Wall Street analysts forecast that Lam Research (LRCX) will report quarterly earnings of $1.17 per share in its upcoming release, pointing to a year-over-year increase of 28.6%. It is anticipated that revenues will amount to $5.23 billion, exhibiting an increase of 19.6% compared to the year-ago quarter.
Over the last 30 days, there has been an upward revision of 1.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Lam Research metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Revenue- Customer support-related revenue and other' to come in at $1.78 billion. The estimate indicates a year-over-year change of +1.5%.
The combined assessment of analysts suggests that 'Revenue- Systems' will likely reach $3.44 billion. The estimate suggests a change of +31% year over year.
It is projected by analysts that the 'Leading- and non-leading-edge equipment and upgrade Revenue - Memory' will reach 42.7%. Compared to the present estimate, the company reported 50.0% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Leading- and non-leading-edge equipment and upgrade Revenue - Logic/integrated device manufacturing' of 6.4%. The estimate compares to the year-ago value of 15.0%.
Analysts' assessment points toward 'Leading- and non-leading-edge equipment and upgrade Revenue - Foundry' reaching 50.9%. The estimate is in contrast to the year-ago figure of 35.0%.
View all Key Company Metrics for Lam Research here>>>
Lam Research shares have witnessed a change of +24.5% in the past month, in contrast to the Zacks S&P 500 composite's +0.6% move. With a Zacks Rank #1 (Strong Buy), LRCX is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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
Lam Research Corporation (LRCX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
