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Thu, Jan. 28, 3:44 PM
- Lam Research (LRCX +2.7%) is posting healthy gains after beating FQ2 estimates (moreso on EPS than revenue). FQ3 guidance is for revenue of $1.3B (+/- $75M) and EPS of $1.07 (+/- $0.10), below a consensus of $1.39B and $1.31. However, though revenue is expected to drop Q/Q, shipments are expected to rise to $1.43B (+/- $75M) from FQ2's $1.29B.
- Also: On the earnings call (transcript), CFO Doug Bettinger provided upbeat FQ4 commentary. "We expect shipments and revenue in the June quarter will be stronger than in the March quarter. With the anticipated strength in shipments, we expect to grow our deferred revenue balances in the first half of 2016. As we sit here today, I expect the second half of the year will have a stronger top line than the first half due to investments in leading-edge foundry and logic." That fits with ASML's upbeat calendar Q2 commentary.
- Lam's FQ2 results, earnings release
Wed, Jan. 27, 4:09 PM
Tue, Jan. 26, 5:35 PM| Tue, Jan. 26, 5:35 PM | 26 Comments
Oct. 21, 2015, 5:52 AM
- Lam Research (NASDAQ:LRCX): FQ1 EPS of $1.82 beats by $0.11.
- Revenue of $1.6B (+39.1% Y/Y) in-line.
- Shares +1.74% PM.
Oct. 20, 2015, 5:35 PM| Oct. 20, 2015, 5:35 PM | 7 Comments
Jul. 29, 2015, 6:19 PM
- In addition to beating FQ4 estimates, Lam Research (NASDAQ:LRCX) is guiding for FQ1 revenue of $1.6B (+/- $75M) and EPS of $1.70 (+/- $0.10), above a consensus of $1.41B and $1.38.
- Financials: GAAP gross margin was 43.3% vs. 43.1% in FQ3 and 44.6% a year ago; non-GAAP GM was also 45.5%. Excluding a $79.4M goodwill impairment charge, operating expenses rose 9% Y/Y to $371M. $74.3M was spent on buybacks. Lam ended FQ4 with $4.2B in cash/investments, and $2.4B in debt/capital leases.
- LRCX +1.7% AH to $79.00.
- FQ4 results, PR
Jul. 29, 2015, 4:09 PM
- Lam Research (NASDAQ:LRCX): Q2 EPS of $1.50 beats by $0.03.
- Revenue of $1.48B (+18.4% Y/Y) beats by $20M.
Jul. 14, 2015, 6:27 PM
- At an investor meeting held at the chip industry's annual Semicon West conference, Lam Research (NASDAQ:LRCX) provided calendar 2015/2016 revenue and EPS target ranges of $5.8B-$6.3B and $6.00-$6.75. The FY16 (ends June '16) consensus is at $5.73B and $5.78.
- 2017 revenue/EPS target ranges are at $6.5B-$7B and $7.00-$7.75. For 2018, they're at $7B-$7.5B and $8.00-$8.75.
- As expected, Lam continues to argue its strong exposure to chip manufacturing tech "inflections" (e.g. 3D NAND, FinFET logic ICs, DRAM multi-patterning, next-gen chip packaging) will allow it to outgrow the industry: The company forecasts a ~32% share of wafer fab equipment (WFE) spend in 2018, up from 29% in 2015 and 26.5% in 2013.
- Lam estimates it had a high-30s 2014 share of the deposition equipment market, a low-mid 50s share of the etch equipment market, and a high-teens share of the clean equipment market. Deposition and etch share gains were recorded last year.
- Shares rose 0.7% in regular trading, matching the Nasdaq's gain.
- Investor meeting slides (.pdf)
- Earlier: Applied Materials' FY18 forecasts
Apr. 20, 2015, 4:52 PM
- In addition to beating FQ3 estimates, Lam Research (NASDAQ:LRCX) is guiding for FQ4 revenue of $1.46B (+/- $50M) and EPS of $1.46 (+- $0.07), above a consensus of $1.39B and $1.35.
- Shipments are expected to rise to $1.6B (+/- $50M) from FQ3's $1.497B (+20% Q/Q and topping a guidance midpoint of $1.45B). CEO Martin Anstice sings a well-known refrain. "Our differentiated products and services are directly addressing the market driving technology inflections of multi-patterning, 3D device architecture and advanced packaging."
- The deferred revenue balance rose 30% Q/Q to $485.2M. Gross margin (non-GAAP) fell 70 bps Q/Q and 80 bps Y/Y to 44.7%. Operating expenses rose 11% Y/Y to $355M. $124.9M was spent on buybacks.
- Shares have risen to $77.52 AH; the all-time high is $85.70. Goldman's table-pounding was well-timed.
- Peers are getting a lift: Applied Materials (NASDAQ:AMAT) is up 1.6% AH to $22.11, and KLA-Tencor (NASDAQ:KLAC) is up 1.1% to $59.20. KLA reports on Thursday.
- FQ3 results, PR
Apr. 20, 2015, 4:08 PM
- Lam Research (NASDAQ:LRCX): FQ3 EPS of $1.40 beats by $0.10.
- Revenue of $1.39B (+13.0% Y/Y) beats by $20M.
- Shares +5%.
Apr. 19, 2015, 5:35 PM
Jan. 28, 2015, 4:11 PM
- Lam Research (NASDAQ:LRCX): FQ2 EPS of $1.19 beats by $0.06.
- Revenue of $1.23B (+9.8% Y/Y) in-line.
- Shares -0.9%.
Jan. 27, 2015, 5:35 PM| Jan. 27, 2015, 5:35 PM | 4 Comments
Oct. 22, 2014, 5:04 PM
- Though it beat FQ1 EPS estimates and posted in-line revenue, Lam Research (NASDAQ:LRCX) is guiding for FQ2 revenue of $1.23B (+/- $50M) and EPS of $1.12 (+/- $0.07), unfavorable to a consensus of $1.25B and $1.16. Shipments are expected to total $1.24B (+/- $50M).
- Gross margin rose 140 bps Y/Y in FQ1 to 43.9%, and op. margin 420 bps to 14.6%. A GM of 45.5% (+/- 1%) is expected in seasonally strong FQ2.
- Shipment growth by geography: U.S. (inc. Intel) +25%, Korea (inc. Samsung/SK Hynix) +16%, Taiwan (inc. TSMC) +21%, Japan +11%, China +8%, SE Asia +11%, Europe +8%.
- FQ1 results, PR
Oct. 22, 2014, 4:14 PM
- Lam Research (NASDAQ:LRCX): FQ1 EPS of $0.96 beats by $0.03.
- Revenue of $1.15B (+12.7% Y/Y) in-line.
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