LRCX - Lam Research's FQ4 earnings on deck what to expect?
2023-07-25 11:01:56 ET
Lam Research ( NASDAQ: LRCX ) is scheduled to announce FQ4 earnings results on Wednesday, July 26th, after ma`rket close.
The consensus EPS Estimate is $5.13 (-41.9% Y/Y) and the consensus Revenue Estimate is $3.15B (-32.1% Y/Y).
After FQ3 earnings report , the stock price marginally declined despite a beat on top and bottom line estimates. The company also laid out FQ4 expectations, expecting sales of $3.1B, plus or minus $300M, with gross margins 43.2%, plus or minus 1%. IEPS between $4.75 per share, plus or minus 75 cents.
Recently, Sitfel analyst Brian Chin raised his rating on the company to Buy from Hold and boosted his per-share price target to $725 from $505, pointing out beneficial business for dynamic random access memory on back of rising trend of artificial intelligence.
The adoption of foundry systems will likely contribute well for FQ4 results; however, weakening memory spending, especially in NAND, might be a concern.
Over the last 2 years, LRCX has beaten EPS estimates 88% of the time and has beaten revenue estimates 63% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 2 downward. Revenue estimates have seen 1 upward revision and 0 downward.
The stock has seen a ~42% surge in its price over the last year, much above the peers .
The sell-side analyst give the stock a Buy rating with an average target price of 625.22. Quant rating of Hold , with highest factor grades given to profitability and momentum. Digging deeper in the momentum grid of the stock , gives a comparative analysis vs. sector median and returns.
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Lam Research's FQ4 earnings on deck, what to expect?