Analysts Set Expectations for Lam Research Corporation’s Q3 2018 Earnings (LRCX)
Lam Research Corporation (NASDAQ:LRCX) – Equities research analysts at KeyCorp raised their Q3 2018 earnings per share estimates for Lam Research Corporation in a note issued to investors on Tuesday. KeyCorp analyst W. Twigg now expects that the semiconductor company will post earnings per share of $3.79 for the quarter, up from their previous estimate of $3.33. KeyCorp has a “Buy” rating and a $225.00 price target on the stock. KeyCorp also issued estimates for Lam Research Corporation’s FY2018 earnings at $14.46 EPS and FY2019 earnings at $14.35 EPS.
Several other research firms have also weighed in on LRCX. BidaskClub upgraded shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating and issued a $176.00 target price on shares of Lam Research Corporation in a report on Monday, August 14th. Vetr lowered shares of Lam Research Corporation from a “buy” rating to a “hold” rating and set a $196.77 target price on the stock. in a report on Monday. DA Davidson reiterated a “buy” rating and issued a $215.00 target price on shares of Lam Research Corporation in a report on Thursday, October 12th. Finally, Citigroup Inc. boosted their target price on shares of Lam Research Corporation from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Lam Research Corporation presently has a consensus rating of “Buy” and a consensus price target of $204.13.
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Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 2.17% during mid-day trading on Friday, reaching $205.34. 3,089,068 shares of the company’s stock traded hands. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $206.34. The company’s 50-day moving average price is $178.91 and its 200-day moving average price is $157.89. The stock has a market capitalization of $33.36 billion, a PE ratio of 22.22 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The firm’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 earnings per share.
Institutional investors have recently added to or reduced their stakes in the business. Odey Holdings AG lifted its holdings in Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in Lam Research Corporation during the 2nd quarter worth approximately $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Lam Research Corporation during the 2nd quarter worth approximately $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after buying an additional 860 shares in the last quarter. Finally, Sun Life Financial INC lifted its holdings in Lam Research Corporation by 10,672.7% during the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after buying an additional 1,174 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.
In other news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $170.00, for a total value of $127,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Timothy Archer sold 8,691 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total transaction of $1,492,766.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,419 shares of company stock worth $7,167,497. Company insiders own 0.41% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 0.88%. Lam Research Corporation’s dividend payout ratio is currently 16.45%.
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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