Analysts Anticipate Lam Research Co. (NASDAQ:LRCX) to Announce $3.01 Earnings Per Share

Wall Street brokerages predict that Lam Research Co. (NASDAQ:LRCX) will announce earnings per share (EPS) of $3.01 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Lam Research’s earnings, with estimates ranging from $2.99 to $3.10. Lam Research reported earnings per share of $3.36 during the same quarter last year, which would suggest a negative year over year growth rate of 10.4%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 15th.

According to Zacks, analysts expect that Lam Research will report full year earnings of $13.57 per share for the current financial year, with EPS estimates ranging from $12.95 to $15.09. For the next financial year, analysts forecast that the business will report earnings of $17.58 per share, with EPS estimates ranging from $15.99 to $20.73. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Lam Research.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.22. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the business posted $5.31 EPS. The business’s revenue for the quarter was down 24.5% on a year-over-year basis.

A number of research analysts have recently commented on the company. KeyCorp increased their price objective on Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Lam Research in a report on Monday, August 5th. Goldman Sachs Group downgraded Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Zacks Investment Research upgraded Lam Research from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, ValuEngine downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $224.69.

In related news, insider Kevin Jennings sold 1,122 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $210.07, for a total transaction of $235,698.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $210.00, for a total value of $837,270.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,109 shares of company stock worth $5,072,969 in the last 90 days. 0.44% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in LRCX. Nuveen Asset Management LLC lifted its position in Lam Research by 655.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,502,249 shares of the semiconductor company’s stock worth $470,022,000 after acquiring an additional 2,171,131 shares during the period. FMR LLC lifted its position in Lam Research by 13.7% during the 1st quarter. FMR LLC now owns 7,565,824 shares of the semiconductor company’s stock worth $1,354,358,000 after acquiring an additional 913,293 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in Lam Research by 563.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,043,217 shares of the semiconductor company’s stock worth $186,745,000 after acquiring an additional 885,862 shares during the period. Lansdowne Partners UK LLP acquired a new stake in Lam Research during the 2nd quarter worth approximately $148,977,000. Finally, Marshall Wace North America L.P. lifted its position in Lam Research by 249.2% during the 1st quarter. Marshall Wace North America L.P. now owns 582,106 shares of the semiconductor company’s stock worth $104,202,000 after acquiring an additional 415,418 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Shares of LRCX traded down $10.07 during mid-day trading on Friday, reaching $200.39. The company’s stock had a trading volume of 1,956,520 shares, compared to its average volume of 1,756,499. Lam Research has a 12-month low of $122.64 and a 12-month high of $218.49. The stock has a market cap of $30.06 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.61. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.61 and a quick ratio of 2.96. The company’s 50 day moving average is $199.56 and its 200 day moving average is $188.72.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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