Analysts Anticipate Lam Research Co. (LRCX) Will Post Quarterly Sales of $2.85 Billion

Equities analysts forecast that Lam Research Co. (NASDAQ:LRCX) will post $2.85 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Lam Research’s earnings, with the highest sales estimate coming in at $2.86 billion and the lowest estimate coming in at $2.85 billion. Lam Research reported sales of $2.15 billion during the same quarter last year, which would suggest a positive year over year growth rate of 32.6%. The business is expected to issue its next quarterly earnings results on Tuesday, April 17th.

On average, analysts expect that Lam Research will report full year sales of $2.85 billion for the current fiscal year, with estimates ranging from $10.66 billion to $11.00 billion. For the next year, analysts anticipate that the business will report sales of $11.53 billion per share, with estimates ranging from $10.98 billion to $12.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Lam Research.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, beating the consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $2.24 earnings per share. Lam Research’s revenue for the quarter was up 37.1% on a year-over-year basis.

LRCX has been the topic of a number of analyst reports. JPMorgan Chase & Co. reissued a “buy” rating and set a $230.00 target price on shares of Lam Research in a report on Wednesday, October 18th. Needham & Company LLC reissued a “buy” rating and set a $220.00 target price (up previously from $200.00) on shares of Lam Research in a report on Friday, October 13th. DA Davidson reissued a “buy” rating and set a $215.00 target price on shares of Lam Research in a report on Thursday, October 12th. KeyCorp reissued a “buy” rating and set a $225.00 target price (up previously from $202.00) on shares of Lam Research in a report on Wednesday, October 18th. Finally, Stifel Nicolaus boosted their target price on shares of Lam Research from $215.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $232.41.

In other news, insider Seshasayee Varadarajan sold 25,453 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,722 shares of company stock worth $12,088,028. Insiders own 0.41% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in LRCX. Krilogy Financial LLC grew its position in Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 263 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 392 shares in the last quarter. Bollard Group LLC purchased a new position in Lam Research in the third quarter worth $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Lam Research in the third quarter worth $134,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Lam Research in the third quarter worth $185,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lam Research (NASDAQ:LRCX) opened at $178.34 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. Lam Research has a 1-year low of $113.20 and a 1-year high of $219.70. The stock has a market cap of $28,880.00, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 0.72 and a beta of 1.47.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th were issued a $0.50 dividend. The ex-dividend date was Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. This is a boost from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio is presently 22.03%.

Lam Research declared that its board has authorized a stock repurchase program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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About Lam Research

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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Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

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