Shares of semiconductor stocks, including Lam Research Corporation (NASDAQ:LRCX), are trading higher in sympathy with QUALCOMM, Inc. (NASDAQ:QCOM), which reported better-than-expected second-quarter EPS and sales results.
Qualcomm reported fiscal second-quarter revenue of $11.16 billion, which beat the $10.6 billion estimate. The company reported quarterly adjusted earnings of $3.21 per share, which beat the estimate of $2.91 per share…Read More
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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.
According to data from Benzinga Pro, Lam Research is trading higher by 7.01% at $488.82. Lam Research has a 52-week high of $731.85 and a 52-week low of $449.50.
