Cantor Fitzgerald Analysts Boost Earnings Estimates for Lam Research Co. (NASDAQ:LRCX)

Lam Research Co. (NASDAQ:LRCX) – Analysts at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for shares of Lam Research in a research note issued to investors on Thursday, April 25th. Cantor Fitzgerald analyst C. Muse now anticipates that the semiconductor company will post earnings of $29.66 per share for the year, up from their prior forecast of $28.97. Cantor Fitzgerald has a “Neutral” rating and a $1,100.00 price target on the stock. The consensus estimate for Lam Research’s current full-year earnings is $28.96 per share.

Several other brokerages also recently issued reports on LRCX. Barclays boosted their price objective on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday. TD Cowen boosted their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised Lam Research from a “hold” rating to a “buy” rating in a report on Friday. Mizuho upped their price objective on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday. Finally, B. Riley upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and increased their target price for the company from $870.00 to $1,100.00 in a research report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Trading Up 2.7 %

Lam Research stock opened at $925.37 on Friday. The firm has a 50-day moving average price of $943.67 and a two-hundred day moving average price of $809.10. Lam Research has a 52-week low of $493.42 and a 52-week high of $1,007.39. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) 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 the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $6.99 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year.

Lam Research Dividend Announcement

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

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 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 $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently bought and sold shares of the business. Blue Whale Capital LLP boosted its holdings in shares of Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after purchasing an additional 800 shares during the period. Everence Capital Management Inc. boosted its stake in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares during the period. Gradient Investments LLC boosted its stake in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after buying an additional 14,585 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Lam Research during the 4th quarter valued at $7,930,000. Finally, Treasurer of the State of North Carolina increased its stake in shares of Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after acquiring an additional 560 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.