Lam Research Co. (LRCX) Expected to Post Earnings of $3.38 Per Share

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Equities research analysts expect that Lam Research Co. (NASDAQ:LRCX) will announce $3.38 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Lam Research’s earnings, with estimates ranging from $3.34 to $3.40. Lam Research reported earnings per share of $4.79 during the same quarter last year, which suggests a negative year over year growth rate of 29.4%. The company is scheduled to report its next earnings results on Tuesday, April 16th.

According to Zacks, analysts expect that Lam Research will report full year earnings of $13.89 per share for the current year, with EPS estimates ranging from $13.64 to $14.47. For the next year, analysts expect that the firm will post earnings of $14.70 per share, with EPS estimates ranging from $13.00 to $16.88. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Lam Research.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.67 by $0.20. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. Lam Research had a return on equity of 48.08% and a net margin of 26.69%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.34 EPS.

LRCX has been the topic of several research analyst reports. ValuEngine raised Lam Research from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 28th. Needham & Company LLC initiated coverage on Lam Research in a research report on Friday, December 21st. They issued a “buy” rating and a $180.00 price objective on the stock. Zacks Investment Research downgraded Lam Research from a “hold” rating to a “sell” rating in a research report on Friday, January 11th. Credit Suisse Group reaffirmed a “buy” rating and issued a $278.00 price objective on shares of Lam Research in a research report on Monday, January 21st. Finally, Cowen reaffirmed an “outperform” rating and issued a $185.00 price objective (down previously from $210.00) on shares of Lam Research in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $218.68.

In related news, Director Christine Heckart sold 2,050 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $172.98, for a total transaction of $354,609.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Jennings sold 1,553 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $177.67, for a total value of $275,921.51. The disclosure for this sale can be found here. Insiders have sold a total of 12,311 shares of company stock valued at $2,179,378 over the last 90 days. 0.44% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. We Are One Seven LLC acquired a new stake in Lam Research during the fourth quarter worth about $26,000. Berman Capital Advisors LLC acquired a new stake in Lam Research during the fourth quarter worth about $26,000. Duncker Streett & Co. Inc. grew its holdings in Lam Research by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 100 shares during the period. FTB Advisors Inc. grew its holdings in Lam Research by 72.0% during the fourth quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 90 shares during the period. Finally, Csenge Advisory Group acquired a new stake in Lam Research during the third quarter worth about $35,000. Institutional investors own 88.11% of the company’s stock.

Shares of NASDAQ LRCX traded up $7.70 during trading hours on Friday, hitting $184.23. 3,559,402 shares of the company traded hands, compared to its average volume of 2,706,500. The company has a market cap of $26.94 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.03 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.61 and a current ratio of 3.39. Lam Research has a 12 month low of $122.64 and a 12 month high of $227.82.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, March 19th. Lam Research’s dividend payout ratio (DPR) is currently 24.62%.

Lam Research announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 23rd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 23% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Lam Research

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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