LRCX Stock Recent News
LRCX LATEST HEADLINES
Lam Research Corporation (NASDAQ:LRCX ) Q3 2024 Earnings Conference Call April 24, 2024 5:00 PM ET Company Participants Ram Ganesh - Investor Relations Timothy Archer - President and Chief Executive Officer Doug Bettinger - Executive Vice President and Chief Financial Officer Conference Call Participants Krish Sankar - TD Cowen Timothy Arcuri - UBS Harlan Sur - JPMorgan Chase & Co. Srinivas Pajjuri - Raymond James & Associates Christopher Muse - Cantor Fitzgerald & Co. Atif Malik - Citigroup Toshiya Hari - Goldman Sachs Group Joseph Moore - Morgan Stanley Stacy Rasgon - Sanford C. Bernstein & Co. Vivek Arya - Bank of America Merrill Lynch Christopher Caso - Wolfe Research Brian Chin - Stifel, Nicolaus & Company Operator Good day, everyone.
Lam Research (LRCX) came out with quarterly earnings of $7.79 per share, beating the Zacks Consensus Estimate of $7.26 per share. This compares to earnings of $6.99 per share a year ago.
The semiconductor equipment company reported revenue of $3.8 billion, up 0.9% from a year earlier.
Lam Research reported quarterly revenue above Wall Street expectations on Wednesday, as chipmakers ordered more of its equipment used to manufacture semiconductors for artificial intelligence applications.
Here we take a sneak peek into how these semiconductor stocks - LRCX, SLAB, MXL and PI - are poised ahead of their earnings releases.
Lam Research (LRCX) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
In a noteworthy market shift, the semiconductor sector, led by Nvidia NVDA, has been struggling in recent months, with the broader Philadelphia Stock Exchange Semiconductor Index entering a correction phase, declining more than 10% from its record high in March. The index is down nearly 8.5% in a week.
Recently, Zacks.com users have been paying close attention to Lam Research (LRCX). This makes it worthwhile to examine what the stock has in store.
That price would mean a new all-time high for the semiconductor equipment manufacturer. Almost needless to say, the prognosticator's recommendation on the shares is a buy.
Lam Research (LRCX) reachead $965.04 at the closing of the latest trading day, reflecting a +1.99% change compared to its last close.