Lam Research (NASDAQ:LRCX) Updates Q4 Earnings Guidance


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Lam Research (NASDAQ:LRCX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $7.00 to $8.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.73. The company issued revenue guidance of $3.75 billion to $4.25 billion, compared to the consensus revenue estimate of $3.71 billion.

Shares of LRCX stock traded up $28.22 on Wednesday, reaching $641.25. 1,974,732 shares of the company’s stock traded hands, compared to its average volume of 1,684,933. Lam Research has a 12-month low of $229.69 and a 12-month high of $669.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.68 and a current ratio of 3.31. The company has a market capitalization of $91.64 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.33. The business’s 50 day moving average price is $588.08 and its two-hundred day moving average price is $500.36.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 21st. The semiconductor company reported $7.49 earnings per share for the quarter, beating analysts’ consensus estimates of $6.56 by $0.93. Lam Research had a return on equity of 55.82% and a net margin of 23.60%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. Lam Research’s revenue for the quarter was up 53.7% compared to the same quarter last year. Research analysts predict that Lam Research will post 22.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 17th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.81%. Lam Research’s dividend payout ratio is 32.60%.

A number of analysts recently issued reports on LRCX shares. Zacks Investment Research raised Lam Research from a hold rating to a buy rating and set a $508.00 price objective for the company in a research report on Tuesday, February 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on Lam Research from $660.00 to $750.00 and gave the company a buy rating in a research report on Monday. Morgan Stanley lifted their price objective on Lam Research from $553.00 to $568.00 and gave the company an overweight rating in a research report on Thursday, January 28th. Credit Suisse Group lifted their price objective on Lam Research from $650.00 to $750.00 and gave the company an outperform rating in a research report on Friday, April 16th. Finally, Stifel Nicolaus lifted their price objective on Lam Research from $550.00 to $620.00 in a research report on Thursday, January 28th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $564.20.

In related news, CEO Timothy Archer sold 4,464 shares of the company’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $515.00, for a total value of $2,298,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Lord sold 4,166 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $576.56, for a total transaction of $2,401,948.96. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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 products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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

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