Lam Research (LRCX) Stock Moves -0.33%: What You Should Know
Lam Research (LRCX) closed the latest trading day at $694.87, indicating a -0.33% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
Coming into today, shares of the semiconductor equipment maker had gained 8.71% in the past month. In that same time, the Computer and Technology sector gained 6.19%, while the S&P 500 gained 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of Lam Research in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $7.05, marking a 34.17% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $3.71 billion, down 29.72% from the year-ago period.
LRCX's full-year Zacks Consensus Estimates are calling for earnings of $27.65 per share and revenue of $14.66 billion. These results would represent year-over-year changes of -19.08% and -15.9%, respectively.
Investors might also notice recent changes to analyst estimates for Lam Research. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Lam Research presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Lam Research is presently trading at a Forward P/E ratio of 25.21. This valuation marks a premium compared to its industry's average Forward P/E of 22.47.
It's also important to note that LRCX currently trades at a PEG ratio of 4.82. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. LRCX's industry had an average PEG ratio of 3.59 as of yesterday's close.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LRCX in the coming trading sessions, be sure to utilize Zacks.com.
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Lam Research Corporation (LRCX) : Free Stock Analysis Report
