KeyCorp Analysts Boost Earnings Estimates for Lam Research Co. (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCXGet Rating) – Research analysts at KeyCorp raised their Q1 2023 EPS estimates for Lam Research in a research note issued on Wednesday, July 27th. KeyCorp analyst S. Barger now anticipates that the semiconductor company will post earnings per share of $9.66 for the quarter, up from their previous estimate of $8.48. The consensus estimate for Lam Research’s current full-year earnings is $31.61 per share. KeyCorp also issued estimates for Lam Research’s Q2 2023 earnings at $9.35 EPS, Q3 2023 earnings at $8.72 EPS, Q4 2023 earnings at $8.42 EPS and FY2023 earnings at $36.14 EPS.

Lam Research (NASDAQ:LRCXGet Rating) last announced its earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, beating the consensus estimate of $7.30 by $1.53. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the business earned $8.09 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their price target on shares of Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group boosted their target price on Lam Research from $510.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley decreased their price target on Lam Research from $625.00 to $550.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Lam Research from $560.00 to $480.00 in a research note on Monday, July 18th. Finally, Barclays cut Lam Research from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $625.00 to $450.00 in a research note on Monday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $612.18.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $500.51 on Monday. The stock has a market cap of $69.43 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.18 and a beta of 1.31. The firm’s 50-day simple moving average is $455.56 and its 200 day simple moving average is $505.27. Lam Research has a fifty-two week low of $375.87 and a fifty-two week high of $731.85. The company has a quick ratio of 2.00, a current ratio of 2.83 and a debt-to-equity ratio of 0.83.

Hedge Funds Weigh In On Lam Research

A number of large investors have recently made changes to their positions in LRCX. Missouri Trust & Investment Co purchased a new stake in Lam Research in the 4th quarter worth approximately $25,000. Allegheny Financial Group LTD purchased a new stake in shares of Lam Research during the fourth quarter worth $25,000. Vectors Research Management LLC boosted its position in Lam Research by 133.3% during the fourth quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 20 shares during the last quarter. Stonebridge Capital Advisors LLC grew its stake in Lam Research by 100.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 19 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC acquired a new position in Lam Research in the 1st quarter worth about $27,000. Institutional investors and hedge funds own 82.34% of the company’s stock.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $6.00 annualized dividend and a yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is presently 18.76%.

Lam Research Company Profile

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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.

See Also

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

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