FY2024 Earnings Estimate for Lam Research Co. (NASDAQ:LRCX) Issued By B. Riley

Lam Research Co. (NASDAQ:LRCX) – Equities researchers at B. Riley upped their FY2024 earnings per share estimates for shares of Lam Research in a research report issued on Wednesday, April 24th. B. Riley analyst C. Ellis now forecasts that the semiconductor company will earn $29.65 per share for the year, up from their prior estimate of $28.90. B. Riley currently has a “Buy” rating and a $1,100.00 target price on the stock. The consensus estimate for Lam Research’s current full-year earnings is $28.96 per share. B. Riley also issued estimates for Lam Research’s Q4 2024 earnings at $7.49 EPS, Q1 2025 earnings at $8.03 EPS, Q2 2025 earnings at $8.75 EPS, Q3 2025 earnings at $8.49 EPS, Q4 2025 earnings at $9.54 EPS, FY2025 earnings at $34.80 EPS, Q3 2026 earnings at $10.95 EPS and FY2026 earnings at $44.57 EPS.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the business earned $6.99 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis.

LRCX has been the topic of several other research reports. The Goldman Sachs Group boosted their price objective on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. StockNews.com raised Lam Research from a “hold” rating to a “buy” rating in a research report on Friday. Mizuho increased their price target on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna dropped their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Stifel Nicolaus increased their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Lam Research Stock Up 2.7 %

Lam Research stock opened at $925.37 on Friday. 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 firm has a 50 day moving average price of $943.67 and a 200 day moving average price of $809.10. Lam Research has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The company has a market capitalization of $121.32 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Orion Capital Management LLC acquired a new stake in Lam Research during the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC acquired a new position in Lam Research in the 3rd quarter valued at $28,000. DSM Capital Partners LLC acquired a new stake in shares of Lam Research in the 4th quarter worth $28,000. OFI Invest Asset Management purchased a new stake in shares of Lam Research in the third quarter valued at about $30,000. Finally, Asset Dedication LLC boosted its holdings in shares of Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

About Lam Research

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.