LRCX - Why Lam Research (LRCX) Stock Is Seeing Blue Skies | Benzinga

Lam Research Corporation (NASDAQ:LRCX) shares are trading higher by 4.7% to $993.54 during Thursday's session. Shares of semiconductor stocks are trading higher in sympathy with Micron, which reported better-than-expected second-quarter financial results and issued strong third-quarter guidance.

Micron exceeded revenue expectations, achieving $5.82 billion in revenue. They also surprised analysts with a profit of 42 cents per share, surpassing estimates of a 25 cents per share loss. Operating cash flow notably increased year-over-year to $1.22 billion, but decreased from the previous quarter’s $1.4 billion. However, adjusted free cash flow was negative at $29 million for the quarter…LRCX) Stock Is Seeing Blue Skies>Full story available on Benzinga.com