In the latest trading session, Lam Research (LRCX) closed at $585.35, marking a -0.58% move from the previous day. This change traded in line with S&P 500.
Coming into today, shares of the semiconductor equipment maker had lost 7.28% in the past month. In that same time, the Computer and Technology sector gained 2.42%, while the S&P 500 gained 2.07%.
LRCX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $8.13, up 43.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.3 billion, up 35.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $33.45 per share and revenue of $17.62 billion, which would represent changes of +22.8% and +20.44%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for LRCX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.19% higher. LRCX is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, LRCX is holding a Forward P/E ratio of 17.6. This represents a discount compared to its industry’s average Forward P/E of 19.32.
We can also see that LRCX currently has a PEG ratio of 1.04. 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. LRCX’s industry had an average PEG ratio of 1.04 as of yesterday’s close.
The Semiconductor Equipment – Wafer Fabrication industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 123, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
