Analysts Set Expectations for Lam Research Co.’s Q1 2023 Earnings (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCXGet Rating) – Jefferies Financial Group lifted their Q1 2023 earnings estimates for Lam Research in a report issued on Thursday, July 28th. Jefferies Financial Group analyst M. Lipacis now forecasts that the semiconductor company will earn $9.50 per share for the quarter, up from their previous estimate of $8.52. The consensus estimate for Lam Research’s current full-year earnings is $31.61 per share. Jefferies Financial Group also issued estimates for Lam Research’s Q2 2023 earnings at $11.19 EPS, Q3 2023 earnings at $10.73 EPS, FY2023 earnings at $41.75 EPS and FY2024 earnings at $41.32 EPS.

Several other brokerages also recently weighed in on LRCX. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $560.00 to $480.00 in a report on Monday, July 18th. Wells Fargo & Company raised their target price on shares of Lam Research from $460.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup lowered their price target on shares of Lam Research from $720.00 to $700.00 in a report on Thursday. Morgan Stanley reduced their price objective on shares of Lam Research from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $612.18.

Lam Research Stock Up 3.2 %

Shares of NASDAQ LRCX opened at $500.51 on Monday. The stock has a market cap of $69.43 billion, a P/E ratio of 15.65, a PEG ratio of 1.18 and a beta of 1.31. The business’s fifty day simple moving average is $455.56 and its 200-day simple moving average is $505.27. Lam Research has a 12-month low of $375.87 and a 12-month high of $731.85. The company has a current ratio of 2.83, a quick ratio of 2.00 and a debt-to-equity ratio of 0.83.

Lam Research (NASDAQ:LRCXGet Rating) last released its earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.30 by $1.53. The company had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.21 billion. Lam Research had a net margin of 27.13% and a return on equity of 75.51%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $8.09 EPS.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th were issued a $1.50 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research’s payout ratio is 18.76%.

Institutional Trading of Lam Research

A number of large investors have recently bought and sold shares of LRCX. Missouri Trust & Investment Co acquired a new position in Lam Research in the fourth quarter valued at $25,000. Allegheny Financial Group LTD purchased a new position in shares of Lam Research during the fourth quarter worth about $25,000. Vectors Research Management LLC increased its position in Lam Research by 133.3% in the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 20 shares during the period. Stonebridge Capital Advisors LLC raised its stake in Lam Research by 100.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 19 shares during the last quarter. Finally, Capital Advisory Group Advisory Services LLC acquired a new stake in Lam Research during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 82.34% of the company’s stock.

About Lam Research

(Get Rating)

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.

See Also

Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

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