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Lam Research (LRCX) Stock Dips While Market Gains: Key Facts
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The latest trading session saw Lam Research (LRCX - Free Report) ending at $627.69, denoting a -0.07% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 0.39%.
Coming into today, shares of the semiconductor equipment maker had lost 6.1% in the past month. In that same time, the Computer and Technology sector lost 2.3%, while the S&P 500 lost 3.39%.
The upcoming earnings release of Lam Research will be of great interest to investors. The company's earnings report is expected on October 18, 2023. In that report, analysts expect Lam Research to post earnings of $6.07 per share. This would mark a year-over-year decline of 41.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.41 billion, down 32.79% from the year-ago period.
For the full year, the 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 -23.25%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.25% higher. Lam Research currently has a Zacks Rank of #2 (Buy).
With respect to valuation, Lam Research is currently being traded at a Forward P/E ratio of 23.42. This denotes a premium relative to the industry's average Forward P/E of 22.13.
It is also worth noting that LRCX currently has a PEG ratio of 3.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. 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 29, which puts it in the top 12% 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) Stock Dips While Market Gains: Key Facts
The latest trading session saw Lam Research (LRCX - Free Report) ending at $627.69, denoting a -0.07% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 0.39%.
Coming into today, shares of the semiconductor equipment maker had lost 6.1% in the past month. In that same time, the Computer and Technology sector lost 2.3%, while the S&P 500 lost 3.39%.
The upcoming earnings release of Lam Research will be of great interest to investors. The company's earnings report is expected on October 18, 2023. In that report, analysts expect Lam Research to post earnings of $6.07 per share. This would mark a year-over-year decline of 41.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.41 billion, down 32.79% from the year-ago period.
For the full year, the 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 -23.25%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.25% higher. Lam Research currently has a Zacks Rank of #2 (Buy).
With respect to valuation, Lam Research is currently being traded at a Forward P/E ratio of 23.42. This denotes a premium relative to the industry's average Forward P/E of 22.13.
It is also worth noting that LRCX currently has a PEG ratio of 3.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. 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 29, which puts it in the top 12% 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.