Lam Research (NASDAQ:LRCX) Announces Earnings Results

Lam Research (NASDAQ:LRCX) posted its earnings results on Wednesday. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53, Briefing.com reports. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the company posted $6.99 earnings per share. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. 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 Stock Performance

Shares of LRCX stock traded up $10.07 during trading hours on Thursday, hitting $894.96. The stock had a trading volume of 373,716 shares, compared to its average volume of 1,059,362. The firm has a market capitalization of $117.33 billion, a PE ratio of 34.83, a PEG ratio of 3.21 and a beta of 1.51. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39. The stock’s 50 day moving average is $943.93 and its 200 day moving average is $806.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is currently 30.94%.

Analyst Ratings Changes

A number of brokerages have issued reports on LRCX. TD Cowen boosted their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays boosted their price target on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. The Goldman Sachs Group boosted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Citigroup boosted their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Susquehanna cut their price target on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $932.85.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,029 shares of company stock valued at $6,559,489. 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.