Lam Research Shares Close 37% Below June 30 52-Week High Ahead of Earnings

Lam Research shares closed at $277.46 on Oct. 15, 36.7% below their $438.50 June 30 52-week high, as the chip-equipment maker approaches its next earnings call. Lam makes wafer-fabrication equipment and provides related services to semiconductor manufacturers. It reported $6.722 billion in revenue for the quarter ended June 28, up from $5.171 billion a year earlier. The increase was about 30%, and diluted GAAP earnings were $1.81 per share. For the quarter ended Sept. 27, Lam forecast revenue of $8.10 billion, with a range $400 million above or below that midpoint. The company described the forecast midpoint as more than 20% above June-quarter revenue. The $6.722 billion figure is reported revenue for June, while the September-quarter figure is guidance. Lam’s growth outlook includes memory production and advanced packaging.

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