Lam Research Corp reports results for the quarter ended June 30 - Earnings Summary

• Lam Research Corp LRCX.OQ reported quarterly adjusted earnings of $1.33​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 81 cents. The mean expectation of twenty three analysts for the quarter was for earnings of $1.21 per share. Wall Street expected results to range from $1.20 to $1.25 per share.

• Revenue rose 33.6% to $5.17 billion from a year ago; analysts expected $5.01 billion.

• Lam Research Corp's reported EPS for the quarter was $1.35​.

• The company reported quarterly net income of $1.72 billion.

• Lam Research Corp shares had risen by 1.6% this quarter and gained 37.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.5% 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 26 "strong buy" or "buy," 7 "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 $100.00, about 1.1% above its last closing price of $98.94

This summary was machine generated from LSEG data July 30 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)