Lam Research (LRCX) Stock Moves -0.11%: What You Should Know
The most recent trading session ended with Lam Research (LRCX) standing at $925.68, reflecting a -0.11% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the semiconductor equipment maker had gained 1.2% in the past month. In that same time, the Computer and Technology sector gained 3.61%, while the S&P 500 gained 4.42%.
Analysts and investors alike will be keeping a close eye on the performance of Lam Research in its upcoming earnings disclosure. 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 annual period, the Zacks Consensus Estimates anticipate earnings of $28.88 per share and a revenue of $14.72 billion, signifying shifts of -15.48% and -15.54%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Lam Research. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.44% higher within the past month. Lam Research is currently a Zacks Rank #2 (Buy).
Looking at valuation, Lam Research is presently trading at a Forward P/E ratio of 32.08. This denotes a premium relative to the industry's average Forward P/E of 29.75.
Also, we should mention that LRCX has a PEG ratio of 3.3. 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 industry had an average PEG ratio of 2.91 as trading concluded yesterday.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Lam Research Corporation (LRCX) : Free Stock Analysis Report
