Wall Street analysts forecast that Lam Research (LRCX) will report quarterly earnings of $1.36 per share in its upcoming release, pointing to a year-over-year increase of 30.8%. It is anticipated that revenues will amount to $5.77 billion, exhibiting an increase of 22.2% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Lam Research metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Revenue- Customer support-related revenue and other' reaching $1.94 billion. The estimate suggests a change of +15.3% year over year.
The consensus estimate for 'Revenue- Systems' stands at $3.82 billion. The estimate suggests a change of +25.8% year over year.
Analysts forecast 'Leading- and non-leading-edge equipment and upgrade Revenue - Memory' to reach 40.6%. The estimate compares to the year-ago value of 43.0%.
According to the collective judgment of analysts, 'Leading- and non-leading-edge equipment and upgrade Revenue - Logic/integrated device manufacturing' should come in at 7.2%. Compared to the current estimate, the company reported 9.0% in the same quarter of the previous year.
Analysts expect 'Leading- and non-leading-edge equipment and upgrade Revenue - Foundry' to come in at 52.2%. Compared to the current estimate, the company reported 48.0% in the same quarter of the previous year.
View all Key Company Metrics for Lam Research here>>>Shares of Lam Research have experienced a change of +11.5% in the past month compared to the +5.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), LRCX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).