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Lam Research Appoints Rick Tsai as a Member of its Board
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Lam Research Corporation (LRCX - Free Report) recently announced changes at the management level with the appointment of Rick Tsai to its board, effective immediately.
The share price was up 0.14% in after-hours trading.
In his illustrious career, Dr. Tsai served in high financial capacities at reputed organizations. He was chairman and chief executive officer (CEO) at Chunghwa Telecom Co. Ltd. as well as a director at NXP Semiconductors N.V. Also, he had previously served as president, CEO, and a member of the board of Taiwan Semiconductor Manufacturing Company, Limited.
Management believes that Dr. Tsai’s experience in finance and business proficiency will be instrumental in helping the company to achieve its long-term goals.
Stephen Newberry, Lam’s Chairman of the Board, said, “I am pleased to announce the appointment of Dr. Tsai as the member of the Lam Research Board of Directors.” He has substantial technical and operational leadership experience in global business as well as a deep knowledge of the semiconductor industry.
Recent Results & Looking Ahead
Lam Research announced mixed fourth-quarter 2016 results wherein adjusted earnings of $1.80 per share surpassed the Zacks Consensus Estimate by 16 cents. However, revenues of $1.55 billion missed the Zacks Consensus Estimate by approximately 1.18%.
Lam Research issued weaker-than-expected first-quarter fiscal 2017 guidance. The company expects revenues of approximately $1.61 billion (+/- $75 million), below the Zacks Consensus Estimate of $1.63 billion. Also, management expects non-GAAP earnings per share of $1.48 (+/- 10 cents), below the Zacks Consensus Estimate of $1.79 at the mid-point.
To Conclude
Lam Research is a leading global provider of innovative wafer fabrication equipment and services to the semiconductor industry.
The company’s various initiatives, such as the KLA-Tencor Corporation (KLAC - Free Report) acquisition, product enhancements and solid execution are some of the catalysts driving the stock. The company continues to see strong success in the areas of device architecture, process flow and technology inflections. However, persistent decline in the PC market, which is still the most important consumer of DRAMs, the competitive climate and currency effects remain concerns.
The company is expected to report first-quarter fiscal 2017 results on Oct 19.
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Lam Research Appoints Rick Tsai as a Member of its Board
Lam Research Corporation (LRCX - Free Report) recently announced changes at the management level with the appointment of Rick Tsai to its board, effective immediately.
The share price was up 0.14% in after-hours trading.
In his illustrious career, Dr. Tsai served in high financial capacities at reputed organizations. He was chairman and chief executive officer (CEO) at Chunghwa Telecom Co. Ltd. as well as a director at NXP Semiconductors N.V. Also, he had previously served as president, CEO, and a member of the board of Taiwan Semiconductor Manufacturing Company, Limited.
Management believes that Dr. Tsai’s experience in finance and business proficiency will be instrumental in helping the company to achieve its long-term goals.
Stephen Newberry, Lam’s Chairman of the Board, said, “I am pleased to announce the appointment of Dr. Tsai as the member of the Lam Research Board of Directors.” He has substantial technical and operational leadership experience in global business as well as a deep knowledge of the semiconductor industry.
Recent Results & Looking Ahead
Lam Research announced mixed fourth-quarter 2016 results wherein adjusted earnings of $1.80 per share surpassed the Zacks Consensus Estimate by 16 cents. However, revenues of $1.55 billion missed the Zacks Consensus Estimate by approximately 1.18%.
Lam Research issued weaker-than-expected first-quarter fiscal 2017 guidance. The company expects revenues of approximately $1.61 billion (+/- $75 million), below the Zacks Consensus Estimate of $1.63 billion. Also, management expects non-GAAP earnings per share of $1.48 (+/- 10 cents), below the Zacks Consensus Estimate of $1.79 at the mid-point.
To Conclude
Lam Research is a leading global provider of innovative wafer fabrication equipment and services to the semiconductor industry.
The company’s various initiatives, such as the KLA-Tencor Corporation (KLAC - Free Report) acquisition, product enhancements and solid execution are some of the catalysts driving the stock. The company continues to see strong success in the areas of device architecture, process flow and technology inflections. However, persistent decline in the PC market, which is still the most important consumer of DRAMs, the competitive climate and currency effects remain concerns.
The company is expected to report first-quarter fiscal 2017 results on Oct 19.
LAM RESEARCH Price
LAM RESEARCH Price | LAM RESEARCH Quote
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Currently, TripAdvisor has a Zacks Rank #3 (Hold). Better-placed stocks in the same space are Advanced Energy Industries, Inc. (AEIS - Free Report) and NVIDIA Corporation (NVDA - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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