Lam Research (LRCX) to Release Quarterly Earnings on Wednesday

22 Oct 2024, 07:10 by Danessa Lincoln · The Markets Daily

Lam Research (NASDAQ:LRCX – Get Free Report) is set to announce its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $8.00 per share for the quarter. Lam Research has set its Q1 guidance at $7.25-8.75 EPS and its Q1 2025 guidance at 7.250-8.750 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. On average, analysts expect Lam Research to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $72.84 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $79.99 and its 200 day moving average price is $90.26. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00. The firm has a market cap of $9.52 billion, a P/E ratio of 2.68, a P/E/G ratio of 1.75 and a beta of 1.47.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 3.38%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

LRCX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Mizuho dropped their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. TD Cowen increased their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup dropped their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $141.28.

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