Why Shares of Lam Research Rose 16.6% in July
Shares of Lam Research (NASDAQ: LRCX) surged 16.6% in July, according to data from S&P Global Market Intelligence. The semiconductor equipment manufacturer released its earnings report toward the end of the month, and it handily beat analyst expectations for both revenue and earnings per share. Moreover, management gave quarterly guidance that also exceeded analyst expectations.
In the quarter that ended in June, Lam grew revenue 18.2% year-over-year, with adjusted earnings per share of $4.78, up 20% and trouncing expectations by a whopping $0.73. Furthermore, the company guided for revenue between $2.9 billion and $3.3 billion and EPS of $4.75 to $5.55, compared with the average analyst estimate of $2.72 billion in revenue and $4.12 in EPS.
Image source: Getty Images.
Source Fool.com
