Equities analysts expect that Lam Research Corporation (NASDAQ:LRCX) will announce sales of $2.31 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Lam Research Corporation’s earnings, with the highest sales estimate coming in at $2.34 billion and the lowest estimate coming in at $2.30 billion. Lam Research Corporation posted sales of $1.55 billion in the same quarter last year, which would indicate a positive year over year growth rate of 49%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Lam Research Corporation will report full year sales of $2.31 billion for the current financial year, with estimates ranging from $7.97 billion to $8.01 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.79 billion per share, with estimates ranging from $8.20 billion to $9.65 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Lam Research Corporation.
Several equities research analysts have weighed in on the company. UBS AG reiterated a “buy” rating and issued a $158.00 target price (up from $144.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. B. Riley reiterated a “buy” rating and issued a $175.00 target price on shares of Lam Research Corporation in a report on Monday, April 24th. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Pacific Crest reiterated an “overweight” rating and issued a $180.00 target price (up from $163.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $150.00 target price on shares of Lam Research Corporation in a report on Monday, April 17th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $153.59.
Lam Research Corporation (NASDAQ:LRCX) traded up 0.21% during mid-day trading on Thursday, hitting $164.46. The stock had a trading volume of 2,082,769 shares. The stock’s 50-day moving average price is $153.22 and its 200-day moving average price is $135.20. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 20.89 and a beta of 1.45. Lam Research Corporation has a 12 month low of $88.13 and a 12 month high of $167.05.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, June 5th. Lam Research Corporation’s dividend payout ratio is currently 22.96%.
In related news, Director Stephen G. Newberry sold 20,047 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $150.01, for a total transaction of $3,007,250.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The disclosure for this sale can be found here. Insiders have sold a total of 51,656 shares of company stock worth $7,925,366 over the last ninety days. 0.46% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Main Street Research LLC raised its position in shares of Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock valued at $13,856,000 after buying an additional 3,367 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock valued at $30,741,000 after buying an additional 107,149 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Lam Research Corporation by 21.9% in the first quarter. Rafferty Asset Management LLC now owns 46,035 shares of the semiconductor company’s stock valued at $5,909,000 after buying an additional 8,255 shares in the last quarter. Soros Fund Management LLC acquired a new position in shares of Lam Research Corporation during the first quarter valued at about $71,978,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Lam Research Corporation by 8.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 24,838 shares of the semiconductor company’s stock valued at $3,188,000 after buying an additional 1,879 shares in the last quarter. 99.18% of the stock is currently owned by institutional investors.
About Lam Research Corporation
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.
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