Lam Research Corporation (LRCX) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $1.80 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.16. Analysts had a consensus of $1.64. The company posted revenue of $1546.26 million in the period, compared to analysts expectations of $1530.74 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.
Many Wall Street Analysts have commented on Lam Research Corporation. Company shares were Reiterated by Cowen on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .Shares were Reiterated by Cowen on May 16, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $93 .
Lam Research Corporation opened for trading at $92.94 and hit $93.8 on the upside on Thursday, eventually ending the session at $93.08, with a gain of 1.22% or 1.12 points. The heightened volatility saw the trading volume jump to 28,24,495 shares. Company has a market cap of $14,855 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.