FY2024 EPS Estimates for Lam Research Co. Lifted by Analyst (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) – Stock analysts at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of Lam Research in a report released on Thursday, April 25th. Cantor Fitzgerald analyst C. Muse now anticipates that the semiconductor company will post earnings of $29.66 per share for the year, up from their previous estimate of $28.97. Cantor Fitzgerald currently has a “Neutral” rating and a $1,100.00 target price on the stock. The consensus estimate for Lam Research’s current full-year earnings is $28.96 per share.

LRCX has been the topic of several other reports. Citigroup boosted their target price on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James boosted their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Mizuho boosted their price objective on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Up 0.7 %

NASDAQ:LRCX opened at $908.00 on Friday. Lam Research has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The company’s 50-day simple moving average is $943.68 and its 200-day simple moving average is $807.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The stock has a market capitalization of $119.04 billion, a P/E ratio of 33.15, a P/E/G ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $6.99 EPS.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is presently 29.42%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated 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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

A number of hedge funds have recently bought and sold shares of LRCX. Blue Whale Capital LLP lifted its position in Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after buying an additional 800 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 1,440 shares during the period. Gradient Investments LLC increased its position in Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Lam Research during the fourth quarter worth about $7,930,000. Finally, Treasurer of the State of North Carolina boosted its holdings in Lam Research by 0.9% in the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after purchasing an additional 560 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.