Lam Research (NASDAQ:LRCX) Issues Earnings Results, Beats Expectations By $0.53 EPS

Lam Research (NASDAQ:LRCX) announced its quarterly earnings results on Wednesday. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53, Briefing.com reports. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.99 EPS. 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 Up 1.6 %

Shares of LRCX stock traded up $13.82 during trading hours on Thursday, hitting $898.71. 342,260 shares of the company’s stock traded hands, compared to its average volume of 1,058,873. The stock’s fifty day simple moving average is $943.93 and its two-hundred day simple moving average is $806.38. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The stock has a market cap of $117.82 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 3.21 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on LRCX shares. Mizuho upped their price objective on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Susquehanna lowered their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup raised their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus increased their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $932.85.

Insider Activity at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Christina Corrreia sold 647 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 $628,903.41. Following 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 SEC, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

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.