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Semiconductor tools maker Lam Analysis (LRCX) late Wednesday beat Wall Road’s targets for the September quarter and guided larger 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 at present, 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 comply with.
Lam Analysis offers wafer fabrication tools and companies to the semiconductor trade. It makes deposition, etch and cleansing methods for pc chip manufacturing.
LRCX inventory ranks No. 12 out of 29 shares in IBD’s semiconductor tools trade group, based on IBD Inventory Checkup. It has a subpar IBD Composite Ranking of 41 out of 99.
Comply with Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on client know-how, software program and semiconductor shares.
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