(LRCX) - Lam Research Corp. - company more than tripled third-quarter earnings over last year

Lam Research's earnings estimates have dramatically increased since the company beat expectations. This year's numbers have jumped 10% just in the past week. Next year's estimates have increased 12.3% over the past week. The company has exceeded earnings estimates in 13 straight quarters. Nine analysts have raised their numbers for this year, while five have done so for next year. Full Analysis Lam Research Corporation (LRCX) engages in the design, manufacture, marketing, and service of semiconductor processing equipment used in the fabrication of integrated circuits. Its products include etch systems, including dielectric etch products, conductor etch products, the 2300 Versys systems, Lam 2300 process chambers, and resist strip products, as well as cleaning products. These systems are used in the production of a range of advanced logic and memory devices, as well as micro-electromechanical systems applications. The company markets its products and services primarily to companies involved in the production of semiconductors in the United States, Europe, Japan, Korea, and Asia Pacific. The company more than tripled third-quarter earnings over last year. LRCX said net income was $163.9 million, or $1.13 per share. Analysts were predicting earnings per share of $1.02. Revenue for the quarter soared to $604.4 million from $320.9 million for the same period last year and ahead of the average analyst estimate of $593.3 million. New orders for the company increased 13% to $725 million from the second fiscal quarter. "September results reflect another quarter of strong revenue and earnings growth for Lam Research," stated Steve Newberry, Lam Research's president and chief executive officer. "Operating margins and income achieved record levels, and demonstrate the leverage throughout our business model." "In addition, we generated record levels of cash from operations, a consequence of our focus on a disciplined approach to asset management. Clearly, these are excellent results and provide a solid foundation for future opportunities." Earnings estimates have dramatically increased since the company beat expectations. This year's numbers have jumped 10% just in the past week. Next year's estimates have increased 12.3% over the past week. The company has exceeded earnings estimates in 13 straight quarters. Nine analysts have raised their numbers for this year, while five have done so for next year. LRCX is trading at 11.9x this year's estimate of $4.19 per share, well below the long-term growth rate of 17.14%, giving the stock a PEG ratio of 0.69. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home