B. Riley Weighs in on Lam Research Co.’s FY2022 Earnings (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCXGet Rating) – Investment analysts at B. Riley dropped their FY2022 EPS estimates for shares of Lam Research in a report released on Thursday, April 21st. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings of $31.54 per share for the year, down from their prior estimate of $32.10. B. Riley has a “Buy” rating and a $625.00 price objective on the stock. B. Riley also issued estimates for Lam Research’s Q4 2022 earnings at $7.25 EPS, Q1 2023 earnings at $8.26 EPS, Q3 2023 earnings at $9.10 EPS, Q4 2023 earnings at $9.27 EPS, FY2023 earnings at $35.91 EPS, Q1 2024 earnings at $9.65 EPS, Q2 2024 earnings at $10.12 EPS, Q3 2024 earnings at $10.09 EPS and FY2024 earnings at $40.24 EPS.

Lam Research (NASDAQ:LRCXGet Rating) last announced 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 $7.51 by ($0.11). The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.24 billion. Lam Research had a net margin of 27.78% and a return on equity of 78.38%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $7.49 EPS.

LRCX has been the topic of several other reports. Susquehanna decreased their price target on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a research note on Thursday, January 27th. Barclays decreased their price target on shares of Lam Research from $700.00 to $625.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Lam Research from $610.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Monday. Morgan Stanley decreased their price target on shares of Lam Research from $730.00 to $625.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, DA Davidson reduced their target price on shares of Lam Research from $725.00 to $575.00 in a research note on Thursday. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $684.38.

NASDAQ:LRCX opened at $469.51 on Friday. The company’s 50-day moving average price is $524.26 and its 200-day moving average price is $594.32. The company has a current ratio of 3.13, a quick ratio of 2.34 and a debt-to-equity ratio of 0.77. The company has a market cap of $65.50 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.74 and a beta of 1.24. Lam Research has a twelve month low of $451.00 and a twelve month high of $731.85.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 6th. Shareholders of record on Wednesday, March 16th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Tuesday, March 15th. Lam Research’s dividend payout ratio is presently 18.69%.

In other Lam Research news, EVP Richard A. Gottscho sold 537 shares of Lam Research 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott Gerald Meikle sold 700 shares of Lam Research stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $541.22, for a total transaction of $378,854.00. Following the completion of the transaction, the senior vice president now owns 20,425 shares of the company’s stock, valued at approximately $11,054,418.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,937 shares of company stock valued at $1,092,843. Company insiders own 0.31% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC acquired a new position in shares of Lam Research in the first quarter valued at approximately $66,000. 180 Wealth Advisors LLC grew its holdings in shares of Lam Research by 2.9% in the first quarter. 180 Wealth Advisors LLC now owns 2,517 shares of the semiconductor company’s stock valued at $1,206,000 after purchasing an additional 71 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Lam Research by 11.5% in the first quarter. Empirical Finance LLC now owns 2,747 shares of the semiconductor company’s stock valued at $1,477,000 after purchasing an additional 283 shares in the last quarter. Gyroscope Capital Management Group LLC grew its holdings in shares of Lam Research by 6.6% in the first quarter. Gyroscope Capital Management Group LLC now owns 2,546 shares of the semiconductor company’s stock valued at $1,369,000 after purchasing an additional 158 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of Lam Research in the first quarter valued at approximately $26,118,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

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

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