Q3 2024 Earnings Estimate for Lam Research Co. Issued By B. Riley (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCXFree Report) – Analysts at B. Riley boosted their Q3 2024 earnings per share estimates for shares of Lam Research in a research note issued on Thursday, January 25th. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings of $7.25 per share for the quarter, up from their prior estimate of $6.51. B. Riley currently has a “Neutral” rating and a $700.00 target price on the stock. The consensus estimate for Lam Research’s current full-year earnings is $28.35 per share. B. Riley also issued estimates for Lam Research’s FY2024 earnings at $28.90 EPS.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating 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 company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the firm posted $10.71 earnings per share. The business’s quarterly revenue was down 28.8% on a year-over-year basis.

Other analysts have also issued reports about the company. Susquehanna boosted their target price on Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group decreased their target price on Lam Research from $750.00 to $725.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Citigroup increased their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Evercore ISI decreased their target price on Lam Research from $750.00 to $700.00 in a research report on Thursday, October 5th. Finally, TD Cowen increased their target price on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $793.27.

Check Out Our Latest Analysis on Lam Research

Lam Research Stock Down 1.2 %

Shares of NASDAQ:LRCX opened at $835.79 on Monday. Lam Research has a 52-week low of $467.02 and a 52-week high of $900.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The business’s 50 day simple moving average is $761.89 and its two-hundred day simple moving average is $691.23. The firm has a market cap of $110.15 billion, a P/E ratio of 32.32, a PEG ratio of 3.04 and a beta of 1.54.

Institutional Trading of Lam Research

Hedge funds have recently bought and sold shares of the business. Orion Capital Management LLC purchased a new stake in shares of Lam Research in the 3rd quarter valued at approximately $25,000. Bollard Group LLC increased its stake in Lam Research by 60.0% in the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 15 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter valued at about $28,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Lam Research in the second quarter valued at about $29,000. Finally, OFI Invest Asset Management purchased a new stake in Lam Research during the third quarter worth about $30,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Insider Activity

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total value of $497,381.25. Following the sale, the chief accounting officer now directly owns 5,492 shares of the company’s stock, valued at $4,221,975. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Timothy Archer sold 10,524 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the completion of the transaction, the chief executive officer now owns 86,449 shares in the company, valued at approximately $63,280,668. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $768.75, for a total transaction of $497,381.25. Following the transaction, the chief accounting officer now owns 5,492 shares of the company’s stock, valued at approximately $4,221,975. The disclosure for this sale can be found here. Insiders have sold 35,236 shares of company stock valued at $25,375,687 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, December 12th. This is an increase from Lam Research’s previous quarterly dividend of $0.28. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.96%. Lam Research’s dividend payout ratio is presently 30.94%.

About Lam Research

(Get Free Report)

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.

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

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