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Lam Research (LRCX) Outpaces Stock Market Gains: What You Should Know
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Lam Research (LRCX - Free Report) closed at $630.88 in the latest trading session, marking a +0.66% move from the prior day. This move outpaced the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Coming into today, shares of the semiconductor equipment maker had lost 10.71% in the past month. In that same time, the Computer and Technology sector lost 4.63%, while the S&P 500 lost 4.45%.
Wall Street will be looking for positivity from Lam Research as it approaches its next earnings report date. This is expected to be October 18, 2023. The company is expected to report EPS of $6.07, down 41.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.41 billion, down 32.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $26.82 per share and revenue of $14.47 billion, which would represent changes of -21.51% and -16.96%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Lam Research. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 has moved 0.25% higher within the past month. Lam Research is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Lam Research has a Forward P/E ratio of 23.37 right now. Its industry sports an average Forward P/E of 22.51, so we one might conclude that Lam Research is trading at a premium comparatively.
We can also see that LRCX currently has a PEG ratio of 3.78. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. LRCX's industry had an average PEG ratio of 2.87 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 34, which puts it in the top 14% 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.
To follow LRCX in the coming trading sessions, be sure to utilize Zacks.com.
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Lam Research (LRCX) Outpaces Stock Market Gains: What You Should Know
Lam Research (LRCX - Free Report) closed at $630.88 in the latest trading session, marking a +0.66% move from the prior day. This move outpaced the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Coming into today, shares of the semiconductor equipment maker had lost 10.71% in the past month. In that same time, the Computer and Technology sector lost 4.63%, while the S&P 500 lost 4.45%.
Wall Street will be looking for positivity from Lam Research as it approaches its next earnings report date. This is expected to be October 18, 2023. The company is expected to report EPS of $6.07, down 41.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.41 billion, down 32.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $26.82 per share and revenue of $14.47 billion, which would represent changes of -21.51% and -16.96%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Lam Research. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 has moved 0.25% higher within the past month. Lam Research is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Lam Research has a Forward P/E ratio of 23.37 right now. Its industry sports an average Forward P/E of 22.51, so we one might conclude that Lam Research is trading at a premium comparatively.
We can also see that LRCX currently has a PEG ratio of 3.78. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. LRCX's industry had an average PEG ratio of 2.87 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 34, which puts it in the top 14% 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.
To follow LRCX in the coming trading sessions, be sure to utilize Zacks.com.