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UPDATE 1-Lam Research tops profit estimates on memory chip boom

(Adds shipments, share price)

Jan 24 (Reuters) - Chip equipment manufacturer Lam Research Corp's quarterly profit and revenue topped analysts' forecasts, as chipmakers splurged on its machinery to make the most of rising semiconductor prices and booming demand.

Fremont, California-based Lam's shares, which climbed 74 percent last year, rose 3.2 percent in after-hours trading on Wednesday.

The stock soared last year amid robust demand for memory chips, which are used in everything from smartphones to fitness trackers.

Lam said its shipments rose nearly 37 percent year-over-year in the second quarter ended Dec. 24.

The company recorded a quarterly net loss of $10 million or 6 cents per share, compared to a profit of $332.8 million or $1.81 per share in the year-ago quarter, due to a $757 million one-time charge related to new U.S. tax laws.

Excluding the charge and other items, Lam posted a profit of $4.34 per share, ahead of analysts' average estimate of $3.68 per share, according to Thomson Reuters I/B/E/S.

Revenue rose 37 percent to $2.58 billion and edged past analysts' expectations of $2.57 billion. (Reporting by Munsif Vengattil in Bengaluru; editing by Sai Sachin Ravikumar)