FY2024 Earnings Estimate for Lam Research Co. (NASDAQ:LRCX) Issued By Cantor Fitzgerald

Lam Research Co. (NASDAQ:LRCX) – Equities research analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for Lam Research in a research note issued on Thursday, April 25th. Cantor Fitzgerald analyst C. Muse now anticipates that the semiconductor company will post earnings of $29.66 per share for the year, up from their previous forecast of $28.97. Cantor Fitzgerald has a “Neutral” rating and a $1,100.00 price objective on the stock. The consensus estimate for Lam Research’s current full-year earnings is $29.46 per share.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm earned $6.99 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year.

A number of other research firms have also recently commented on LRCX. Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. TD Cowen upped their price objective on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. Citigroup increased their price target on shares of Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $1,030.00 price objective on shares of Lam Research in a research note on Thursday. Finally, StockNews.com upgraded Lam Research from a “hold” rating to a “buy” rating in a research report on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Trading Up 2.7 %

Shares of LRCX opened at $925.37 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. Lam Research has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The stock has a market capitalization of $121.32 billion, a PE ratio of 34.03, a P/E/G ratio of 3.20 and a beta of 1.51. The company’s fifty day moving average is $943.67 and its 200 day moving average is $810.33.

Institutional Investors Weigh In On Lam Research

Several large investors have recently modified their holdings of LRCX. Vanguard Group Inc. raised its stake in shares of Lam Research by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock worth $9,173,343,000 after purchasing an additional 79,581 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after buying an additional 86,721 shares during the last quarter. Morgan Stanley boosted its stake in Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after buying an additional 56,824 shares during the last quarter. Norges Bank acquired a new position in shares of Lam Research in the 4th quarter valued at about $1,414,111,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after purchasing an additional 159,815 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lam Research

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

Lam Research Announces Dividend

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

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.