Lam Research Q4 revenue rises 15%, slightly beats estimates

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

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

Result Drivers

• AI DEMAND - Co said AI-driven demand continues to reshape the semiconductor industry, supporting record results

• TECHNOLOGY LEADERSHIP - Co cited strategic investments and technology leadership as helping customers manage rising manufacturing complexity

Company press release: ID:nPn7djqCxa

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• 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

Reuters Recommended Reads

• July 28 - KLA results beat Wall Street estimates, but shares fall on high investor expectations

• July 28 - Teradyne forecasts upbeat revenue on strong chip equipment demand, shares jump

• July 28 - ASMI lifts 2027 outlook, forecasts third-quarter revenue above estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)