Lam Research Co. to Post FY2022 Earnings of $31.56 Per Share, Jefferies Financial Group Forecasts (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCXGet Rating) – Equities research analysts at Jefferies Financial Group reduced their FY2022 earnings per share estimates for shares of Lam Research in a research report issued on Thursday, April 21st. Jefferies Financial Group analyst M. Lipacis now anticipates that the semiconductor company will post earnings per share of $31.56 for the year, down from their prior estimate of $32.35. Jefferies Financial Group also issued estimates for Lam Research’s Q1 2023 earnings at $8.52 EPS, Q3 2023 earnings at $9.44 EPS, FY2023 earnings at $37.84 EPS and FY2024 earnings at $39.23 EPS.

Lam Research (NASDAQ:LRCXGet Rating) last posted 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 business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.24 billion. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $7.49 earnings per share.

LRCX has been the topic of several other reports. Susquehanna cut their price objective on Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a research report on Thursday, January 27th. DA Davidson cut their price objective on Lam Research from $725.00 to $575.00 in a research report on Thursday. Evercore ISI cut their price objective on Lam Research from $855.00 to $800.00 and set an “outperform” rating on the stock in a research report on Thursday, January 27th. Mizuho cut their price objective on Lam Research from $725.00 to $675.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Morgan Stanley cut their price objective on Lam Research from $730.00 to $625.00 and set an “overweight” rating on the stock in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $670.90.

Lam Research stock opened at $463.13 on Monday. The stock’s 50 day simple moving average is $522.36 and its two-hundred day simple moving average is $594.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.34 and a current ratio of 2.83. The stock has a market cap of $64.61 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.81 and a beta of 1.24. Lam Research has a fifty-two week low of $451.00 and a fifty-two week high of $731.85.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 6th. Investors of record on Wednesday, March 16th were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $6.00 dividend on an annualized basis and a yield of 1.30%. Lam Research’s payout ratio is currently 18.76%.

In other Lam Research news, EVP Richard A. Gottscho sold 537 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott Gerald Meikle sold 700 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 20,425 shares of the company’s stock, valued at $11,054,418.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,937 shares of company stock valued at $1,092,843. 0.34% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of LRCX. Morgan Stanley grew its position in shares of Lam Research by 40.5% during the 2nd quarter. Morgan Stanley now owns 951,434 shares of the semiconductor company’s stock valued at $619,097,000 after acquiring an additional 274,306 shares during the period. Keudell Morrison Wealth Management boosted its holdings in Lam Research by 8.8% in the 3rd 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. Allworth Financial LP boosted its holdings in Lam Research by 16.9% in the 3rd quarter. Allworth Financial LP now owns 297 shares of the semiconductor company’s stock worth $169,000 after buying an additional 43 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Lam Research by 12.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 483 shares of the semiconductor company’s stock worth $275,000 after buying an additional 53 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Lam Research by 2.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 43,080 shares of the semiconductor company’s stock worth $24,522,000 after buying an additional 986 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

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

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