$2.72 Billion in Sales Expected for Lam Research Co. (NASDAQ:LRCX) This Quarter

Brokerages expect Lam Research Co. (NASDAQ:LRCX) to report sales of $2.72 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Lam Research’s earnings, with the highest sales estimate coming in at $2.83 billion and the lowest estimate coming in at $2.58 billion. Lam Research reported sales of $2.36 billion in the same quarter last year, which suggests a positive year over year growth rate of 15.3%. The firm is scheduled to report its next quarterly earnings report on Wednesday, July 29th.

On average, analysts expect that Lam Research will report full-year sales of $10.01 billion for the current year, with estimates ranging from $9.83 billion to $10.20 billion. For the next fiscal year, analysts forecast that the business will post sales of $11.02 billion, with estimates ranging from $9.90 billion to $11.82 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Lam Research.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 22nd. The semiconductor company reported $3.98 EPS for the quarter, meeting the consensus estimate of $3.98. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.51 billion. Lam Research had a return on equity of 47.79% and a net margin of 21.81%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $3.70 earnings per share.

Several equities analysts have commented on LRCX shares. UBS Group upgraded Lam Research from a “sell” rating to a “buy” rating and increased their target price for the company from $250.00 to $290.00 in a research report on Friday, March 27th. Mizuho raised their price objective on Lam Research from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Zacks Investment Research upgraded Lam Research from a “sell” rating to a “hold” rating and set a $277.00 price objective for the company in a research report on Friday, April 24th. Nomura Securities upgraded Lam Research from a “neutral” rating to a “buy” rating and set a $265.00 price objective for the company in a research report on Thursday, April 2nd. Finally, Morgan Stanley lowered their price objective on Lam Research from $254.00 to $253.00 and set an “equal weight” rating for the company in a research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $305.08.

Lam Research stock traded up $9.75 during trading hours on Wednesday, hitting $276.11. The stock had a trading volume of 2,457,666 shares, compared to its average volume of 2,282,310. The company has a quick ratio of 3.67, a current ratio of 4.47 and a debt-to-equity ratio of 1.11. The stock has a market cap of $38.47 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.32 and a beta of 1.34. Lam Research has a one year low of $171.04 and a one year high of $344.32. The business’s 50 day simple moving average is $259.94 and its 200-day simple moving average is $277.23.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be paid a $1.15 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $4.60 dividend on an annualized basis and a yield of 1.67%. Lam Research’s dividend payout ratio (DPR) is presently 31.62%.

In other Lam Research news, CEO Timothy Archer sold 28,910 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $270.00, for a total value of $7,805,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.43% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Lloyd Advisory Services LLC. bought a new position in Lam Research during the 4th quarter valued at approximately $52,000. PNC Financial Services Group Inc. boosted its stake in shares of Lam Research by 96.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 406,358 shares of the semiconductor company’s stock worth $97,525,000 after buying an additional 199,127 shares during the last quarter. BancorpSouth Bank raised its holdings in Lam Research by 4.0% in the 4th quarter. BancorpSouth Bank now owns 4,328 shares of the semiconductor company’s stock worth $1,265,000 after purchasing an additional 167 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Lam Research by 11.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 60,747 shares of the semiconductor company’s stock worth $14,579,000 after purchasing an additional 6,054 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lam Research by 5.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,813 shares of the semiconductor company’s stock worth $26,846,000 after purchasing an additional 4,666 shares during the period. 85.10% of the stock is owned by hedge funds and other institutional investors.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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