Why Lam Research Shares Are Falling

Lam Research Corporation LRCX shares are trading lower after the company reported mixed second-quarter earnings results and issued third-quarter EPS guidance below estimates.

Lam Research reported quarterly earnings of $8.53 per share which beat the analyst consensus estimate of $8.51. The company also reported quarterly sales of $4.23 billion which missed the analyst consensus estimate of $4.41 billion by 4%. This is a 22% increase over sales of $3.46 billion in the same period last year.

Lam Research manufactures equipment used to fabricate semiconductors. The firm is focused on the etch, deposition and clean markets, which are key steps in the semiconductor manufacturing process.

Lam Research has a 52-week high of $731.85 and a 52-week low of $481.05.