Lam Research (LRCX) Scheduled to Post Earnings on Wednesday

Lam Research (NASDAQ:LRCX) will be issuing its quarterly earnings data after the market closes on Wednesday, April 17th. Analysts expect the company to announce earnings of $7.23 per share for the quarter. Lam Research has set its Q3 guidance at $6.50-8.00 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the company posted $10.71 EPS. On average, analysts expect Lam Research to post $29 EPS for the current fiscal year and $35 EPS for the next fiscal year.

Lam Research Stock Down 1.1 %

LRCX stock opened at $946.17 on Tuesday. Lam Research has a 52 week low of $482.74 and a 52 week high of $1,007.39. The business has a 50-day simple moving average of $941.93 and a 200 day simple moving average of $794.36. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The company has a market cap of $124.04 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 3.47 and a beta of 1.51.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Insider Activity

In related news, CAO Christina Corrreia sold 647 shares of the company’s 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 $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were 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 $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research 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 transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several hedge funds have recently modified their holdings of the company. Prudential Financial Inc. lifted its position in shares of Lam Research by 24.8% during the 1st quarter. Prudential Financial Inc. now owns 202,518 shares of the semiconductor company’s stock valued at $108,876,000 after buying an additional 40,208 shares during the last quarter. USS Investment Management Ltd lifted its stake in shares of Lam Research by 4.8% during the 1st quarter. USS Investment Management Ltd now owns 46,074 shares of the semiconductor company’s stock valued at $24,759,000 after buying an additional 2,113 shares in the last quarter. Bridgewater Associates LP bought a new stake in Lam Research during the 1st quarter valued at $18,157,000. Stevens Capital Management LP bought a new stake in shares of Lam Research during the 1st quarter valued at $1,019,000. Finally, Pearl River Capital LLC bought a new stake in shares of Lam Research during the first quarter valued at about $1,110,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company. Cantor Fitzgerald upped their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their target price on Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays raised their price target on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, UBS Group upped their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $871.00.

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.