What's Going On With Lam Research Stock After Hours?

Shares of semiconductor equipment manufacturer Lam Research Corp LRCX are moving lower in Wednesday's after-hours session after the company reported fiscal second-quarter financial results.

What Happened: Lam Research said second-quarter revenue was up 4% sequentially to $5.28 billion, which beat average analyst estimates of $5.08 billion, according to Benzinga Pro. The company reported quarterly earnings of $10.71 per share, which beat estimates of $9.96 per share. 

Lam Research said it ended the quarter with $4.8 billion in cash and equivalents, up from $4.6 billion sequentially.

Lam Research expects fiscal third-quarter revenue of $3.8 billion, plus or minus $300 million. The company anticipates third-quarter earnings of $6.50 per share, plus or minus 75 cents per share.

LRCX Price Action: Lam Research has a 52-week high of $615.99 and a 52-week low of $299.59.

The stock was down 2.95% in after-hours at $474 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Lam Research.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsAfter-Hours CenterMoversInformation TechnologySemiconductor Equipmentwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!