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Technology Stocks : Semi Equipment Analysis

SOXX 303.84

+1.3%

Dec 22 4:00 PM EST

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To: Return to Sender who wrote (83142)

4/24/2019 4:44:17 PM

From: Sam

1 Recommendation Read Replies (1) of 95622

Lam Research stock gains after big earnings beat
MARKETWATCH 4:41 PM ET 4/24/2019

Symbol Last Price Change

LRCX	195.44	+0.66 (+0.34%)
AMAT	44.46	+0.63 (+1.44%)
KLAC	125.64	+2.48 (+2.01%)
QUOTES AS OF 04:00:00 PM ET 04/24/2019

Shares of Lam Research Corp.(LRCX) were up nearly 5% in after-hours trading Wednesday after the company posted a big earnings beat for its March quarter. The company posted net income of $547 million, or $3.47 a share, down from $779 million, or $4.33 a share, a year earlier. Adjusted earnings per share fell to $3.70 from $4.79 but came in ahead of the FactSet consensus, which called for $3.38. Revenue fell to $2.44 billion from $2.89 billion a year ago and came in a bit above the consensus estimate of $2.4 billion. For the June quarter, Lam expects revenue of $2.215 billion to $2.485 billion and adjusted earnings per share of $3.20 to $3.60. Analysts had been modeling revenue of $2.31 billion and EPS of $3.38. Shares of peers Applied Materials Inc.(AMAT) and KLA-Tencor Corp.(KLAC) were up 2.7% and 1.5%, respectively, in the aftermarket. Lam's results came as the PHLX Semiconductor Index closed at a sixth-straight record high. Lam shares have gained 44% so far this year, as the S&P 500 has risen 17%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

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