Lam Research Beats March-Quarter Targets, But Stock Falls Late

Chip-gear maker Lam Research (LRCX) late Tuesday topped Wall Street's targets for its fiscal third quarter and guided higher for the current quarter, but shares fell in extended trading.

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Lam shares slid 3% in after-hours trading on the stock market today. During the regular session Tuesday, Lam rose 4.3% to 212.33. Lam is currently ranked No. 35 on the IBD 50 list of top-performing growth stocks.

Lam earned an adjusted $4.79 a share, up 71% year over year, on sales of $2.89 billion, up...

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