Lam Research (NASDAQ:LRCX) Announces Earnings Results, Beats Estimates By $0.53 EPS

Lam Research (NASDAQ:LRCX) announced its earnings results on Wednesday. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53, Briefing.com reports. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $6.99 earnings per share. Lam Research’s revenue was down 2.0% compared to the same quarter last year. Lam Research updated its Q4 guidance to $6.75-$8.25 EPS and its Q4 2024 guidance to 6.750-8.250 EPS.

Lam Research Trading Up 2.7 %

NASDAQ:LRCX traded up $23.90 on Friday, hitting $925.37. 1,397,129 shares of the stock were exchanged, compared to its average volume of 1,010,097. The stock has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a P/E/G 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. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. The company’s 50-day moving average price is $943.67 and its 200 day moving average price is $809.10.

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LRCX. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,100.00 target price on shares of Lam Research in a research report on Thursday. Barclays boosted their price target on shares of Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI started coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a report on Friday. Finally, Raymond James boosted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $950.85.

Insiders Place Their Bets

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

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.