Lam Research Corporation (LRCX) Releases Earnings Results, Beats Expectations By $0.08 EPS

Lam Research Corporation (LRCX) reported quarterly earnings results on Wednesday, Apr-20-2016. The company said it had a profit of $1.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $1.10. The company posted revenue of $1314.06 million in the period, compared to analysts expectations of $1312.59 million. The company’s revenue was down -5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS.

Many Wall Street Analysts have commented on Lam Research Corporation. RBC Capital Mkts Resumed Lam Research Corporation on Mar 17, 2016 to “Outperform”, Price Target of the shares are set at $92.

Lam Research Corporation opened for trading at $81.67 and hit $82.42 on the upside on Monday, eventually ending the session at $82.06, with a gain of 0.51% or 0.42 points. The heightened volatility saw the trading volume jump to 27,07,630 shares. Company has a market cap of $13,039 M.

In a different news, on Oct 27, 2015, Martin B Anstice (President and CEO) sold 7,948 shares at $73.90 per share price. According to the SEC, on Jul 28, 2015, Douglas R Bettinger (EVP, Chief Financial Officer) sold 10,043 shares at $82.29 per share price. On Apr 3, 2015, Sarah A O’dowd (SVP, Chief Legal Officer) sold 5,000 shares at $70.59 per share price, according to the Form-4 filing with the securities and exchange commission.

Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company’s products are used primarily in front-end wafer processing which involves the steps that create the active components of a device and their wiring. It also addresses processes for back-end wafer-level packaging (WLP). In addition its products are offered for related markets that rely on semiconductor processes and require production-proven manufacturing capability such as micro-electromechanical systems (MEMS). Its thin film deposition systems form a device’s sub-microscopic layers of conducting (metal) or insulating (dielectric) materials. It is a provider of plasma etch a process step that selectively removes materials from the wafer to create the features and patterns of a device. Its wet spin clean and plasma-based bevel clean products remove particles residues and film from the wafer surface before or after adjacent processes.

Lam Research Corporation

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