Lam Research (NASDAQ:LRCX) Releases Earnings Results, Beats Estimates 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 the consensus estimate of $7.26 by $0.53, Briefing.com reports. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.99 earnings per share. 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 Stock Up 1.6 %

Shares of LRCX stock traded up $13.82 during midday trading on Thursday, reaching $898.71. 342,260 shares of the stock were exchanged, compared to its average volume of 1,058,873. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $943.93 and its two-hundred day moving average is $806.38. The firm has a market cap of $117.82 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on 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 sale, the senior vice president now 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. In other Lam Research news, 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 value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last 90 days. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday. Wells Fargo & Company boosted their price target on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. UBS Group lifted their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Evercore ISI assumed coverage on shares of Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective for the company. Finally, Barclays increased their price target on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $932.85.

About Lam Research

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.