Lam Research Corp reports results for the quarter ended December 31 - Earnings Summary

• Lam Research Corp LRCX.OQ reported quarterly adjusted earnings of 91 cents​​ per share for the quarter ended December 31, higher than the same quarter last year, when the company reported EPS of 75 cents. The mean expectation of twenty three analysts for the quarter was for earnings of 88 cents per share. Wall Street expected results to range from 85 cents to 92 cents per share.

• Revenue rose 16.4% to $4.38 billion from a year ago; analysts expected $4.31 billion.

• Lam Research Corp's reported EPS for the quarter was 92 cents​.

• The company reported quarterly net income of $1.19 billion.

• Lam Research Corp shares had risen by 3.2% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.4% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy," 11 "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the semiconductor equipment & testing peer group is also "buy"

Wall Street's median 12-month price target for Lam Research Corp is $90.00

This summary was machine generated from LSEG data January 29 at 10:40 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)