Lam Research Co. (NASDAQ:LRCX – Free Report) – Equities researchers at B. Riley boosted their Q2 2024 EPS estimates for shares of Lam Research in a note issued to investors on Thursday, October 19th. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings of $7.00 per share for the quarter, up from their previous forecast of $6.45. B. Riley has a “Neutral” rating and a $700.00 price target on the stock. The consensus estimate for Lam Research’s current full-year earnings is $26.81 per share. B. Riley also issued estimates for Lam Research’s Q3 2024 earnings at $6.51 EPS, FY2024 earnings at $27.38 EPS, Q1 2025 earnings at $7.51 EPS, Q2 2025 earnings at $8.19 EPS, Q3 2025 earnings at $8.18 EPS, Q4 2025 earnings at $9.21 EPS and FY2025 earnings at $33.08 EPS.
Other research analysts have also issued reports about the stock. Needham & Company LLC raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $800.00 price objective for the company in a report on Friday, October 13th. Susquehanna raised their price objective on shares of Lam Research from $540.00 to $615.00 in a report on Thursday, July 27th. Wells Fargo & Company boosted their price objective on shares of Lam Research from $620.00 to $650.00 in a research report on Thursday, July 27th. StockNews.com began coverage on shares of Lam Research in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Barclays boosted their price objective on shares of Lam Research from $575.00 to $600.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $660.00.
Lam Research Price Performance
Shares of LRCX stock opened at $600.35 on Friday. The firm has a market cap of $79.38 billion, a P/E ratio of 20.41, a P/E/G ratio of 4.15 and a beta of 1.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.16 and a quick ratio of 2.01. Lam Research has a 1-year low of $354.97 and a 1-year high of $726.53. The firm has a fifty day moving average of $648.61 and a two-hundred day moving average of $613.79.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.70. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.42 billion. Lam Research had a net margin of 25.08% and a return on equity of 49.63%. The firm’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same period last year, the business earned $10.42 EPS.
Institutional Investors Weigh In On Lam Research
Several hedge funds have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Lam Research by 97,796.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 131,092,612 shares of the semiconductor company’s stock valued at $84,274,197,000 after acquiring an additional 130,958,702 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Lam Research by 117,180.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after acquiring an additional 32,794,236 shares in the last quarter. BlackRock Inc. lifted its position in shares of Lam Research by 3.6% in the 2nd quarter. BlackRock Inc. now owns 11,179,474 shares of the semiconductor company’s stock valued at $7,186,837,000 after acquiring an additional 389,374 shares in the last quarter. State Street Corp increased its stake in Lam Research by 1.7% in the 1st quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after buying an additional 92,606 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Lam Research by 12.7% in the 1st quarter. Ameriprise Financial Inc. now owns 5,615,253 shares of the semiconductor company’s stock worth $2,976,863,000 after buying an additional 632,690 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Insider Transactions at Lam Research
In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total transaction of $553,675.50. Following the completion of the sale, the director now directly owns 12,117 shares of the company’s stock, valued at $7,606,446.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total transaction of $553,675.50. Following the completion of the sale, the director now directly owns 12,117 shares of the company’s stock, valued at $7,606,446.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vahid Vahedi sold 13,756 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the sale, the senior vice president now directly owns 26,483 shares of the company’s stock, valued at $19,000,493.18. The disclosure for this sale can be found here. In the last three months, insiders sold 18,159 shares of company stock valued at $12,913,253. Company insiders own 0.32% of the company’s stock.
Lam Research Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Tuesday, September 12th. Lam Research’s dividend payout ratio is currently 27.20%.
About Lam Research
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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