KeyCorp Has Bullish Outlook for Lam Research FY2026 Earnings

Key Points

• KeyCorp has raised its FY2026 earnings estimate for Lam Research to $4.63 per share, up from $4.05, while maintaining an "Overweight" rating and a target price of $115.00.
• Lam Research recently reported quarterly earnings of $1.33 EPS, exceeding estimates, and set Q1 2026 guidance at 1.100-1.300 EPS, with a significant year-over-year revenue increase of 33.6%.
• Institutional investors own 84.61% of Lam Research’s stock, reflecting strong institutional interest amidst multiple analysts giving the stock a "Buy" rating.

Lam Research Corporation (NASDAQ:LRCX - Free Report) - Stock analysts at KeyCorp upped their FY2026 earnings estimates for shares of Lam Research in a note issued to investors on Monday, September 22nd. KeyCorp analyst S. Barger now anticipates that the semiconductor company will post earnings of $4.63 per share for the year, up from their prior forecast of $4.05. KeyCorp currently has a "Overweight" rating and a $115.00 price target on the stock. The consensus estimate for Lam Research's current full-year earnings is $3.71 per share.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%.The company's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS.

A number of other research firms also recently weighed in on LRCX. The Goldman Sachs Group started coverage on shares of Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 price target on the stock. Needham & Company LLC raised their target price on Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Morgan Stanley set a $125.00 price target on Lam Research and gave the stock an "equal weight" rating in a research report on Monday. TD Cowen increased their price objective on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus boosted their target price on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Twenty investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and an average target price of $111.35.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $128.32 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research has a one year low of $56.32 and a one year high of $133.57. The business's 50-day moving average price is $105.18 and its two-hundred day moving average price is $89.35. The company has a market capitalization of $161.82 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 1.68 and a beta of 1.76.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 24th will be paid a dividend of $0.26 per share. This is an increase from Lam Research's previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, September 24th. Lam Research's dividend payout ratio is currently 22.12%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LRCX. Empowered Funds LLC boosted its holdings in Lam Research by 10.5% in the first quarter. Empowered Funds LLC now owns 187,472 shares of the semiconductor company's stock valued at $13,629,000 after acquiring an additional 17,833 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new position in Lam Research during the 1st quarter valued at about $201,000. Cookson Peirce & Co. Inc. bought a new position in shares of Lam Research in the 1st quarter valued at about $607,000. China Universal Asset Management Co. Ltd. grew its position in shares of Lam Research by 27.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after buying an additional 10,565 shares during the period. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Lam Research by 47.8% during the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock worth $8,862,000 after buying an additional 39,414 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

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.

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