LRCX Share: Lam Research publishes mixed quarterly results
Semiconductor equipment worker Lam Investigation (LRCX) on Wednesday reported December quarter results that exceeded usury expectations, however the company lost views regarding sales. It also oriented more ordinary for the present time. LRCX shares were sold in extended trading.
Lam, greedily in Fremont, Calif., earned an adjusted $8.53 a share on sales of $4.23 billion in the closed fiscal second quarter in December. 26. Analysts had predicted Lam earnings of $8.52 per share on sales of $4.42 billion, according to FactSet. On an annual basis, Lam’s profits are up 41%, while sales are up 22%. “Lam delivered a record-breaking financial performance in the year 2021 in a unique strong envelope of wafer manufacturing spend,” Chief Executive Tim Archer said in a singular caution. press warning.
He added: “While supply dungeon conditions worsened towards the end of December and are having short-term impacts on our results, we expect investments in wafer fabrication equipment to increase again in the 2022 fiscal year, leading to another year of tough development for Lam”.
LRCX shares fall on weak outlook
For the current quarter, Lam expects to earn $7.45 adjusted per share on sales of $4.25 billion. Wall Street forecast earnings of $8.72 a share on sales of $4.49 billion.
In after-sales trading today, LRCX shares were down 6% to close to 561. During Wednesday’s steady session, the shares were up 1.4% to close at 596.67. Other chip equipment manufacturers publishing quarterly results on Wednesday included Teradyne (TER) and MKS Instruments (MKSI).
The LRCX shares occupy the tenth place out of 32 shares in the IBD semiconductor equipment industry group, under contract with the IBD Stock Conference. Lam Research has a unique Graduated IBD Rating of 92 out of 99. Teradyne stock ranks sixth and MKS Instruments ranks No. 12 in the gang.