Analysts Expect Lam Research Corporation (LRCX) to Announce $3.02 Earnings Per Share

Brokerages expect Lam Research Corporation (NASDAQ:LRCX) to report $3.02 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Lam Research Corporation’s earnings, with estimates ranging from $3.00 to $3.07. Lam Research Corporation reported earnings per share of $1.80 during the same quarter last year, which would suggest a positive year over year growth rate of 67.8%. The firm is scheduled to announce its next earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that Lam Research Corporation will report full year earnings of $9.88 per share for the current year, with EPS estimates ranging from $9.83 to $9.93. For the next year, analysts expect that the firm will post earnings of $10.76 per share, with EPS estimates ranging from $8.08 to $12.62. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Lam Research Corporation.

Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.25. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Lam Research Corporation had a return on equity of 23.84% and a net margin of 19.82%. The company’s revenue was up 63.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share.

A number of research analysts have weighed in on the company. Bank of America Corporation restated a “buy” rating and issued a $195.00 price target (up from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. Deutsche Bank AG lifted their target price on Lam Research Corporation from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, May 30th. BidaskClub downgraded Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Citigroup Inc reiterated a “buy” rating and set a $200.00 target price on shares of Lam Research Corporation in a research note on Wednesday, May 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Lam Research Corporation has a consensus rating of “Buy” and a consensus price target of $151.31.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 1.16% during midday trading on Thursday, reaching $151.78. The company’s stock had a trading volume of 3,074,066 shares. The firm has a market cap of $24.48 billion, a price-to-earnings ratio of 19.28 and a beta of 1.39. The company has a 50-day moving average price of $153.26 and a 200-day moving average price of $127.64. Lam Research Corporation has a 12 month low of $79.15 and a 12 month high of $167.05.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 5th. This represents a $1.80 annualized dividend and a dividend yield of 1.19%. Lam Research Corporation’s payout ratio is 22.96%.

In related news, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $155.51, for a total transaction of $1,390,570.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen G. Newberry sold 20,047 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were 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 90 days, insiders have sold 41,759 shares of company stock worth $6,337,340. 0.46% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in LRCX. Tyers Asset Management LLC acquired a new stake in shares of Lam Research Corporation during the fourth quarter valued at approximately $6,304,000. Cantab Capital Partners LLP increased its position in Lam Research Corporation by 3.8% in the fourth quarter. Cantab Capital Partners LLP now owns 19,854 shares of the semiconductor company’s stock worth $2,099,000 after buying an additional 719 shares during the period. Cpcm LLC purchased a new position in Lam Research Corporation during the fourth quarter worth $232,000. Flinton Capital Management LLC purchased a new position in Lam Research Corporation during the fourth quarter worth $8,023,000. Finally, Greenwood Capital Associates LLC increased its position in Lam Research Corporation by 60.5% in the fourth quarter. Greenwood Capital Associates LLC now owns 28,094 shares of the semiconductor company’s stock worth $2,970,000 after buying an additional 10,586 shares during the period. Institutional investors own 99.35% 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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