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Lam Research (LRCX) Posts Positive Financial Results; Stock Slips Pre-Market

Thursday, October 21, 2021 08:33 AM | Carl Pettit
Lam Research (LRCX) Posts Positive Financial Results; Stock Slips Pre-Market

Lam Research (LRCX) has just posted its financial earnings report for the period ending on September 26, 2021. The company, which builds equipment used in the semiconductor industry, reported revenue for this period that was up by more than a billion dollars year-over-year.

Pre-market today, Oct. 21,  LRCX stock was trading down by 3.75%.

Billion Dollar Quarterly Profits

While Lam Research has posted billion-dollar-plus quarterly profits for three reporting periods in a row, investors don’t seem to be rewarding the company, with stock prices down a few percentage points the day after the company reported its financial results. This could be in part due to the fact the posted $4.3 billion revenue fell slightly short of market expectations of $4.31 billion.

International Semiconductor Shortages

Lam Research has been performing well during an international semiconductor shortage, reporting record sales and profit. The October 20 earnings report highlighted the company’s record profits. “Driven by strong demand and solid execution, Lam delivered its sixth consecutive quarter of record revenue and earnings per share,” Lam CEO Tim Archer remarked.

Financial Outlook

The firm anticipates revenue between $4.15 billion to $4.65 billion for the company’s second fiscal quarter (the current quarter), which ends in January. Based on these numbers, Lam Research predicts the firm’s adjusted earnings during its second fiscal quarter will fall somewhere between $7.95 to $8.95 per share.

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