Categories Earnings, Technology

Lam Research betters Q3 expectations; stock surges

Lam Research (NASDAQ: LRCX) surpasses third quarter 2019 earnings and revenue estimates. Adjusted earnings of $3.70 and revenue of $2.44 billion beat analysts’ views of earnings of $3.38 per share and revenue of $2.4 billion for the March quarter. Lam Research stock rose 5% during after-hours of trading.

For the quarter ending June 30, 2019, the Fremont, California-based semiconductor firm expects earnings per share to be $3.31, plus or minus 20 cents on a GAAP basis, and earnings per share to be $3.40, plus or minus 20 cents on a non-GAAP basis. Revenue is touted to be $2.35 billion, plus or minus $150 million for the June quarter.

Lam Research (LRCX) Q3 2019 earnings infograph

“Lam’s March quarter results demonstrate strong execution in a challenging near-term industry environment,” said CEO Timothy Archer.

The company paid a quarterly dividend of $1.10 per share on April 10, 2019, to shareholders of record as of March 20, 2019.

The semiconductor industry, which was battered in 2018 by the trade war between the US and China, the fear of global economy slow down, and the crash in cryptocurrency, bounced back in 2019. This is evidence by the fact that the Philadelphia Semiconductor Index increased 37% in 2019.

LRCX stock, which inched up 0.34% to $195.44 when market closed today. had gained 44% since beginning of this year and 5% in the past 12 months.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

 

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “Lam Research betters Q3 expectations; stock surges

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top