Zacks Research Comments on Lam Research Co.'s Q3 2024 Earnings (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX - Free Report) - Analysts at Zacks Research raised their Q3 2024 earnings estimates for shares of Lam Research in a report issued on Thursday, April 18th. Zacks Research analyst R. Department now expects 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 $28.90 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data 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 net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the firm posted $10.71 EPS. The business's revenue for the quarter was down 28.8% on a year-over-year basis.

A number of other analysts have also issued reports on LRCX. Barclays increased their price target on shares of Lam Research from $750.00 to $825.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 25th. Evercore ISI initiated coverage on shares of Lam Research in a research report on Tuesday. They issued an "outperform" rating and a $1,200.00 price target for the company. TD Cowen increased their price target on shares of Lam Research from $710.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, B. Riley upgraded Lam Research from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $870.00 to $1,100.00 in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $899.64.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $18.67 during trading hours on Friday, hitting $870.25. 1,353,169 shares of the company's stock traded hands, compared to its average volume of 1,047,720. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. 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 company's fifty day simple moving average is $945.44 and its two-hundred day simple moving average is $799.83. The company has a market cap of $114.09 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Moneta Group Investment Advisors LLC lifted its position in Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company's stock worth $13,795,180,000 after purchasing an additional 32,794,236 shares during the period. Norges Bank bought a new position in shares of Lam Research during the fourth quarter valued at $1,414,111,000. Morgan Stanley lifted its holdings in shares of Lam Research by 34.8% during the fourth quarter. Morgan Stanley now owns 1,651,084 shares of the semiconductor company's stock valued at $693,952,000 after acquiring an additional 425,918 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Lam Research by 76,165.7% during the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company's stock valued at $249,099,000 after acquiring an additional 317,611 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Lam Research by 1,125.6% during the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company's stock valued at $267,984,000 after acquiring an additional 314,224 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm's 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 owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm's stock in a transaction 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 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. Over the last quarter, insiders have sold 7,029 shares of company stock worth $6,559,489. 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. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.92%. Lam Research's payout ratio is 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.