FY2024 EPS Estimates for Lam Research Co. (NASDAQ:LRCX) Boosted by B. Riley

Lam Research Co. (NASDAQ:LRCX) – Stock analysts at B. Riley raised their FY2024 earnings estimates for shares of Lam Research in a research report issued to clients and investors on Wednesday, April 24th. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings of $29.65 per share for the year, up from their prior estimate of $28.90. B. Riley has a “Buy” rating and a $1,100.00 price objective on the stock. The consensus estimate for Lam Research’s current full-year earnings is $29.46 per share. B. Riley also issued estimates for Lam Research’s Q4 2024 earnings at $7.49 EPS, Q1 2025 earnings at $8.03 EPS, Q2 2025 earnings at $8.75 EPS, Q3 2025 earnings at $8.49 EPS, Q4 2025 earnings at $9.54 EPS, FY2025 earnings at $34.80 EPS, Q3 2026 earnings at $10.95 EPS and FY2026 earnings at $44.57 EPS.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective on the stock. Raymond James raised their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group raised their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho raised their target price on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $1,030.00 price target on shares of Lam Research in a research report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Stock Up 2.7 %

Shares of LRCX stock opened at $925.37 on Friday. The company’s fifty day simple moving average is $943.67 and its two-hundred day simple moving average is $810.33. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The stock has a market cap of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.99 EPS.

Institutional Investors Weigh In On Lam Research

A number of large investors have recently modified their holdings of LRCX. Blue Whale Capital LLP grew its position in shares of Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares during the last quarter. Everence Capital Management Inc. grew its position in shares of Lam Research by 54.7% in the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares during the last quarter. Gradient Investments LLC grew its position in shares of Lam Research by 32,411.1% in the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after buying an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Lam Research in the 4th quarter valued at $7,930,000. Finally, Treasurer of the State of North Carolina grew its position in shares of Lam Research by 0.9% in the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after buying an additional 560 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last ninety days. 0.32% of the stock is owned by insiders.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.86%. Lam Research’s payout ratio is 29.42%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.