Lam Research Corporation (LRCX) to Post FY2018 Earnings of $14.25 Per Share, DA Davidson Forecasts
Lam Research Corporation (NASDAQ:LRCX) – Equities research analysts at DA Davidson upped their FY2018 earnings estimates for shares of Lam Research Corporation in a research note issued on Wednesday. DA Davidson analyst T. Diffely now expects that the semiconductor company will earn $14.25 per share for the year, up from their prior estimate of $13.15. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for Lam Research Corporation’s Q2 2019 earnings at $3.68 EPS and FY2019 earnings at $15.00 EPS.
Several other research analysts have also weighed in on the stock. Argus increased their price objective on shares of Lam Research Corporation from $196.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Berenberg Bank restated a “buy” rating and issued a $240.00 price target on shares of Lam Research Corporation in a report on Thursday. Needham & Company LLC raised their price target on shares of Lam Research Corporation from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday. Bank of America Corporation raised their price target on shares of Lam Research Corporation from $230.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday. Finally, J P Morgan Chase & Co restated a “buy” rating and issued a $230.00 price target on shares of Lam Research Corporation in a report on Wednesday. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $204.13.
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Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 2.17% on Friday, hitting $205.34. 3,104,274 shares of the company were exchanged. The company has a 50-day moving average price of $178.91 and a 200 day moving average price of $157.89. The firm has a market cap of $33.36 billion, a P/E ratio of 22.22 and a beta of 1.53. Lam Research Corporation has a 52-week low of $93.69 and a 52-week high of $206.34.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The business’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 16.45%.
In other news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $175.00, for a total transaction of $131,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Timothy Archer sold 8,691 shares of the firm’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. Insiders have sold 40,419 shares of company stock valued at $7,167,497 in the last three months. Corporate insiders own 0.41% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LRCX. Global X Management Co. LLC grew its position in shares of Lam Research Corporation by 32.5% during the first quarter. Global X Management Co. LLC now owns 2,755 shares of the semiconductor company’s stock worth $354,000 after buying an additional 676 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Lam Research Corporation in the first quarter worth $4,459,000. Marshall Wace North America L.P. acquired a new position in Lam Research Corporation in the first quarter worth $4,459,000. Menta Capital LLC acquired a new position in Lam Research Corporation in the first quarter worth $442,000. Finally, Vanguard Group Inc. boosted its holdings in Lam Research Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock worth $2,021,687,000 after purchasing an additional 471,405 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.
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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