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Chip Gear Maker Lam Research Tops June-Quarter Targets

Semiconductor equipment vendor Lam Research (LRCX) late Wednesday topped analyst estimates for the June quarter. But LRCX stock fell in extended trading.




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The Fremont, Calif.-based company earned an adjusted $8.09 a share on sales of $4.15 billion in its fiscal fourth quarter ended June 27. Wall Street had expected Lam earnings of $7.59 a share on sales of $4.03 billion, according to FactSet. In the year-earlier period, Lam earned $4.78 a share on sales of $2.79 billion.

In after-hours trading on the stock market today, LRCX stock fell 2.7%, near 617.90. During the regular session Wednesday, LRCX stock rose 2% to 635.

Earnings report details to follow.

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

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