Lam Research (NASDAQ:LRCX) Issues Q4 2024 Earnings Guidance

Lam Research (NASDAQ:LRCX) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 6.750-8.250 for the period, compared to the consensus EPS estimate of 7.330. The company issued revenue guidance of $3.5 billion-$4.1 billion, compared to the consensus revenue estimate of $3.8 billion. Lam Research also updated its Q4 guidance to $6.75-$8.25 EPS.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $23.90 during trading hours on Friday, hitting $925.37. 1,263,818 shares of the company’s stock traded hands, compared to its average volume of 1,073,934. Lam Research has a 52 week low of $493.42 and a 52 week 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 company’s fifty day simple moving average is $943.68 and its two-hundred day simple moving average is $807.04. The company has a market cap of $121.32 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted $6.99 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research will post 28.96 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is 29.42%.

Analyst Ratings Changes

Several research analysts have commented on LRCX shares. JPMorgan Chase & Co. raised their target price on shares of Lam Research from $900.00 to $950.00 and gave the stock an overweight rating in a report on Thursday. Evercore ISI started coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an outperform rating and a $1,200.00 target price for the company. B. Riley upgraded shares of Lam Research from a neutral rating to a buy rating and raised their target price for the stock from $870.00 to $1,100.00 in a report on Friday, April 19th. Barclays raised their target price on shares of Lam Research from $825.00 to $865.00 and gave the stock an equal weight rating in a report on Thursday. Finally, Cantor Fitzgerald restated a neutral rating and set a $1,100.00 price target on shares of Lam Research in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research presently has a consensus rating of Moderate Buy and an average price target of $950.85.

Insider Activity at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were 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 of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Company Profile

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.