Equities Analysts Offer Predictions for Lam Research Co.’s Q3 2024 Earnings (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) – Stock analysts at Zacks Research increased their Q3 2024 earnings per share estimates for shares of Lam Research in a research report issued to clients and investors on Thursday, April 18th. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings of $7.08 per share for the quarter, up from their prior 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) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $10.71 EPS. The firm’s quarterly revenue was down 28.8% on a year-over-year basis.

Other analysts also recently issued research reports about the company. UBS Group boosted their price objective on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group boosted their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Needham & Company LLC boosted their price objective on Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen boosted their price objective on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Susquehanna boosted their target price on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $899.64.

Lam Research Stock Down 2.1 %

LRCX opened at $870.25 on Friday. Lam Research has a one year low of $493.42 and a one year 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 stock’s fifty day moving average is $945.44 and its 200-day moving average is $799.83. The company has a market capitalization of $114.09 billion, a PE ratio of 33.65, a P/E/G ratio of 3.30 and a beta of 1.51.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.92%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 22,095 shares in the company, 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. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $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 90 days. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

Several large investors have recently made changes to their positions in LRCX. Moneta Group Investment Advisors LLC boosted its stake in shares of Lam Research by 117,180.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after acquiring an additional 32,794,236 shares in the last quarter. Norges Bank bought a new stake in shares of Lam Research during the 4th quarter worth about $1,414,111,000. Morgan Stanley boosted its stake in Lam Research by 34.8% during the 4th quarter. Morgan Stanley now owns 1,651,084 shares of the semiconductor company’s stock valued at $693,952,000 after purchasing an additional 425,918 shares during the period. International Assets Investment Management LLC boosted its stake in Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after purchasing an additional 317,611 shares during the period. Finally, Cerity Partners LLC boosted its stake in Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after purchasing an additional 314,224 shares during the period. Institutional investors own 84.61% of the company’s stock.

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.