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

Lam Research (NASDAQ:LRCX) released its quarterly earnings results on Wednesday. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm earned $6.99 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. 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 Price Performance

Shares of NASDAQ LRCX traded up $23.90 during midday trading on Friday, hitting $925.37. The company had a trading volume of 1,397,129 shares, compared to its average volume of 1,010,097. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39. The business has a 50-day simple moving average of $943.67 and a two-hundred day simple moving average of $809.10. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51.

Lam Research Dividend Announcement

The business also recently disclosed 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 dividend yield of 0.86%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Insider Activity at Lam Research

In related news, CAO Christina Corrreia sold 647 shares of the firm’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 $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research note on Thursday. Barclays increased their price target on shares of Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a research note on Thursday. Evercore ISI began coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target for the company. Finally, TD Cowen increased their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

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.