Q3 2024 EPS Estimates for Lam Research Co. (NASDAQ:LRCX) Lifted by Zacks Research

Lam Research Co. (NASDAQ:LRCX) – Stock analysts at Zacks Research raised their Q3 2024 earnings per share estimates for Lam Research in a research report issued to clients and investors on Thursday, April 18th. Zacks Research analyst R. Department now anticipates that the semiconductor company will post earnings per share of $7.08 for the quarter, up from their previous estimate of $6.96. The consensus estimate for Lam Research’s current full-year earnings is $28.92 per share. Zacks Research also issued estimates for Lam Research’s Q4 2024 earnings at $7.04 EPS, FY2024 earnings at $28.50 EPS, Q1 2025 earnings at $7.97 EPS, Q2 2025 earnings at $8.72 EPS, Q3 2025 earnings at $8.33 EPS, Q4 2025 earnings at $8.49 EPS, FY2025 earnings at $33.52 EPS, Q3 2026 earnings at $9.59 EPS and FY2026 earnings at $38.82 EPS.

Several other analysts have also recently issued reports on LRCX. Evercore ISI assumed coverage on Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price for the company. Wells Fargo & Company raised their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Mizuho raised their price target on Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. TD Cowen raised their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Barclays raised their price target on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $931.85.

Lam Research Stock Performance

NASDAQ:LRCX opened at $870.25 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The stock has a 50-day moving average price of $945.44 and a 200 day moving average price of $801.10. The stock has a market capitalization of $114.09 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.22 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business posted $10.71 earnings per share. The firm’s revenue was down 28.8% on a year-over-year basis.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Blue Whale Capital LLP increased its holdings in shares of Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after acquiring an additional 800 shares during the period. Everence Capital Management Inc. increased its holdings in shares of Lam Research by 54.7% in the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after acquiring an additional 1,440 shares during the period. Gradient Investments LLC increased its holdings in shares of Lam Research by 32,411.1% in the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after acquiring an additional 14,585 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Lam Research in the 4th quarter valued at $7,930,000. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Lam Research by 0.9% in the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after acquiring an additional 560 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on 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 sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last three months, insiders sold 7,029 shares of company stock valued at $6,559,489. Insiders own 0.32% of the company’s stock.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

Lam Research Company Profile

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.