Lam Research (NASDAQ:LRCX) Issues Q4 2022 Earnings Guidance

Lam Research (NASDAQ:LRCXGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $6.500-$8.000 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.240. The company issued revenue guidance of $3.90 billion-$4.50 billion, compared to the consensus revenue estimate of $4.46 billion.

Shares of NASDAQ:LRCX traded up $25.74 during midday trading on Thursday, reaching $482.52. The company had a trading volume of 35,151 shares, compared to its average volume of 1,502,958. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.34. The stock’s fifty day moving average price is $514.85 and its 200-day moving average price is $591.82. The stock has a market capitalization of $67.31 billion, a P/E ratio of 14.28, a PEG ratio of 0.81 and a beta of 1.24. Lam Research has a one year low of $449.50 and a one year high of $731.85.

Lam Research (NASDAQ:LRCXGet Rating) last released its earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share for the quarter, missing the consensus estimate of $7.51 by ($0.11). Lam Research had a net margin of 27.13% and a return on equity of 75.51%. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $7.49 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Lam Research will post 31.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 6th. Shareholders of record on Wednesday, March 16th were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, March 15th. This represents a $6.00 annualized dividend and a yield of 1.24%. Lam Research’s payout ratio is presently 18.76%.

LRCX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $650.00 to $560.00 and set a hold rating on the stock in a report on Wednesday, April 13th. DA Davidson reduced their price objective on Lam Research from $725.00 to $575.00 in a research report on Thursday, April 21st. Evercore ISI cut their target price on Lam Research from $855.00 to $800.00 and set an outperform rating for the company in a research note on Thursday, January 27th. Berenberg Bank upped their target price on Lam Research from $790.00 to $840.00 in a research note on Tuesday, January 18th. Finally, Zacks Investment Research lowered Lam Research from a buy rating to a hold rating and set a $583.00 price objective for the company. in a research note on Friday, January 28th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $670.90.

In related news, Director Catherine P. Lego bought 1,736 shares of the stock in a transaction dated Tuesday, April 26th. The stock was bought at an average price of $460.35 per share, with a total value of $799,167.60. Following the purchase, the director now owns 49,991 shares in the company, valued at approximately $23,013,356.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Gerald Meikle sold 700 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $541.22, for a total value of $378,854.00. Following the completion of the sale, the senior vice president now directly owns 20,425 shares of the company’s stock, valued at approximately $11,054,418.50. The disclosure for this sale can be found here. Insiders sold 1,937 shares of company stock valued at $1,092,843 over the last three months. Company insiders own 0.34% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. KB Financial Partners LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $35,000. Zullo Investment Group Inc. purchased a new stake in Lam Research during the 4th quarter valued at $42,000. Salem Investment Counselors Inc. boosted its stake in Lam Research by 420.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 177 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 143 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Lam Research during the 4th quarter valued at $228,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of Lam Research during the 4th quarter valued at $248,000. 81.60% of the stock is owned by institutional investors and hedge funds.

About Lam Research (Get Rating)

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.

Further Reading

Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

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