Here's Why Lam Research Stock Is Falling

Here's Why Lam Research Stock Is Falling

Lam Research Corporation LRCX shares are trading lower by 3.08% to $494.66 during Wednesday's trading session. Shares of semiconductor companies at large are trading lower in sympathy with Analog Devices, which fell after the company reported third-quarter earnings results.

What Happened?

Analog Devices reported quarterly earnings of $2.52 per share which beat the analyst consensus estimate of $2.43. This represents an increase over earnings of $1.72 per share from the same period last year.

The company also reported quarterly sales of $3.11 billion which beat the analyst consensus estimate of $3.05 billion by 2%. This sales figure represents a 77% increase over sales of $1.76 billion in the same period last year... Read More

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According to data from Benzinga Pro, Lam Research has a 52-week high of $731.85 and a 52-week low of $375.87.

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