its next earnings report on Tuesday, October 16th.

According to Zacks, analysts expect that Lam Research will report full-year sales of $10.53 billion for the current financial year, with estimates ranging from $9.93 billion to $11.38 billion. For the next year, analysts expect that the company will post sales of $11.78 billion per share, with estimates ranging from $10.85 billion to $12.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Lam Research.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $5.31 EPS for the quarter, beating the consensus estimate of $4.94 by $0.37. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm posted $3.11 earnings per share. Lam Research’s revenue was up 33.3% compared to the same quarter last year.

Several research firms recently commented on LRCX. Stifel Nicolaus dropped their price objective on Lam Research from $295.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. JPMorgan Chase & Co. dropped their price objective on Lam Research from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Citigroup dropped their price objective on Lam Research from $239.00 to $216.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. BidaskClub cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Finally, Bank of America dropped their price objective on Lam Research from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, June 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $247.01.

Large investors have recently added to or reduced their stakes in the business. NuWave Investment Management LLC bought a new stake in Lam Research in the 2nd quarter worth approximately $100,000. Clear Perspective Advisors LLC bought a new stake in Lam Research in the 2nd quarter worth approximately $108,000. Signet Financial Management LLC increased its stake in Lam Research by 21,700.0% in the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after acquiring an additional 651 shares during the last quarter. Ruggie Capital Group bought a new stake in Lam Research in the 2nd quarter worth approximately $134,000. Finally, Financial Gravity Wealth Inc. bought a new stake in Lam Research in the 1st quarter worth approximately $165,000. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lam Research stock traded down $0.12 during trading on Tuesday, hitting $155.16. 34,353 shares of the company’s stock traded hands, compared to its average volume of 2,701,426. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.90 and a quick ratio of 2.31. Lam Research has a 1 year low of $149.02 and a 1 year high of $234.88. The stock has a market capitalization of $24.14 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 0.59 and a beta of 1.33.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 12th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, September 11th. Lam Research’s payout ratio is 24.62%.

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 ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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