Lam Research Co. (NASDAQ:LRCX) Expected to Earn Q3 2024 Earnings of $7.08 Per Share

Lam Research Co. (NASDAQ:LRCX) – Equities research analysts at Zacks Research lifted their Q3 2024 EPS estimates for Lam Research in a report released on Thursday, April 18th. Zacks Research analyst R. Department now anticipates that the semiconductor company will earn $7.08 per share for the quarter, up from their prior estimate of $6.96. The consensus estimate for Lam Research’s current full-year earnings is $28.90 per share. Zacks Research also issued estimates for Lam Research’s Q4 2024 earnings at $7.04 EPS, FY2024 earnings at $28.50 EPS, Q1 2025 earnings at $7.97 EPS, Q2 2025 earnings at $8.72 EPS, Q3 2025 earnings at $8.33 EPS, Q4 2025 earnings at $8.49 EPS, FY2025 earnings at $33.52 EPS, Q3 2026 earnings at $9.59 EPS and FY2026 earnings at $38.82 EPS.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI assumed coverage on shares of Lam Research in a report on Tuesday. They issued an “outperform” rating and a $1,200.00 target price on the stock. Susquehanna upped their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Needham & Company LLC upped their target price on shares of Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $899.64.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $888.92 on Friday. The firm’s 50-day moving average price is $946.27 and its 200-day moving average price is $798.17. Lam Research has a 1-year low of $482.74 and a 1-year high of $1,007.39. The firm has a market capitalization of $116.54 billion, a P/E ratio of 34.37, a P/E/G ratio of 3.30 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 (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the firm posted $10.71 earnings per share. The business’s quarterly revenue was down 28.8% compared to the same quarter last year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Whale Capital LLP lifted its stake in Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after purchasing an additional 800 shares in the last quarter. Everence Capital Management Inc. lifted its stake in Lam Research by 54.7% in the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after purchasing an additional 1,440 shares in the last quarter. Gradient Investments LLC lifted its stake in Lam Research by 32,411.1% in the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Lam Research in the 4th quarter worth approximately $7,930,000. Finally, Treasurer of the State of North Carolina raised its position in shares of Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after buying an additional 560 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.