Lam Research (NASDAQ:LRCX) Issues Q4 Earnings Guidance

Lam Research (NASDAQ:LRCX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $6.75-$8.25 for the period, compared to the consensus EPS estimate of $7.30. The company issued revenue guidance of $3.5-$4.1 billion, compared to the consensus revenue estimate of $3.77 billion. Lam Research also updated its Q4 2024 guidance to 6.750-8.250 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LRCX. Mizuho upped their price objective on Lam Research from $935.00 to $960.00 and gave the company a buy rating in a report on Thursday. Raymond James upped their price objective on Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a report on Thursday, January 25th. Wells Fargo & Company upped their target price on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. The Goldman Sachs Group upped their target price on Lam Research from $700.00 to $912.00 and gave the company a buy rating in a report on Thursday, January 25th. Finally, Barclays upped their target price on Lam Research from $825.00 to $865.00 and gave the company an equal weight rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Stock Up 2.7 %

Shares of LRCX traded up $23.90 during midday trading on Friday, reaching $925.37. 1,397,129 shares of the stock were exchanged, compared to its average volume of 1,010,097. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The firm has a 50 day simple moving average of $943.67 and a 200-day simple moving average of $809.10. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The company has a market cap 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 (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $6.99 EPS. Research analysts forecast that Lam Research will post 29.46 EPS for the current year.

Lam Research Announces Dividend

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

Insider Activity at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 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 value of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was 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 directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 in the last 90 days. 0.32% of the stock is owned by corporate 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.