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

• Lam Research Corp LRCX.OQ reported quarterly adjusted earnings of $1.04​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 78 cents. The mean expectation of twenty two analysts for the quarter was for earnings of $1.01 per share. Wall Street expected results to range from 97 cents to $1.04 per share.

• Revenue rose 24.4% to $4.72 billion from a year ago; analysts expected $4.65 billion.

• Lam Research Corp's reported EPS for the quarter was $1.03​.

• The company reported quarterly net income of $1.33 billion.

• Lam Research Corp shares had fallen by 12.7% this quarter and lost 12.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 14.5% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy," 8 "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 April 23 at 09:01 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)