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Lam Research (LRCX) Dips More Than Broader Markets: What You Should Know
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Lam Research (LRCX - Free Report) closed at $463.14 in the latest trading session, marking a -1.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.09%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.22%.
Coming into today, shares of the semiconductor equipment maker had gained 19.43% in the past month. In that same time, the Computer and Technology sector gained 7.08%, while the S&P 500 gained 5.55%.
Wall Street will be looking for positivity from Lam Research as it approaches its next earnings report date. On that day, Lam Research is projected to report earnings of $9.93 per share, which would represent year-over-year growth of 16.41%. Our most recent consensus estimate is calling for quarterly revenue of $5.08 billion, up 20.25% from the year-ago period.
LRCX's full-year Zacks Consensus Estimates are calling for earnings of $34.63 per share and revenue of $18.21 billion. These results would represent year-over-year changes of +4.56% and +5.69%, respectively.
It is also important to note the recent changes to analyst estimates for Lam Research. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.26% lower. Lam Research is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Lam Research is holding a Forward P/E ratio of 13.64. This valuation marks a discount compared to its industry's average Forward P/E of 15.17.
We can also see that LRCX currently has a PEG ratio of 1.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. LRCX's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Lam Research (LRCX) Dips More Than Broader Markets: What You Should Know
Lam Research (LRCX - Free Report) closed at $463.14 in the latest trading session, marking a -1.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.09%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.22%.
Coming into today, shares of the semiconductor equipment maker had gained 19.43% in the past month. In that same time, the Computer and Technology sector gained 7.08%, while the S&P 500 gained 5.55%.
Wall Street will be looking for positivity from Lam Research as it approaches its next earnings report date. On that day, Lam Research is projected to report earnings of $9.93 per share, which would represent year-over-year growth of 16.41%. Our most recent consensus estimate is calling for quarterly revenue of $5.08 billion, up 20.25% from the year-ago period.
LRCX's full-year Zacks Consensus Estimates are calling for earnings of $34.63 per share and revenue of $18.21 billion. These results would represent year-over-year changes of +4.56% and +5.69%, respectively.
It is also important to note the recent changes to analyst estimates for Lam Research. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.26% lower. Lam Research is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Lam Research is holding a Forward P/E ratio of 13.64. This valuation marks a discount compared to its industry's average Forward P/E of 15.17.
We can also see that LRCX currently has a PEG ratio of 1.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. LRCX's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.