Wall Street brokerages expect Lam Research Co. (NASDAQ:LRCX) to report sales of $2.35 billion for the current quarter, Zacks reports. Six analysts have made estimates for Lam Research’s earnings. Lam Research reported sales of $3.13 billion in the same quarter last year, which indicates a negative year over year growth rate of 24.9%. The company is scheduled to announce its next earnings results on Thursday, July 25th.
According to Zacks, analysts expect that Lam Research will report full-year sales of $9.64 billion for the current fiscal year, with estimates ranging from $9.63 billion to $9.66 billion. For the next fiscal year, analysts expect that the company will report sales of $9.59 billion, with estimates ranging from $9.10 billion to $10.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Lam Research.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.38 by $0.32. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company posted $4.79 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year.
LRCX has been the topic of a number of recent analyst reports. Deutsche Bank reduced their target price on Xilinx from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Cowen raised their target price on ServiceNow from $260.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. B. Riley set a $33.00 target price on Triumph Bancorp and gave the stock a “buy” rating in a report on Monday, April 22nd. BidaskClub upgraded Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Finally, Needham & Company LLC lifted their price objective on Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. Lam Research has an average rating of “Hold” and a consensus price target of $223.39.
LRCX stock traded down $0.83 during midday trading on Thursday, reaching $183.39. The stock had a trading volume of 68,426 shares, compared to its average volume of 2,239,053. The business’s fifty day moving average price is $182.39. The company has a current ratio of 3.37, a quick ratio of 2.79 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $28.16 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 1.06 and a beta of 1.59. Lam Research has a twelve month low of $122.64 and a twelve month high of $209.50.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 12th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.40%. The ex-dividend date was Tuesday, June 11th. Lam Research’s payout ratio is 24.62%.
In other Lam Research news, insider Richard A. Gottscho sold 2,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $209.00, for a total value of $450,395.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $203.00, for a total value of $809,564.00. The disclosure for this sale can be found here. Insiders sold a total of 13,391 shares of company stock worth $2,776,675 in the last 90 days. Company insiders own 0.44% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cypress Capital LLC increased its position in shares of Lam Research by 1.4% during the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock worth $775,000 after purchasing an additional 56 shares during the last quarter. ETF Managers Group LLC increased its position in shares of Lam Research by 9.0% during the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 59 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Lam Research by 6.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,081 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 63 shares during the last quarter. Synovus Financial Corp increased its position in shares of Lam Research by 10.7% during the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 63 shares during the last quarter. Finally, Brinker Capital Inc. increased its position in shares of Lam Research by 3.0% during the 1st quarter. Brinker Capital Inc. now owns 2,377 shares of the semiconductor company’s stock worth $426,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 86.50% 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 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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