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Technology Stocks : Semi Equipment Analysis
SOXX 309.40+1.0%Dec 5 4:00 PM EST
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From: Sam4/22/2020 5:03:20 PM
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Lam reports EPS beat, expects strong demand
Apr. 22, 2020 4:17 PM ET|About: Lam Research Corporation (LRCX)|By: Brandy Betz, SA News Editor

Lam Research (NASDAQ: LRCX) r eports Q3 results for the period ending on March 29 that beat EPS estimates and narrowly missed on revenue.

Adjusted gross margin was 46.3% versus last year's 45.1%. Operating margin was 26.9%.

Cash and equivalents totaled $5.6B at the end of the quarter, primarily due to a $1.25B credit facility draw down and $541.4M of cash from operating activities.

Coronvirus comments: Management notes the limited visibility going forward but says customer demand "remains strong."

Earnings call starts at 5 PM with a webcast here.

Press release.

Lam shares are down 4.6% after hours after closing today up 11.6%.

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