FY2024 EPS Estimates for Lam Research Co. (NASDAQ:LRCX) Raised by Cantor Fitzgerald

Lam Research Co. (NASDAQ:LRCX) – Cantor Fitzgerald lifted their FY2024 earnings estimates for Lam Research in a research report issued on Thursday, April 25th. Cantor Fitzgerald analyst C. Muse now anticipates that the semiconductor company will post earnings of $29.66 per share for the year, up from their previous forecast of $28.97. Cantor Fitzgerald has a “Neutral” rating and a $1,100.00 price objective on the stock. The consensus estimate for Lam Research’s current full-year earnings is $28.96 per share.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business earned $6.99 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price for the company. TD Cowen raised their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Raymond James increased their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Barclays raised 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Up 0.7 %

LRCX stock opened at $908.00 on Friday. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39. The firm has a fifty day moving average price of $943.68 and a two-hundred day moving average price of $807.04. 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 market cap of $119.04 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 3.20 and a beta of 1.51.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Arlington Trust Co LLC increased its stake in shares of Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13 shares during the period. Capital Performance Advisors LLP grew its holdings in Lam Research by 2.2% in the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 13 shares during the last quarter. Van Leeuwen & Company LLC increased its position in Lam Research by 0.5% in the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after buying an additional 13 shares during the period. Busey Bank lifted its holdings in shares of Lam Research by 1.5% during the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after buying an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network boosted its position in shares of Lam Research by 2.5% in the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after acquiring an additional 13 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were 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 in the company, valued at approximately $5,386,018.23. 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 corporate insiders.

Lam Research Announces Dividend

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 dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.88%. Lam Research’s payout ratio is presently 29.42%.

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.