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Stock impact report

Lam Research Falls on Quarterly Revenue Miss [TheStreet.com]

Lam Research Corporation (LRCX) 
Last lam research corporation earnings: 4/22 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.lamresearch.com
Company Research Source: TheStreet.com
Shares of chip equipment maker Lam Research(LRCXGet ReportThe Fremont, Calif-based company reported earnings of $3.98 per share on revenue of $2.5 billion. Analysts were expecting the company to report earnings of $3.98 per share on revenue of $2.58 billion.“Extraordinary efforts by Lam’s global teams helped to mitigate the operational impact of the COVID-19 pandemic, resulting in solid financial performance in the March quarter,” said CEO Tim Archer.Lam Research shares dropped 4.7% to $259 per share after hours after rising 11.6% during the regular session. Year to date, the stock is down nearly 8% with most of the losses happening since late March.Last month,the company withdrew its third quarter guidanceThe company said that it had $5.6 billion in cash on hand at the end of March after it drew down $1.25 billion from its revolving credit facility.Prior to the pandemic, Lam Research was facing pressure, along with the rest of the semiconductor segment, due to reports that the U.S. C Show less Read more
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