Lam Research Co. (NASDAQ:LRCX) Expected to Announce Quarterly Sales of $3.70 Billion

Wall Street analysts expect Lam Research Co. (NASDAQ:LRCX) to report $3.70 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Lam Research’s earnings. Lam Research reported sales of $2.50 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 48%. The company is expected to announce its next quarterly earnings report on Wednesday, April 28th.

According to Zacks, analysts expect that Lam Research will report full-year sales of $14.09 billion for the current year, with estimates ranging from $14.01 billion to $14.17 billion. For the next fiscal year, analysts expect that the company will post sales of $14.91 billion, with estimates ranging from $14.50 billion to $15.39 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Lam Research.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, January 26th. The semiconductor company reported $6.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.72 by $0.31. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.34 billion. Lam Research had a return on equity of 55.82% and a net margin of 23.60%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.01 EPS.

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Lam Research from $475.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 28th. B. Riley increased their target price on Lam Research from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Credit Suisse Group increased their target price on Lam Research from $450.00 to $650.00 and gave the stock an “outperform” rating in a research report on Monday, January 25th. Citigroup increased their target price on Lam Research from $420.00 to $660.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $616.00 target price (up from $557.00) on shares of Lam Research in a research report on Monday, January 18th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Lam Research presently has a consensus rating of “Buy” and an average price target of $480.00.

In other Lam Research news, SVP Seshasayee Varadarajan sold 10,000 shares of the stock in a transaction on Monday, December 21st. The shares were sold at an average price of $469.12, for a total value of $4,691,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Archer sold 15,793 shares of the stock in a transaction on Tuesday, December 29th. The shares were sold at an average price of $475.66, for a total transaction of $7,512,098.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,257 shares of company stock valued at $14,502,258. 0.34% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Pillar Pacific Capital Management LLC raised its stake in shares of Lam Research by 1.6% in the 4th quarter. Pillar Pacific Capital Management LLC now owns 1,244 shares of the semiconductor company’s stock valued at $587,000 after buying an additional 19 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Lam Research by 16.1% in the 4th quarter. First Horizon Advisors Inc. now owns 137 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 19 shares in the last quarter. Delta Asset Management LLC TN raised its stake in shares of Lam Research by 0.8% in the 4th quarter. Delta Asset Management LLC TN now owns 2,620 shares of the semiconductor company’s stock valued at $1,237,000 after buying an additional 20 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Lam Research by 1.9% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,072 shares of the semiconductor company’s stock valued at $507,000 after buying an additional 20 shares in the last quarter. Finally, Morse Asset Management Inc raised its stake in shares of Lam Research by 0.4% in the 4th quarter. Morse Asset Management Inc now owns 5,150 shares of the semiconductor company’s stock valued at $2,432,000 after buying an additional 20 shares in the last quarter. Institutional investors own 84.03% of the company’s stock.

Shares of Lam Research stock traded down $10.48 during trading hours on Thursday, reaching $557.32. 95,687 shares of the company’s stock were exchanged, compared to its average volume of 1,630,110. The company has a current ratio of 3.31, a quick ratio of 2.68 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $79.65 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.33. The company has a fifty day moving average of $539.14 and a 200-day moving average of $428.69. Lam Research has a 52-week low of $181.38 and a 52-week high of $603.60.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 7th. Investors of record on Wednesday, March 17th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, March 16th. Lam Research’s dividend payout ratio is currently 32.60%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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