Lam Research (NASDAQ:LRCX) Releases Q4 Earnings Guidance

Lam Research (NASDAQ:LRCXGet Rating) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.50-8.00 for the period, compared to the Thomson Reuters consensus estimate of $8.23. The company issued revenue guidance of $3.90-4.50 billion, compared to the consensus revenue estimate of $4.45 billion.Lam Research also updated its Q4 2022 guidance to $6.500-$8.000 EPS.

A number of research firms have recently issued reports on LRCX. Evercore ISI cut their price objective on Lam Research from $855.00 to $800.00 and set an outperform rating for the company in a report on Thursday, January 27th. Susquehanna dropped their price objective on Lam Research from $655.00 to $640.00 and set a neutral rating for the company in a report on Thursday, January 27th. Bank of America raised their price objective on Lam Research from $675.00 to $785.00 and gave the company a buy rating in a research report on Monday, January 10th. KeyCorp assumed coverage on Lam Research in a research report on Tuesday, January 25th. They set a sector weight rating for the company. Finally, Susquehanna Bancshares reduced their target price on Lam Research from $655.00 to $640.00 and set a neutral rating for the company in a report on Thursday, January 27th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $703.77.

NASDAQ:LRCX traded up $2.26 on Wednesday, reaching $481.45. 2,020,142 shares of the company’s stock traded hands, compared to its average volume of 1,490,246. Lam Research has a 12 month low of $451.00 and a 12 month high of $731.85. The company has a quick ratio of 2.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.77. The stock has a 50-day simple moving average of $526.07 and a 200-day simple moving average of $594.88. The firm has a market cap of $67.16 billion, a PE ratio of 15.00, a P/E/G ratio of 0.74 and a beta of 1.24.

Lam Research (NASDAQ:LRCXGet Rating) last issued its earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $7.52 by ($0.12). Lam Research had a return on equity of 78.38% and a net margin of 27.78%. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm posted $7.49 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research will post 32.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 6th. Shareholders of record on Wednesday, March 16th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $6.00 annualized dividend and a yield of 1.25%. Lam Research’s payout ratio is currently 18.69%.

In related news, SVP Scott Gerald Meikle sold 700 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $541.22, for a total value of $378,854.00. Following the completion of the sale, the senior vice president now owns 20,425 shares in the company, valued at $11,054,418.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard A. Gottscho sold 537 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $560.50, for a total value of $300,988.50. The disclosure for this sale can be found here. Insiders have sold 1,937 shares of company stock valued at $1,092,843 in the last 90 days. Company insiders own 0.31% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LRCX. Morgan Stanley lifted its holdings in Lam Research by 40.5% during the second quarter. Morgan Stanley now owns 951,434 shares of the semiconductor company’s stock worth $619,097,000 after buying an additional 274,306 shares during the period. Keudell Morrison Wealth Management lifted its holdings in Lam Research by 8.8% during the third quarter. Keudell Morrison Wealth Management now owns 1,850 shares of the semiconductor company’s stock worth $1,053,000 after buying an additional 150 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in Lam Research by 15.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 652 shares of the semiconductor company’s stock worth $469,000 after buying an additional 86 shares during the period. HB Wealth Management LLC acquired a new position in shares of Lam Research during the fourth quarter worth $228,000. Finally, Chicago Partners Investment Group LLC increased its position in shares of Lam Research by 1.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 914 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

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.

Further Reading

Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

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