By Paul Ziobro

Lam Research issued guidance ranges for its current quarter, with the midpoint above Wall Street expectations.

The Fremont, Calif.-based company, which manufactures and services equipment used to make semiconductors, on Wednesday said it expects revenue between $3.1 billion and $3.7 billion for the fiscal first quarter, which ends Sept. 24. Analysts recently polled by FactSet had expected $3.3 billion.

Lam forecast adjusted per-share earnings between $5.30 and $6.80 for the same quarter. Analysts had forecast $5.56 a share.

The outlook comes after the company reported better-than-expected results in its fiscal fourth quarter.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

July 26, 2023 16:54 ET (20:54 GMT)

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