Lam Research Corporation (LRCX) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. LRCX said it had a profit of $1.81 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.78. The company posted revenue of $1632.42 million in the period, compared to analysts expectations of $1633.59 million. LRCX’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS.
Many Wall Street Analysts have commented on Lam Research Corporation. Lam Research Corporation was Downgraded by Pacific Crest to ” Sector Weight” on Oct 12, 2016. Lam Research Corporation was Downgraded by Nomura to ” Neutral” on Aug 11, 2016. Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 102 from a previous price target of $93 .
Lam Research Corporation opened for trading at $98.32 and hit $99.1649 on the upside on Friday, eventually ending the session at $98.22, with a gain of 0.50% or 0.49 points. The heightened volatility saw the trading volume jump to 26,80,894 shares. Company has a market cap of $15,741 M.
In a different news, on Oct 11, 2016, Richard A Gottscho (Executive Vice President) sold 47,540 shares at $98.85 per share price. According to the SEC, on Oct 27, 2015, Martin B Anstice (President and CEO) sold 7,948 shares at $73.90 per share price. On Jul 28, 2015, Douglas R Bettinger (EVP, Chief Financial Officer) sold 10,043 shares at $82.29 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.