LRCX Inventory: Lam Analysis Posts Beat-And-Elevate Report

Semiconductor gear maker Lam Analysis (LRCX) late Wednesday beat Wall Avenue’s targets for the September quarter and guided greater for the present interval. LRCX inventory rose in prolonged buying and selling.

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The Fremont, Calif.-based firm earned an adjusted $10.42 a share on gross sales of $5.07 billion in its fiscal first quarter ended Sept. 25. Analysts polled by FactSet anticipated Lam earnings of $9.57 a share on gross sales of $4.92 billion. Within the year-earlier interval, Lam earned an adjusted $8.36 a share on gross sales of $4.3 billion.

In after-hours buying and selling on the inventory market as we speak, LRCX inventory climbed 1.6% to 335.25. Throughout the common session Wednesday, LRCX inventory rose 2.5% to shut at 330.08.

Earnings report particulars to observe.

Lam Analysis offers wafer fabrication gear and companies to the semiconductor business. It makes deposition, etch and cleansing methods for pc chip manufacturing.

LRCX inventory ranks No. 12 out of 29 shares in IBD’s semiconductor gear business group, in line with IBD Inventory Checkup. It has a subpar IBD Composite Ranking of 41 out of 99.

Observe Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on shopper know-how, software program and semiconductor shares.

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