Lam Research Corporation (NASDAQ:LRCX) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.13-3.37 for the period, compared to the Thomson Reuters consensus estimate of $2.76. The company issued revenue guidance of $2.35-2.55 billion, compared to the consensus revenue estimate of $2.17 billion.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded down 2.13% on Thursday, hitting $164.76. 5,647,165 shares of the stock traded hands. The stock has a 50 day moving average of $153.55 and a 200-day moving average of $135.85. Lam Research Corporation has a 1-year low of $88.13 and a 1-year high of $170.00. The stock has a market cap of $26.58 billion, a PE ratio of 20.93 and a beta of 1.44.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.09. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a return on equity of 23.84% and a net margin of 19.82%. Lam Research Corporation’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 earnings per share. On average, equities research analysts expect that Lam Research Corporation will post $11.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, June 5th. Lam Research Corporation’s dividend payout ratio (DPR) is presently 22.96%.
LRCX has been the subject of a number of research reports. Morgan Stanley reiterated an overweight rating on shares of Lam Research Corporation in a research report on Friday, July 7th. Bank of America Corporation reiterated a buy rating and set a $195.00 price objective (up previously from $165.00) on shares of Lam Research Corporation in a research report on Sunday, June 11th. Needham & Company LLC boosted their price target on Lam Research Corporation from $165.00 to $175.00 and gave the company a buy rating in a report on Friday, June 16th. Stifel Nicolaus reissued a buy rating and set a $189.00 price target (up previously from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Finally, Deutsche Bank AG boosted their price target on Lam Research Corporation from $135.00 to $155.00 and gave the company a buy rating in a report on Wednesday, April 19th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Lam Research Corporation presently has an average rating of Buy and a consensus price target of $163.29.
In other news, SVP Sarah A. O’dowd sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total value of $1,509,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen G. Newberry sold 20,047 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $150.01, for a total value of $3,007,250.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,656 shares of company stock valued at $7,925,366. Corporate insiders own 0.46% of the company’s stock.
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About Lam Research Corporation
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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