Lam Research (LRCX) closed the latest trading day at $73.36, indicating a -0.61% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 0.18%.

Shares of the semiconductor equipment maker have depreciated by 11.85% over the course of the past month, underperforming the Computer and Technology sector's loss of 11.69% and the S&P 500's loss of 7.29%.

Market participants will be closely following the financial results of Lam Research in its upcoming release. The company is expected to report EPS of $1, up 28.21% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $4.65 billion, indicating a 22.62% increase compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.73 per share and revenue of $17.72 billion, indicating changes of +24.75% and +18.91%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for Lam Research. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.94% increase. Lam Research presently features a Zacks Rank of #3 (Hold).

Investors should also note Lam Research's current valuation metrics, including its Forward P/E ratio of 19.8. Its industry sports an average Forward P/E of 24.69, so one might conclude that Lam Research is trading at a discount comparatively.

It's also important to note that LRCX currently trades at a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.56 based on yesterday's closing prices.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 30% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Corporation (LRCX) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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