Lam Research Q4 revenue rises 15%, slightly beats estimates
LRCX•Outlook
- Lam sees September 2026 qtr revenue at $8.10 bln, plus or minus $400 mln
- Company expects September 2026 qtr gross margin of 52.0% plus or minus 1%
- Lam projects September 2026 qtr diluted EPS of $2.15 plus or minus $0.15
Overview
- Semiconductor equipment maker's Q4 revenue rose 15% q/q, slightly beating analyst expectations
- Adjusted EPS for Q4 beat analyst expectations
- Company cites AI-driven demand and technology leadership as drivers of record results
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q4 Revenue | Slight Beat* | $6.72 bln | $6.66 bln (25 Analysts) |
| Q4 Adjusted EPS | Beat | $1.82 | $1.68 (26 Analysts) |
| Q4 EPS | $1.81 | ||
| Q4 Net Income | $2.28 bln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 29 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell". The average consensus recommendation for the semiconductor equipment & testing peer group is "buy". Wall Street's median 12-month price target for Lam Research Corp is $385.00, about 42.8% above its July 28 closing price of $269.61. The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 33 three months ago.
