Lam Research (NASDAQ:LRCX) Announces Earnings Results

Lam Research (NASDAQ:LRCX) announced its quarterly earnings data on Wednesday. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56, Zacks reports. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $5.98 earnings per share. Lam Research updated its Q1 guidance to $7.25-8.75 EPS and its Q1 2025 guidance to 7.250-8.750 EPS.

Lam Research Stock Performance

Shares of LRCX stock traded down $67.33 during trading on Friday, hitting $763.00. The company’s stock had a trading volume of 2,707,252 shares, compared to its average volume of 1,248,138. The company has a market cap of $99.75 billion, a PE ratio of 28.06, a P/E/G ratio of 2.41 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $999.84 and a 200-day moving average of $944.73. Lam Research has a 52 week low of $574.42 and a 52 week high of $1,130.00.

Lam Research’s stock is going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Tuesday, June 18th. Lam Research’s dividend payout ratio is presently 29.42%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christina Correia sold 647 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,326 shares of company stock valued at $17,383,715. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LRCX. B. Riley increased their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. increased 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, April 25th. Stifel Nicolaus increased their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. UBS Group increased their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Citigroup raised their price objective on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,007.85.

Lam Research declared that its board has initiated a stock repurchase plan on Tuesday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.