Lam Research falls after Q1 results
LRCX•Lam Research shares fell 6.1% after the bell. First-quarter revenue was $8.22 billion and adjusted earnings were $2.20 per share, both slightly above analyst estimates.
1. Quarterly results
Lam Research reported first-quarter revenue of $8.22 billion, slightly above analysts’ estimate of $8.15 billion. Adjusted earnings per share were $2.20, compared with an estimate of $2.18.
2. Shares and analyst ratings
Shares fell 6.1% after the bell. Earnings-per-share growth slowed to 21% quarter over quarter. Thirty of 34 analysts rated the stock “strong buy” or “buy,” while four rated it “hold”; the median price target was $380.
