Lam Research (NASDAQ:LRCX) Announces Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Lam Research (NASDAQ:LRCX) issued its earnings results on Wednesday. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53, Briefing.com reports. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm posted $6.99 EPS. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. Lam Research updated its Q4 guidance to $6.75-$8.25 EPS and its Q4 2024 guidance to 6.750-8.250 EPS.

Lam Research Price Performance

LRCX traded up $14.80 on Friday, reaching $916.27. The company had a trading volume of 73,012 shares, compared to its average volume of 1,059,003. The company has a fifty day moving average of $943.68 and a 200-day moving average of $807.04. The company has a market capitalization of $120.12 billion, a P/E ratio of 33.15, a PEG ratio of 3.20 and a beta of 1.51. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research has a one year low of $493.42 and a one year high of $1,007.39.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.87%. Lam Research’s dividend payout ratio is currently 29.42%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Mizuho increased their price target on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group raised their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays lifted their price objective on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

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.