What's In The Offing For Lam Research's (LRCX) Q1 Earnings?
Zacks Investment Research | Oct 17, 2019 11:46PM ET
Lam Research Corporation (NASDAQ:LRCX) is slated to report first-quarter fiscal 2019 results on Oct 23. In the last reported quarter, the company delivered a positive earnings surprise of 6.47%.
Lam Research’s surprise history has been pretty impressive. The company surpassed estimates in each of the trailing four quarters, with the average being 6.52%.
Let’s see how things are shaping up for this announcement.
Factors to Consider
Lam Research has been witnessing increased adoption rates for 3D NAND technology, FinFETs and multi-patterning. The company has been undertaking cost-reduction activities and density scaling for 3D NAND, as well as new memory technologies. All these factors are likely to have aided Lam Research’s top-line growth in the to-be-reported quarter.
For the quarter to be reported, the company expects revenues to be approximately $2.15 billion (+/- $150 million). The Zacks Consensus Estimate for the same is pegged at $2.15 billion, indicating a decline of 8% from the year-ago quarter.
The company has been facing significant competition in all product and service categories in the semiconductor capital equipment market. This trend most likely continued in the third quarter. Weakness in PCs, which may offset the expansion in the 3D NAND, could have affected its fiscal first-quarter earnings.
Lam Research Corporation Price and EPS Surprise
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