Brokerages Expect Lam Research Co. (LRCX) Will Announce Quarterly Sales of $2.85 Billion

Equities research analysts expect Lam Research Co. (NASDAQ:LRCX) to announce sales of $2.85 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Lam Research’s earnings. The highest sales estimate is $2.86 billion and the lowest is $2.85 billion. Lam Research posted sales of $2.15 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.6%. The business is expected to report its next quarterly earnings report 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 fiscal year, analysts anticipate that the company will post sales of $11.53 billion per share, with estimates ranging from $10.98 billion to $12.28 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Lam Research.

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

LRCX has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective (up from $200.00) on shares of Lam Research in a research note on Friday, October 13th. Zacks Investment Research raised Lam Research from a “sell” rating to a “hold” rating and set a $221.00 price target on the stock in a research report on Friday, October 13th. Vetr downgraded Lam Research from a “buy” rating to a “hold” rating and set a $196.77 target price on the stock. in a research note on Monday, October 16th. B. Riley lifted their target price on Lam Research from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, DA Davidson reiterated a “buy” rating on shares of Lam Research in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $232.41.

Shares of Lam Research (NASDAQ LRCX) traded up $3.64 during trading hours on Wednesday, reaching $165.87. The company’s stock had a trading volume of 5,940,000 shares, compared to its average volume of 3,680,000. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. The firm has a market capitalization of $27,460.00, a P/E ratio of 18.27, a PEG ratio of 0.65 and a beta of 1.47. Lam Research has a one year low of $113.20 and a one year high of $219.70.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s dividend payout ratio (DPR) is 22.03%.

In other news, insider Martin B. Anstice sold 21,955 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Seshasayee Varadarajan sold 25,453 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,722 shares of company stock valued at $12,088,028. Insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LRCX. Numeric Investors LLC acquired a new position in shares of Lam Research in the second quarter worth $410,000. First Allied Advisory Services Inc. grew its position in shares of Lam Research by 6.5% in the second quarter. First Allied Advisory Services Inc. now owns 1,940 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 118 shares during the period. Prudential PLC grew its position in shares of Lam Research by 14.3% in the second quarter. Prudential PLC now owns 3,200 shares of the semiconductor company’s stock valued at $453,000 after purchasing an additional 400 shares during the period. Sciencast Management LP purchased a new stake in shares of Lam Research in the second quarter valued at $246,000. Finally, 361 Capital LLC grew its position in shares of Lam Research by 55.6% in the second quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock valued at $4,329,000 after purchasing an additional 10,938 shares during the period. 92.92% of the stock is owned by institutional investors.

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Lam Research Company Profile

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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