Lam Research (NASDAQ:LRCX) Issues Q4 2024 Earnings Guidance

Lam Research (NASDAQ:LRCX) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 6.750-8.250 for the period, compared to the consensus EPS estimate of 7.330. The company issued revenue guidance of $3.5 billion-$4.1 billion, compared to the consensus revenue estimate of $3.8 billion. Lam Research also updated its Q4 guidance to $6.75-$8.25 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LRCX. Citigroup upped their price target on shares of Lam Research from $800.00 to $975.00 and gave the company a buy rating in a report on Thursday, January 25th. B. Riley raised shares of Lam Research from a neutral rating to a buy rating and upped their price target for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. Raymond James upped 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. Barclays upped their price target on shares of Lam Research from $750.00 to $825.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Finally, TD Cowen increased their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $931.85.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $2.53 during trading hours on Wednesday, hitting $884.89. 1,946,455 shares of the company’s stock traded hands, compared to its average volume of 1,068,471. 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 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company’s fifty day simple moving average is $944.54 and its two-hundred day simple moving average is $805.82. The company has a market cap of $116.01 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the company posted $10.71 earnings per share. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research will post 28.92 EPS for the current fiscal year.

Lam Research Announces Dividend

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. This represents a $8.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Lam Research Company Profile

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.