Semiconductor equipment maker Lam Research (NASDAQ:LCRX) will be reporting earnings tomorrow after market close. Here's what investors should know.
Last quarter Lam Research reported revenues of $5.07 billion, up 17.8% year on year, beating analyst revenue expectations by 3.36%. It was a strong quarter for the company, with a beat on the bottom line and very optimistic guidance for the next quarter.
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This quarter analysts are expecting Lam Research's revenue to grow 20.2% year on year to $5.08 billion, in line with the 22.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $10 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
With Lam Research being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for semiconductor stocks, but there has been positive sentiment among investors in the semiconductors segment, with the stocks up on average 17.5% over the last month. Lam Research is up 21.1% during the same time, and is heading into the earnings with analyst price target of $478.90, compared to share price of $491.03.
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The author has no position in any of the stocks mentioned.