Lam Research Corporation (NASDAQ:LRCX) Updates Q1 Earnings Guidance

Lam Research Corporation (NASDAQ:LRCX) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $3.13-3.37 for the period, compared to the Thomson Reuters consensus earnings per share 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.

A number of research firms have commented on LRCX. B. Riley restated a buy rating and issued a $220.00 price target on shares of Lam Research Corporation in a research report on Thursday. ValuEngine upgraded shares of Lam Research Corporation from a buy rating to a strong-buy rating in a research report on Thursday, August 3rd. Citigroup Inc. lowered shares of Lam Research Corporation from a buy rating to a neutral rating and reduced their target price for the stock from $200.00 to $175.00 in a research report on Thursday, August 3rd. BidaskClub lowered shares of Lam Research Corporation from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Finally, Berenberg Bank restated a buy rating on shares of Lam Research Corporation in a report on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $172.41.

Lam Research Corporation (NASDAQ LRCX) traded up 3.23% on Friday, reaching $154.26. 1,790,856 shares of the company were exchanged. Lam Research Corporation has a 12-month low of $88.51 and a 12-month high of $170.00. The stock has a market capitalization of $24.95 billion, a P/E ratio of 16.69 and a beta of 1.46. The company’s 50-day moving average price is $154.07 and its 200-day moving average price is $139.36.

Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm earned $1.80 EPS. The business’s quarterly revenue was up 51.6% on a year-over-year basis. Equities research analysts anticipate that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Lam Research Corporation’s payout ratio is currently 19.57%.

In related news, Director Stephen G. Newberry sold 20,047 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $150.01, for a total value of $3,007,250.47. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total value of $1,509,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,656 shares of company stock worth $7,925,366. Insiders own 0.46% of the company’s stock.

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Lam Research Corporation Company Profile

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.

Earnings History and Estimates for Lam Research Corporation (NASDAQ:LRCX)

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