Zacks: Brokerages Expect Lam Research Co. (NASDAQ:LRCX) Will Announce Quarterly Sales of $4.25 Billion

Wall Street analysts forecast that Lam Research Co. (NASDAQ:LRCXGet Rating) will report $4.25 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Lam Research’s earnings, with the highest sales estimate coming in at $4.26 billion and the lowest estimate coming in at $4.23 billion. Lam Research reported sales of $3.85 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 10.4%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Lam Research will report full year sales of $17.23 billion for the current fiscal year, with estimates ranging from $17.07 billion to $17.38 billion. For the next year, analysts forecast that the business will post sales of $19.32 billion, with estimates ranging from $18.57 billion to $19.93 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Lam Research.

Lam Research (NASDAQ:LRCXGet Rating) last posted its earnings results on Wednesday, January 26th. The semiconductor company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.46 by $0.07. Lam Research had a net margin of 27.78% and a return on equity of 78.38%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the company posted $6.03 EPS. The company’s revenue for the quarter was up 22.3% on a year-over-year basis.

A number of equities analysts recently weighed in on LRCX shares. Barclays lowered their price objective on shares of Lam Research from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, January 27th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Thursday, March 24th. Berenberg Bank lifted their price target on shares of Lam Research from $790.00 to $840.00 in a research note on Tuesday, January 18th. Wells Fargo & Company lifted their price objective on shares of Lam Research from $575.00 to $660.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 21st. Finally, Zacks Investment Research lowered shares of Lam Research from a “buy” rating to a “hold” rating and set a $583.00 price objective on the stock. in a research note on Friday, January 28th. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $717.42.

In related news, EVP Richard A. Gottscho sold 537 shares of the business’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $560.50, for a total transaction of $300,988.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Scott Gerald Meikle sold 700 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $590.00, for a total transaction of $413,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,937 shares of company stock worth $1,092,843. 0.34% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in LRCX. Morgan Stanley lifted its holdings in shares of Lam Research by 40.5% in the second quarter. Morgan Stanley now owns 951,434 shares of the semiconductor company’s stock valued at $619,097,000 after purchasing an additional 274,306 shares in the last quarter. Keudell Morrison Wealth Management lifted its holdings in shares of Lam Research by 8.8% in the third quarter. Keudell Morrison Wealth Management now owns 1,850 shares of the semiconductor company’s stock valued at $1,053,000 after purchasing an additional 150 shares in the last quarter. Jag Capital Management LLC lifted its holdings in shares of Lam Research by 4.6% in the third quarter. Jag Capital Management LLC now owns 1,850 shares of the semiconductor company’s stock valued at $1,053,000 after purchasing an additional 82 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Lam Research by 35.0% in the third quarter. Dynamic Advisor Solutions LLC now owns 1,301 shares of the semiconductor company’s stock valued at $741,000 after purchasing an additional 337 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Lam Research by 5.1% in the third quarter. Signaturefd LLC now owns 2,006 shares of the semiconductor company’s stock valued at $1,142,000 after purchasing an additional 98 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

LRCX stock opened at $456.16 on Monday. The company has a market cap of $63.63 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.74 and a beta of 1.24. The company has a current ratio of 3.13, a quick ratio of 2.34 and a debt-to-equity ratio of 0.77. Lam Research has a 12 month low of $455.84 and a 12 month high of $731.85. The firm has a 50-day moving average of $533.02 and a two-hundred day moving average of $597.19.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 6th. Investors of record on Wednesday, March 16th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, March 15th. Lam Research’s dividend payout ratio is currently 18.69%.

Lam Research Company Profile (Get Rating)

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.

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