Lam Research Rises Ahead of Oct. 21 Earnings Report
The chip equipment maker outperformed major indexes in the latest session as investors look toward its scheduled earnings release.
Lam Research shares rose 2.17% to close at $347.49 in the latest trading session, beating the S&P 500’s 0.73% gain. The Dow advanced 0.49%, while the Nasdaq gained 1.19%.
The stock is up 16.21% over the past month, compared with a 6.36% gain for the Computer and Technology sector and a 0.55% rise for the S&P 500, according to the source.
Investors are watching for Lam Research’s next earnings report, scheduled for Oct. 21. Zacks consensus estimates call for quarterly earnings of $2.17 per share and revenue of $8.12 billion.
Those estimates represent increases of 72.22% for earnings per share and 52.42% for revenue compared with the year-earlier quarter, according to Zacks. For the annual period, its consensus estimates are $9.32 per share in earnings and $34.41 billion in revenue.
Zacks said its consensus estimate for earnings per share had remained unchanged over the past month. The firm’s annual estimates imply growth of 60.41% in earnings per share and 48.1% in revenue from the prior year.
This article was produced with the help of AI technology. Source: Yahoo Finance
