Brokerages Anticipate Lam Research Co. (NASDAQ:LRCX) Will Post Earnings of $3.82 Per Share

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Analysts forecast that Lam Research Co. (NASDAQ:LRCX) will announce earnings of $3.82 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Lam Research’s earnings, with estimates ranging from $3.71 to $3.90. Lam Research reported earnings per share of $3.87 in the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, January 22nd.

On average, analysts expect that Lam Research will report full year earnings of $15.21 per share for the current year, with EPS estimates ranging from $14.54 to $15.85. For the next fiscal year, analysts forecast that the company will report earnings of $18.54 per share, with EPS estimates ranging from $17.25 to $20.46. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Lam Research.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.17. Lam Research had a return on equity of 43.11% and a net margin of 22.38%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business posted $3.36 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis.

Several brokerages recently issued reports on LRCX. Nomura increased their price objective on Lam Research from $216.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Evercore ISI raised Lam Research from an “in-line” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Mizuho increased their price objective on Lam Research from $194.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. They noted that the move was a valuation call. ValuEngine cut Lam Research from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, UBS Group cut Lam Research from a “neutral” rating to a “sell” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $260.50.

In other Lam Research news, SVP Seshasayee Varadarajan sold 20,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $240.00, for a total transaction of $4,800,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas R. Bettinger sold 18,693 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $279.03, for a total value of $5,215,907.79. The disclosure for this sale can be found here. Insiders have sold a total of 58,934 shares of company stock worth $15,530,332 in the last ninety days. Insiders own 0.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Marquette Asset Management LLC purchased a new stake in shares of Lam Research during the 3rd quarter valued at $35,000. MUFG Americas Holdings Corp lifted its holdings in shares of Lam Research by 75.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Next Capital Management LLC purchased a new stake in shares of Lam Research during the 2nd quarter valued at $35,000. HM Payson & Co. purchased a new stake in shares of Lam Research during the 2nd quarter valued at $36,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Lam Research during the 3rd quarter valued at $49,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:LRCX traded down $2.75 during midday trading on Monday, hitting $281.95. The stock had a trading volume of 2,256,992 shares, compared to its average volume of 1,341,449. Lam Research has a one year low of $122.64 and a one year high of $288.87. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.34 and a beta of 1.64. The stock has a 50-day moving average of $272.07 and a 200 day moving average of $222.94. The company has a quick ratio of 2.99, a current ratio of 3.59 and a debt-to-equity ratio of 0.76.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $1.15 per share. The ex-dividend date is Tuesday, December 10th. This represents a $4.60 annualized dividend and a yield of 1.63%. Lam Research’s dividend payout ratio (DPR) is presently 31.62%.

About Lam Research

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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