Lam Research betters Q3 expectations; stock surges

Lam Research (NASDAQ: LRCX) surpasses third quarter 2019 earnings and revenue estimates. Adjusted earnings of $3.70 and revenue of $2.44 billion beat analysts’ views of earnings of $3.38 per share and revenue of $2.4 billion for the March quarter. Lam Research stock rose 5% during after-hours of trading.

For the quarter ending June 30, 2019, the Fremont, California-based semiconductor firm expects earnings per share to be $3.31, plus or minus 20 cents on a GAAP basis, and earnings per share to be $3.40, plus or minus 20 cents on a non-GAAP basis. Revenue is touted to be $2.35 billion, plus or minus $150 million for the June quarter.

“Lam’s March quarter results demonstrate strong execution in a challenging near-term industry environment,” said CEO Timothy Archer.

The company paid a quarterly dividend of $1.10 per share on April 10, 2019, to shareholders of record as of March 20, 2019.

The semiconductor industry, which was battered in 2018 by the trade war between the US and China, the fear of global economy slow down, and the crash in cryptocurrency, bounced back in 2019. This is evidence by the fact that the Philadelphia Semiconductor Index increased 37% in 2019.

LRCX stock, which inched up 0.34% to $195.44 when market closed today. had gained 44% since beginning of this year and 5% in the past 12 months.

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