Lam Research Corp. (LRCX) Scheduled to Post Earnings on Wednesday
Lam Research Corp. (NASDAQ:LRCX) is scheduled to announce its earnings results after the market closes on Wednesday, October 19th. Analysts expect the company to announce earnings of $1.78 per share for the quarter. Lam Research Corp. has set its Q1 guidance at $1.67-1.87 EPS.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.16. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The business earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, analysts expect Lam Research Corp. to post $6.91 EPS for the current fiscal year and $7.54 EPS for the next fiscal year.
Lam Research Corp. (NASDAQ:LRCX) opened at 98.06 on Tuesday. The firm has a market cap of $15.72 billion, a PE ratio of 18.79 and a beta of 1.46. The company’s 50-day moving average is $94.63 and its 200 day moving average is $86.65. Lam Research Corp. has a one year low of $63.10 and a one year high of $102.44.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. Lam Research Corp.’s dividend payout ratio (DPR) is currently 22.99%.
A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Credit Suisse Group AG restated a “buy” rating and issued a $100.00 price target on shares of Lam Research Corp. in a research report on Sunday, August 14th. Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of Lam Research Corp. in a research report on Monday. Citigroup Inc. restated a “buy” rating and issued a $108.00 price target on shares of Lam Research Corp. in a research report on Thursday, October 6th. Finally, Zacks Investment Research upgraded shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Friday, July 29th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $101.38.
In related news, insider Richard A. Gottscho sold 47,540 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $98.85, for a total value of $4,699,329.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. National Pension Service increased its position in shares of Lam Research Corp. by 8.1% in the second quarter. National Pension Service now owns 117,684 shares of the company’s stock worth $9,893,000 after buying an additional 8,779 shares during the period. Quadrature Capital Ltd bought a new position in shares of Lam Research Corp. during the second quarter worth $1,211,000. GAM Holding AG increased its position in shares of Lam Research Corp. by 139.6% in the second quarter. GAM Holding AG now owns 42,981 shares of the company’s stock worth $3,613,000 after buying an additional 25,043 shares during the period. Commonwealth Bank of Australia increased its position in shares of Lam Research Corp. by 16.8% in the second quarter. Commonwealth Bank of Australia now owns 8,798 shares of the company’s stock worth $739,000 after buying an additional 1,266 shares during the period. Finally, Tredje AP fonden increased its position in shares of Lam Research Corp. by 51.6% in the second quarter. Tredje AP fonden now owns 15,142 shares of the company’s stock worth $1,273,000 after buying an additional 5,152 shares during the period.
Lam Research Corp. Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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