LRCX Stock: Lam Research Disappoints With Outlook

Semiconductor equipment vendor Lam Research (LRCX) late Wednesday topped Wall Street’s targets for its fiscal third quarter but disappointed with its outlook for the current period. LRCX stock fell in extended trading.

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The Fremont, Calif.-based company earned an adjusted $6.99 a share on sales of $3.87 billion in the quarter ended March 26. Analysts polled by FactSet had expected earnings of $6.52 a share on sales of $3.82 billion. In the year-earlier period, Lam earned $7.40 a share on sales of $4.06 billion.

In after-hours trading on the stock market today, LRCX stock dropped 0.3% to 489.70. During the regular session Wednesday, LRCX stock slid 0.9% to close at 491.02.

Earnings report details to follow.

LRCX stock is on the IBD Tech Leaders and IBD Big Cap 20 stock lists. Lam Research has a best-possible IBD Composite Rating of 99. That puts it in the top 1% of stocks for performance in the past 12 months.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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