Lam Research Co. (LRCX) Updates Q2 Earnings Guidance
Lam Research Co. (LRCX) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.38-0.52 for the period.
Shares of Lam Research Co. (LRCX) traded up 0.42% during mid-day trading on Wednesday, hitting $33.58. Lam Research Co. (LRCX) has a one year low of $31.17 and a one year high of $45.48. The company has a market cap of $6.122 billion and a P/E ratio of 24.77.
Lam Research last posted its quarterly earnings results on Wednesday, October 17th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.12. The company’s quarterly revenue was up 33.3% on a year-over-year basis. Analysts expect that Lam Research Co. (LRCX) will post $2.34 EPS for the current fiscal year.
LRCX has been the subject of a number of recent research reports. Analysts at Needham & Company cut their price target on shares of Lam Research from $42.00 to $38.00 in a research note to investors on Monday, October 8th. They now have a buy rating on the stock. On a related note, analysts at Credit Suisse cut their EPS estimates on shares of Lam Research in a research note on Monday. They now have an outperform rating and a $38.00 price target on the stock. Finally, analysts at Citigroup downgraded shares of Lam Research from a buy rating to a neutral rating in a research note to investors on Wednesday, September 19th. They now have a $34.00 price target on the stock, down previously from $39.00.
Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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