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Last updated 3 minutes ago

LRCX·Lam Research Corporation

$.
+. (+.%)
After Hours
High
$328.41
Open
$328.41
Market Cap
399.93B
52W High
$438.50
Low
$313.29
P. Close
$321.94
P/E
59.62
52W Low
$90.94
Fwd P/E
191.22
DailyIQ Est.
$396.97
Technical Score (1D)
59
BUY
News Sentiment
80
BULLISH
Lam Research closed at $306.76, a 2.09 % decline that left it lagging the S&P 500 and underscored a 19.47 % drop over the last month as the semiconductor equipment sector weakens. The company will report earnings on July 29, 2026, with consensus estimates calling for a 27 % year‑over‑year EPS jump and a 29 % revenue rise, so traders will be looking to see if the guidance aligns with its historical performance and the current demand environment. Lam’s recent partnership as a founding member of the AI Materials Foundry signals a strategic push to secure early access to next‑generation semiconductor materials, which could strengthen its competitive edge in advanced packaging and wafer fabrication. The AI Materials Foundry, backed by more than 45 founding members, focuses on rare‑metal supply and next‑generation chip materials, positioning Lam to influence future material supply chains and potentially reduce bottlenecks that have constrained production capacity. Meanwhile, Evercore ISI has raised Lam’s price target to $355 from $300 while maintaining an Outperform rating, reflecting confidence in the company’s growth prospects amid a robust product pipeline and rising demand for advanced semiconductor equipment. The bullish outlook from Evercore comes at a time when AI demand is expected to drive higher utilization rates and margin expansion for Lam’s advanced packaging and wafer fabrication businesses, as highlighted by analysts. Investors should watch the July 29 earnings for evidence of sustained growth, especially how the company navigates supply chain constraints and whether the AI Materials Foundry partnership translates into tangible product enhancements. In the short term, the market will also monitor any updates on the AI Materials Foundry’s progress and potential technology transfer agreements that could accelerate Lam’s equipment development cycle.
Earnings Summary
Lam Research Corporation supplies essential semiconductor manufacturing equipment, focusing on deposition, etch, and cleaning systems that enable integrated circuit fabrication across Asia, Europe, and the United States, positioning it as a key player in the high‑margin semiconductor equipment sector. In the most recent fiscal cycle, Lam posted EPS of $1.27 in Q2 2026 and $1.47 in Q3 2026, both surpassing analyst expectations of $1.1943 and $1.36332 respectively, while revenue rose to $5.34479 billion and $5.84149 billion, narrowly beating estimates of $5.34458 billion and $5.75729 billion; compared to the prior two quarters (Q2 2025 EPS $1.33, revenue $5.17139 billion and Q3 2025 EPS $1.26, revenue $5.32417 billion), the company maintained a modest EPS uptick and continued revenue growth, underscoring a steady acceleration in top‑line performance even as earnings margins remained robust. Historically, Lam has consistently outperformed earnings forecasts, with EPS beats in every quarter reported since Q4 2024, and revenue growth has trended upward year over year, reflecting strong demand for advanced packaging and wafer‑fab tools; the company’s backlog expansion in leading‑edge logic and memory segments further supports this trajectory. Recent market commentary highlights a risk‑off environment and heightened tool‑cost concerns following TSMC’s higher‑than‑expected capital expenditures, prompting investors to scrutinize Lam’s guidance on AI‑related demand and capital‑spending plans; analysts at TD Cowen and Mizuho have raised price targets, citing Lam’s robust positioning in high‑margin AI workloads, while noting potential headwinds from cooling AI memory demand and export‑regulation uncertainty. Going forward, investors should watch for Lam’s next earnings guidance on AI tool demand and capital‑spending trends, monitor backlog updates for insights into long‑term order flow, and assess how the company navigates rising tool costs and macro‑market sentiment, as these factors will be key to sustaining its growth momentum.

EPS

EstBeatMiss
$0.90$1.12$1.34$1.56$1.78Q1'25Q2'25Q3'25Q2'26Q3'26Q4'26
QtrEstActual+/−
Q4'26$1.68 - -
Q3'26$1.36$1.47+7.8%
Q2'26$1.19$1.27+6.3%
Q3'25$1.22$1.26+3.3%
Q2'25$1.21$1.33+10.4%
Q1'25$1.00$1.04+4.1%

Revenue

EstBeatMiss
$4.4B$5.1B$5.8B$6.4B$7.1BQ1'25Q2'25Q3'25Q2'26Q3'26Q4'26
QtrEstActual+/−
Q4'26$6.8B - -
Q3'26$5.8B$5.8B+1.5%
Q2'26$5.3B$5.3B+0.0%
Q3'25 - $5.3B -
Q2'25 - $5.2B -
Q1'25 - $4.7B -
Full Earnings BreakdownEstimates, actuals, guidance, and historical context
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Market Data

LRCX Stock Snapshot

LRCX is currently trading at $323.25, giving Lam Research Corporation a market cap of 399.93B and a P/E ratio of 59.6. Today's range spans $313.29–$328.41, with shares opening at $328.41 and moving up $1.31 (0.4%) from the prior close. DailyIQ's technical score sits at 59/100 (HOLD) with a news sentiment reading of 80/100.

Over the past year LRCX has traded between $90.94 and $438.50 - the current price is +255.5% off the 52-week low and -26.3% from the high. 43 analysts cover the stock with a Buy consensus and a mean 12-month target of $368.26 (range $220.00–$500.00), implying upside of +13.9%.

It's a pause for LRCX: technical score 59/100 (HOLD), sentiment bullish (80/100), price $323.25 (in the middle of its 52-week range). (P/E: 59.6) At 399.93B in Technology market cap, pauses like this often occur when the stock has run ahead of near-term fundamental catalysts and is waiting for earnings or macro data to validate the prior move. Annual range: $90.94–$438.50. The consolidation is the story for now.

Portfolio construction in Technology often uses large-cap names like LRCX as tactical swing positions during neutral phases: cheap enough to overweight, liquid enough to exit quickly, and large enough to provide meaningful sector beta. The current 59/100 (HOLD) at $323.25 (in the middle of its 52-week range) and bullish sentiment (80/100) frame the position as a catalyst play within the $90.94–$438.50 annual range rather than a directional bet.