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Lam Research (LRCX) Dips More Than Broader Market: What You Should Know
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Lam Research (LRCX - Free Report) closed at $961.64 in the latest trading session, marking a -1.2% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.95%. At the same time, the Dow lost 1.09%, and the tech-heavy Nasdaq lost 0.84%.
Heading into today, shares of the semiconductor equipment maker had gained 2.37% over the past month, outpacing the Computer and Technology sector's gain of 1.67% and the S&P 500's gain of 1.78% in that time.
Investors will be eagerly watching for the performance of Lam Research in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 24, 2024. The company's upcoming EPS is projected at $7.23, signifying a 3.43% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.71 billion, indicating a 4.22% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $28.88 per share and revenue of $14.72 billion, which would represent changes of -15.48% and -15.54%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lam Research. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Lam Research is currently a Zacks Rank #2 (Buy).
With respect to valuation, Lam Research is currently being traded at a Forward P/E ratio of 33.7. For comparison, its industry has an average Forward P/E of 30.92, which means Lam Research is trading at a premium to the group.
Meanwhile, LRCX's PEG ratio is currently 3.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor Equipment - Wafer Fabrication was holding an average PEG ratio of 3.01 at yesterday's closing price.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Lam Research (LRCX) Dips More Than Broader Market: What You Should Know
Lam Research (LRCX - Free Report) closed at $961.64 in the latest trading session, marking a -1.2% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.95%. At the same time, the Dow lost 1.09%, and the tech-heavy Nasdaq lost 0.84%.
Heading into today, shares of the semiconductor equipment maker had gained 2.37% over the past month, outpacing the Computer and Technology sector's gain of 1.67% and the S&P 500's gain of 1.78% in that time.
Investors will be eagerly watching for the performance of Lam Research in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 24, 2024. The company's upcoming EPS is projected at $7.23, signifying a 3.43% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.71 billion, indicating a 4.22% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $28.88 per share and revenue of $14.72 billion, which would represent changes of -15.48% and -15.54%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lam Research. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Lam Research is currently a Zacks Rank #2 (Buy).
With respect to valuation, Lam Research is currently being traded at a Forward P/E ratio of 33.7. For comparison, its industry has an average Forward P/E of 30.92, which means Lam Research is trading at a premium to the group.
Meanwhile, LRCX's PEG ratio is currently 3.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor Equipment - Wafer Fabrication was holding an average PEG ratio of 3.01 at yesterday's closing price.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.