Lam Research (NASDAQ:LRCX) Releases Earnings Results, Beats Estimates By $0.12 EPS
by Renee Jackson · The Cerbat GemLam Research (NASDAQ:LRCX – Get Free Report) posted its earnings results on Wednesday. The semiconductor company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12, FiscalAI reports. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Lam Research had a return on equity of 62.81% and a net margin of 30.22%.
Lam Research Stock Performance
Shares of Lam Research stock traded up $7.01 on Wednesday, reaching $265.38. 6,888,687 shares of the stock were exchanged, compared to its average volume of 11,244,241. The company has a quick ratio of 1.61, a current ratio of 2.26 and a debt-to-equity ratio of 0.37. Lam Research has a twelve month low of $66.34 and a twelve month high of $273.50. The firm has a market capitalization of $331.40 billion, a price-to-earnings ratio of 54.38, a PEG ratio of 2.80 and a beta of 1.78. The business has a 50 day moving average price of $233.19 and a two-hundred day moving average price of $196.10.
Lam Research Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Lam Research’s payout ratio is 21.31%.
Insider Buying and Selling at Lam Research
In other Lam Research news, CFO Douglas R. Bettinger sold 50,057 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $224.03, for a total value of $11,214,269.71. Following the completion of the transaction, the chief financial officer directly owned 1,081,705 shares of the company’s stock, valued at approximately $242,334,371.15. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ava Harter sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $232.50, for a total value of $930,000.00. Following the completion of the transaction, the insider directly owned 54,705 shares of the company’s stock, valued at $12,718,912.50. The trade was a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 130,886 shares of company stock valued at $29,658,802. 0.31% of the stock is owned by company insiders.
Institutional Trading of Lam Research
A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Brighton Jones LLC increased its position in shares of Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after purchasing an additional 12,936 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Lam Research during the first quarter worth approximately $239,000. Gabelli Funds LLC purchased a new stake in shares of Lam Research during the second quarter worth approximately $253,000. NewEdge Advisors LLC increased its position in shares of Lam Research by 2.7% during the second quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company’s stock worth $9,785,000 after purchasing an additional 2,661 shares in the last quarter. Finally, Osterweis Capital Management Inc. increased its position in shares of Lam Research by 5,206.7% during the second quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 781 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
LRCX has been the subject of a number of analyst reports. HSBC raised their price target on Lam Research from $181.00 to $221.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Evercore set a $275.00 target price on Lam Research in a research report on Thursday, January 29th. Sanford C. Bernstein raised their price target on Lam Research from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Stifel Nicolaus raised their price target on Lam Research from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $290.00 target price (up from $260.00) on shares of Lam Research in a research note on Thursday, January 29th. Twenty-seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.26.
View Our Latest Report on LRCX
About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.