Lam Research Co. Expected to Post FY2024 Earnings of $29.65 Per Share (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) – Equities research analysts at B. Riley increased their FY2024 earnings per share (EPS) estimates for Lam Research in a research note issued on Wednesday, April 24th. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings of $29.65 per share for the year, up from their previous estimate of $28.90. B. Riley has a “Buy” rating and a $1,100.00 price objective on the stock. The consensus estimate for Lam Research’s current full-year earnings is $28.96 per share. B. Riley also issued estimates for Lam Research’s Q4 2024 earnings at $7.49 EPS, Q1 2025 earnings at $8.03 EPS, Q2 2025 earnings at $8.75 EPS, Q3 2025 earnings at $8.49 EPS, Q4 2025 earnings at $9.54 EPS, FY2025 earnings at $34.80 EPS, Q3 2026 earnings at $10.95 EPS and FY2026 earnings at $44.57 EPS.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.99 earnings per share.

Other analysts have also issued research reports about the company. Wells Fargo & Company upped their price objective on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target on the stock. Mizuho upped their target price on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus raised their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Barclays raised their target price on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Price Performance

NASDAQ:LRCX opened at $908.00 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The stock’s 50-day simple moving average is $943.68 and its 200 day simple moving average is $807.04. The company has a market cap of $119.04 billion, a P/E ratio of 33.15, a P/E/G ratio of 3.20 and a beta of 1.51. Lam Research has a 52-week low of $493.42 and a 52-week high of $1,007.39.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in Lam Research by 28.8% in the third quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company’s stock worth $1,541,000 after purchasing an additional 549 shares during the last quarter. Strategic Blueprint LLC lifted its stake in Lam Research by 18.2% in the third quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 175 shares during the last quarter. Oak Thistle LLC lifted its stake in Lam Research by 14.5% in the third quarter. Oak Thistle LLC now owns 530 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 67 shares during the last quarter. Czech National Bank lifted its stake in Lam Research by 46.5% in the third quarter. Czech National Bank now owns 23,297 shares of the semiconductor company’s stock worth $14,602,000 after purchasing an additional 7,393 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Lam Research by 2.0% in the third quarter. Asset Management One Co. Ltd. now owns 62,610 shares of the semiconductor company’s stock worth $39,242,000 after purchasing an additional 1,217 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. Lam Research’s dividend payout ratio (DPR) is currently 29.42%.

Lam Research Company Profile

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.