$2.56 Billion in Sales Expected for Lam Research Corporation (LRCX) This Quarter
Equities analysts expect Lam Research Corporation (NASDAQ:LRCX) to post $2.56 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Lam Research Corporation’s earnings, with the highest sales estimate coming in at $2.59 billion and the lowest estimate coming in at $2.55 billion. Lam Research Corporation reported sales of $1.88 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 36.2%. The firm is scheduled to announce its next earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that Lam Research Corporation will report full year sales of $2.56 billion for the current year, with estimates ranging from $9.74 billion to $10.72 billion. For the next financial year, analysts expect that the firm will post sales of $10.64 billion per share, with estimates ranging from $10.28 billion to $11.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Lam Research Corporation.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results 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. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $1.81 earnings per share. The business’s revenue for the quarter was up 51.8% on a year-over-year basis.
Several analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research report on Tuesday, August 1st. KeyCorp reiterated a “buy” rating and set a $225.00 target price (up from $202.00) on shares of Lam Research Corporation in a research note on Wednesday, October 18th. Berenberg Bank reiterated a “buy” rating and set a $240.00 target price on shares of Lam Research Corporation in a research note on Thursday. Argus increased their target price on Lam Research Corporation from $196.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday. Finally, J P Morgan Chase & Co reiterated a “buy” rating and set a $230.00 target price on shares of Lam Research Corporation in a research note on Wednesday, October 18th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $209.32.
In other Lam Research Corporation news, COO Timothy Archer sold 15,638 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $175.65, for a total value of $2,746,814.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $190.00, for a total value of $142,500.00. The disclosure for this sale can be found here. Insiders sold 40,419 shares of company stock valued at $7,167,497 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Lam Research Corporation by 5.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after buying an additional 28,662 shares during the period. Main Street Research LLC boosted its position in shares of Lam Research Corporation by 3.6% during the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after buying an additional 3,367 shares during the period. Pacad Investment Ltd. boosted its position in shares of Lam Research Corporation by 252.5% during the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after buying an additional 26,052 shares during the period. Highland Capital Management LLC acquired a new position in shares of Lam Research Corporation during the second quarter worth about $578,000. Finally, Soros Fund Management LLC acquired a new position in shares of Lam Research Corporation during the first quarter worth about $71,978,000. 93.88% of the stock is owned by institutional investors.
Lam Research Corporation (NASDAQ:LRCX) opened at 205.34 on Monday. The stock has a market cap of $33.29 billion, a price-to-earnings ratio of 18.75 and a beta of 1.53. The stock has a 50 day moving average of $180.03 and a 200 day moving average of $158.44. Lam Research Corporation has a 1-year low of $93.69 and a 1-year high of $206.34.
The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.88%. Lam Research Corporation’s 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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