$2.50 Billion in Sales Expected for Lam Research Co. (NASDAQ:LRCX) This Quarter

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Analysts expect Lam Research Co. (NASDAQ:LRCX) to post sales of $2.50 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Lam Research’s earnings, with estimates ranging from $2.50 billion to $2.51 billion. Lam Research reported sales of $2.52 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 22nd.

According to Zacks, analysts expect that Lam Research will report full-year sales of $9.89 billion for the current year, with estimates ranging from $9.73 billion to $10.10 billion. For the next year, analysts expect that the business will post sales of $11.21 billion, with estimates ranging from $10.89 billion to $11.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Lam Research.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.17. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.17 billion. Lam Research had a return on equity of 43.11% and a net margin of 22.38%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business posted $3.36 EPS.

A number of brokerages recently issued reports on LRCX. Cfra set a $210.00 target price on Lam Research and gave the stock a “hold” rating in a research note on Saturday, August 31st. Royal Bank of Canada increased their price target on Lam Research from $230.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC increased their price target on Lam Research from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. B. Riley increased their price target on Lam Research from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group downgraded Lam Research from a “neutral” rating to a “sell” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $260.50.

In other news, SVP Patrick J. Lord sold 1,620 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $268.75, for a total transaction of $435,375.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy Archer sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $270.00, for a total value of $2,700,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 58,934 shares of company stock worth $15,530,332 over the last 90 days. Insiders own 0.43% of the company’s stock.

Large investors have recently bought and sold shares of the company. Rational Advisors LLC grew its position in shares of Lam Research by 989.3% during the 2nd quarter. Rational Advisors LLC now owns 305 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 277 shares during the period. KBC Group NV boosted its holdings in Lam Research by 9.8% in the 2nd quarter. KBC Group NV now owns 70,637 shares of the semiconductor company’s stock worth $13,268,000 after buying an additional 6,277 shares during the last quarter. Glen Harbor Capital Management LLC boosted its holdings in Lam Research by 85.5% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 20,896 shares of the semiconductor company’s stock worth $3,925,000 after buying an additional 9,632 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in Lam Research in the 3rd quarter worth about $150,000. Finally, Columbus Circle Investors acquired a new stake in Lam Research in the 3rd quarter worth about $14,633,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

LRCX stock traded down $2.75 during midday trading on Wednesday, reaching $281.95. The stock had a trading volume of 2,256,992 shares, compared to its average volume of 1,341,449. The stock has a market cap of $39.95 billion, a PE ratio of 19.38, a P/E/G ratio of 1.34 and a beta of 1.64. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.99 and a current ratio of 3.59. The firm has a fifty day simple moving average of $272.07 and a two-hundred day simple moving average of $222.94. Lam Research has a 52-week low of $122.64 and a 52-week high of $288.87.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Tuesday, December 10th. Lam Research’s dividend payout ratio (DPR) is presently 31.62%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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