Lam Research (NASDAQ:LRCX) Releases 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 (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53, Briefing.com reports. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period 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 Stock Performance

NASDAQ LRCX traded up $14.80 during trading on Friday, hitting $916.27. The company’s stock had a trading volume of 73,012 shares, compared to its average volume of 1,059,003. The firm has a market cap of $120.12 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The firm has a 50 day moving average price of $943.68 and a 200 day moving average price of $807.04.

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 issued a dividend of $2.00 per share. The ex-dividend date 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 29.42%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LRCX. Barclays raised their price target on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday. TD Cowen boosted their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho upped their target price on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and set a $1,100.00 price target on shares of Lam Research in a research report on Thursday. Finally, Wells Fargo & Company increased their price target 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Insider Activity at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at approximately $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 owned by corporate insiders.

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.