Lam Research (LRCX) Scheduled to Post Quarterly Earnings on Wednesday

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

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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 company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. 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 Performance

NASDAQ:LRCX opened at $946.17 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm has a 50-day moving average of $941.93 and a two-hundred day moving average of $794.36. The stock has a market cap of $124.04 billion, a P/E ratio of 36.59, a PEG ratio of 3.47 and a beta of 1.51. Lam Research has a 1-year low of $482.74 and a 1-year high of $1,007.39.

Lam Research Dividend Announcement

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

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. Needham & Company LLC upped their target price on shares of Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Susquehanna upped their target price on shares of Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Mizuho upped their target price on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. Finally, UBS Group increased 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 note on Tuesday, March 5th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $848.27.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’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 $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently made changes to their positions in LRCX. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $27,000. Quarry LP purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $33,000. First Manhattan CO. LLC. lifted its position in shares of Lam Research by 117.2% in the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 34 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Lam Research in the 1st quarter valued at approximately $36,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.