Lam Research Corporation Just Beat EPS By 5.7%: Here's What Analysts Think Will Happen Next
Lam Research Corporation Just Beat EPS By 5.7%: Here's What Analysts Think Will Happen Next
As you might know, Lam Research Corporation (NASDAQ:LRCX) recently reported its quarterly numbers. The result was positive overall - although revenues of US$3.8b were in line with what the analysts predicted, Lam Research surprised by delivering a statutory profit of US$7.34 per share, modestly greater than expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
如你所知,林業研究公司(納斯達克股票代碼:LRCX)最近公佈了其季度數據。總體結果是積極的——儘管38億美元的收入與分析師的預測一致,但Lam Research出人意料地實現了每股7.34美元的法定利潤,略高於預期。對於投資者來說,盈利是一個重要時刻,因爲他們可以追蹤公司的業績,查看分析師對明年的預測,看看對公司的情緒是否發生了變化。我們認爲,讀者會發現分析師對明年最新(法定)業績後的預測很有趣。
Taking into account the latest results, the most recent consensus for Lam Research from 28 analysts is for revenues of US$17.7b in 2025. If met, it would imply a substantial 24% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to jump 26% to US$34.78. In the lead-up to this report, the analysts had been modelling revenues of US$17.5b and earnings per share (EPS) of US$34.35 in 2025. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
考慮到最新結果,28位分析師對Lam Research的最新共識是,到2025年,收入爲177億美元。如果得到滿足,這意味着其收入在過去12個月中將大幅增長24%。預計每股法定收益將增長26%,至34.78美元。在本報告發布之前,分析師一直在模擬2025年收入爲175億美元,每股收益(EPS)爲34.35美元。因此,很明顯,儘管分析師已經更新了估計,但在最新業績公佈後,對該業務的預期沒有重大變化。
The analysts reconfirmed their price target of US$978, showing that the business is executing well and in line with expectations. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Lam Research analyst has a price target of US$1,200 per share, while the most pessimistic values it at US$680. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Lam Research shareholders.
分析師再次確認了978美元的目標股價,這表明該業務表現良好,符合預期。但是,還有另一種思考價格目標的方法,那就是研究分析師提出的價格目標範圍,因爲範圍廣泛的估計可能表明,對業務可能的結果有不同的看法。最樂觀的林研分析師將目標股價定爲每股1,200美元,而最悲觀的分析師則將其目標股價定爲680美元。分析師對該業務的看法肯定各不相同,但在我們看來,估計的分歧還不夠大,不足以表明林研股東可能會有極端的結果。
Of course, another way to look at these forecasts is to place them into context against the industry itself. It's clear from the latest estimates that Lam Research's rate of growth is expected to accelerate meaningfully, with the forecast 19% annualised revenue growth to the end of 2025 noticeably faster than its historical growth of 13% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 17% annually. Lam Research is expected to grow at about the same rate as its industry, so it's not clear that we can draw any conclusions from its growth relative to competitors.
當然,看待這些預測的另一種方法是將它們與行業本身聯繫起來。從最新估計中可以明顯看出,Lam Research的增長率預計將大幅加速,預計到2025年底的年化收入增長率爲19%,將明顯快於過去五年中每年13%的歷史增長。相比之下,同行業的其他公司預計收入每年將增長17%。預計Lam Research的增長速度將與其行業大致相同,因此目前尚不清楚我們能否從其相對於競爭對手的增長中得出任何結論。
The Bottom Line
底線
The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
最明顯的結論是,該業務的前景最近沒有重大變化,分析師的收益預測保持穩定,與先前的估計一致。令人高興的是,收入預測沒有實際變化,預計該業務仍將與整個行業保持一致。共識目標股價沒有實際變化,這表明該業務的內在價值與最新估計相比沒有發生任何重大變化。
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Lam Research going out to 2026, and you can see them free on our platform here..
根據這種思路,我們認爲該業務的長期前景比明年的收益重要得多。在Simply Wall St,我們有分析師對Lam Research到2026年的全方位估計,你可以在我們的平台上免費看到這些估計。
Another thing to consider is whether management and directors have been buying or selling stock recently. We provide an overview of all open market stock trades for the last twelve months on our platform, here.
需要考慮的另一件事是管理層和董事最近是否在買入或賣出股票。我們在此處概述了過去十二個月在我們的平台上所有公開市場股票交易。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。