Analysts Expect Lam Research Corporation (LRCX) Will Announce Quarterly Sales of $2.45 Billion
Wall Street brokerages expect that Lam Research Corporation (NASDAQ:LRCX) will post sales of $2.45 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Lam Research Corporation’s earnings, with estimates ranging from $2.45 billion to $2.46 billion. Lam Research Corporation posted sales of $1.63 billion in the same quarter last year, which would indicate a positive year over year growth rate of 50.3%. The company is expected to announce its next earnings results after the market closes on Tuesday, October 17th.
On average, analysts expect that Lam Research Corporation will report full-year sales of $2.45 billion for the current financial year, with estimates ranging from $9.07 billion to $10.20 billion. For the next year, analysts anticipate that the company will report sales of $10.10 billion per share, with estimates ranging from $9.58 billion to $10.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lam Research Corporation.
Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year.
Several equities analysts recently issued reports on LRCX shares. Zacks Investment Research lowered Lam Research Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. KeyCorp reiterated an “outperform” rating and issued a $202.00 price objective on shares of Lam Research Corporation in a research report on Saturday, September 16th. Argus began coverage on Lam Research Corporation in a research report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective on shares of Lam Research Corporation in a research note on Friday, September 1st. Finally, ValuEngine lowered Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $177.68.
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Lam Research Corporation (NASDAQ LRCX) opened at 184.87 on Wednesday. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $187.57. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 20.01 and a beta of 1.53. The firm’s 50-day moving average is $169.12 and its 200 day moving average is $152.90.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 0.97%. Lam Research Corporation’s payout ratio is 19.57%.
In other news, COO Timothy Archer sold 11,590 shares of Lam Research Corporation stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $181.76, for a total transaction of $2,106,598.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,816 shares of company stock valued at $8,466,705. 0.41% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. W. E. Donoghue & Co. LLC purchased a new stake in shares of Lam Research Corporation in the 2nd quarter worth approximately $2,095,000. Intl Fcstone Inc. bought a new position in Lam Research Corporation during the 2nd quarter valued at approximately $242,000. BRILLIANCE ASSET MANAGEMENT Ltd increased its position in Lam Research Corporation by 58.1% during the 2nd quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 133,491 shares of the semiconductor company’s stock valued at $18,880,000 after buying an additional 49,060 shares in the last quarter. Navellier & Associates Inc bought a new position in Lam Research Corporation during the 2nd quarter valued at approximately $2,432,000. Finally, WFG Advisors LP increased its position in Lam Research Corporation by 21.2% during the 2nd quarter. WFG Advisors LP now owns 2,992 shares of the semiconductor company’s stock valued at $423,000 after buying an additional 524 shares in the last quarter. 93.96% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Corporation 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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