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Lam Research (LRCX) Rises As Market Takes a Dip: Key Facts
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Lam Research (LRCX - Free Report) closed at $761.14 in the latest trading session, marking a +0.19% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Heading into today, shares of the semiconductor equipment maker had lost 1.33% over the past month, lagging the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56% in that time.
The investment community will be paying close attention to the earnings performance of Lam Research in its upcoming release. The company is slated to reveal its earnings on January 24, 2024. In that report, analysts expect Lam Research to post earnings of $7.05 per share. This would mark a year-over-year decline of 34.17%. Simultaneously, our latest consensus estimate expects the revenue to be $3.71 billion, showing a 29.72% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $27.56 per share and a revenue of $14.62 billion, demonstrating changes of -19.34% and -16.13%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Lam Research. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Lam Research is currently a Zacks Rank #3 (Hold).
In the context of valuation, Lam Research is at present trading with a Forward P/E ratio of 27.56. This valuation marks a premium compared to its industry's average Forward P/E of 23.85.
It is also worth noting that LRCX currently has a PEG ratio of 4.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Semiconductor Equipment - Wafer Fabrication industry held an average PEG ratio of 3.39.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Lam Research (LRCX) Rises As Market Takes a Dip: Key Facts
Lam Research (LRCX - Free Report) closed at $761.14 in the latest trading session, marking a +0.19% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Heading into today, shares of the semiconductor equipment maker had lost 1.33% over the past month, lagging the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56% in that time.
The investment community will be paying close attention to the earnings performance of Lam Research in its upcoming release. The company is slated to reveal its earnings on January 24, 2024. In that report, analysts expect Lam Research to post earnings of $7.05 per share. This would mark a year-over-year decline of 34.17%. Simultaneously, our latest consensus estimate expects the revenue to be $3.71 billion, showing a 29.72% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $27.56 per share and a revenue of $14.62 billion, demonstrating changes of -19.34% and -16.13%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Lam Research. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Lam Research is currently a Zacks Rank #3 (Hold).
In the context of valuation, Lam Research is at present trading with a Forward P/E ratio of 27.56. This valuation marks a premium compared to its industry's average Forward P/E of 23.85.
It is also worth noting that LRCX currently has a PEG ratio of 4.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Semiconductor Equipment - Wafer Fabrication industry held an average PEG ratio of 3.39.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.