Lam Research CorporationNasdaq: LRCX
Information Technology · Semiconductor Materials & Equipment
$257.03
-0.32%
Vol: 5.4M
Research Digest
Friday, May 1, 2026
Lam Research reported record Q1 2026 revenue and EPS driven by strong AI and memory chip demand, with analyst average price target of $285.94
Lam Research delivered strong Q1 2026 results with record revenue and EPS, driven by accelerating AI adoption and memory chip demand. Consensus estimates point to +28.7% YoY sales growth for the current quarter. The company has 26 Buy ratings and 8 Hold ratings from research analysts, with an average price target of $285.94. However, U.S. export restrictions on China shipments remain a headwind. Stock rose 3.7% on April 30, reaching $257.86.
Previous Market Intelligence
13 daysApr 30Lam Research Q1 earnings beat with 800 bps etch market share gain and 15% June guidance raisePositive▶
Lam Research delivered March-quarter results at the top of guidance with EPS of $1.47 beating consensus and revenue of $5.84B exceeding predictions. The company provided strong June guidance with revenue up 10% and earnings up 15% versus consensus. Lam recorded impressive 800 bps year-over-year market share gains in etch/deposition, the largest WFE segment. Chief Legal Officer insider activity on April 27 sold $1.55M in shares post-exercise. BofA highlighted AI demand and technology upgrades as key growth drivers. However, potential cessation of Hua Hong orders due to US export restrictions poses near-term headwind.
Apr 29Lam Research Q1 Beats on AI Chip Demand; U.S. Export Curbs to Hua Hong Add RiskMixed▶
Lam Research reported strong Q1 FY2026 with revenue of $5.84B (+23.8% YoY, beat by 1.7%) and adjusted EPS of $1.47 (+7.9% beat). Guidance for Q2 points to $6.6B revenue, above consensus. AI-driven chip equipment demand is fueling growth. However, U.S. Commerce restricted shipments to China's Hua Hong, and insider (Chief Legal Officer) sold $1.55M of stock. BofA noted impressive Q1 share gains. Stock fell 3.4% on geopolitical concerns despite strong earnings.
Apr 16Lam Research down 3.4% amid semiconductor sector weakness; Q2 FY26 revenue $5.34B beats guidance on AI-driven demandMixed▶
Lam Research reported Q2 fiscal 2026 revenue of $5.34 billion, surpassing midpoint guidance and growing approximately 22% year-over-year, supported by strong AI infrastructure demand. The company Board approved a quarterly dividend of $0.26 per share. Despite strong fundamentals, LRCX is down 3.4% today as semiconductor equipment stocks retreated following ASML disappointing quarterly update on near-term profitability. The stock is up 17% over the past month amid the AI-fueled semiconductor boom but faces concerns about elevated valuation and Chinese market demand uncertainty. Average analyst price target is $276.80. Earnings report expected April 22, 2026.
Apr 15Lam Research posts strong Q2 2026 results with 22% YoY revenue growth to $5.34B; price target raised to $325 by Lynx EquityPositive▶
Lam Research delivered strong fiscal Q2 2026 earnings with revenue of $5.344 billion, beating expectations and marking 22% YoY growth. Stock surged 90.7% over six months. Lynx Equity raised target to $325; Stifel raised to $300 maintaining Buy. Leadership promoted Sesha Varadarajan to COO. Earnings expected April 22.
Apr 14Lam Research surges on Stifel upgrade ahead of April 22 Q3 earnings with four consecutive beatsPositive▶
Surged 1.4% on April 13 on Stifel upgrade. Four consecutive beats. Fiscal Q3 earnings April 22. All 25 analysts rate Buy or higher.
Apr 13Lam Research soars 20.7% in 7 days; Q2 FY26 beat on AI chip demand; Q3 earnings April 22Positive▶
Lam Research stock up 20.7% (+$45.22) over 7 days, hitting all-time high of $268.23 on April 10; trading at $263.66. Q2 FY26 revenue $5.344B beat expectations with 22% YoY growth. Q3 guidance $5.70B revenue. Q3 earnings call April 22.
Apr 10Lam Research surges 9.5% on AI-driven growth outlook; Susquehanna raises target to $350.Positive▶
Lam Research jumped 9.5% following positive commentary at the Cantor Fitzgerald Conference about AI-driven growth. Susquehanna analyst raised target to $350 while Morgan Stanley increased to $260 with Equal-Weight rating. Q3 FY2026 results scheduled April 22. Revenue projected at $5.344B in Q2 FY2026 with earnings projected to rise 26.6% this year.
Apr 9Lam Research Surges 9.5% on AI Demand and Ceasefire NewsPositive▶
Lam Research jumped 9.5% after strong Cantor Fitzgerald Conference highlights on AI-driven growth and Q2 FY2026 results exceeding expectations with $5.344 billion revenue up 22% year-over-year. The US-Iran ceasefire eased supply chain concerns affecting semiconductor equipment production. Management highlighted firm AI demand, advanced packaging interest, and dry resist technology adoption. The stock benefits from heightened industry-wide investment in AI infrastructure.
Apr 8Lam Research downgraded by Erste Group to Hold amid valuation concerns; stock up 19.2% YTD.Mixed▶
Lam Research stock up 10.4% over 7 days and 19.2% YTD, trading at $224.35. Erste Group downgraded from Buy to Hold on April 2. Earnings projected to rise 26.6% this year, but forward P/E of 41.7x exceeds 5-year median of 22x. 25 analysts average rating Strong Buy with $242.04 target.
Apr 7Lam Research guides Q3 revenue to $5.70B amid four-quarter beat streak; April 22 earnings report awaited.Positive▶
Lam Research posted Q2 revenue of $5.344 billion (beat 2.01%, up 22.14% YoY) with non-GAAP EPS of $1.27 (beat 8.7%). Company guides Q3 2026 revenue to $5.70B with gross margin compression to ~49.0% from 49.6% due to tariff pressures and customer mix. China represented 35% of Q2 revenue (down from 43% in Q1 FY26). Four-quarter beat streak continues; stock down 13% from filing high. Consensus with 27 Buy, 0 Sell ratings projects $274.90 fair value (26% upside). Erste Group downgraded to Hold on April 2. Dividend of $0.26/share approved Feb 5, 2026. Stock trades at $217.44, Q3 earnings April 22.
Apr 6Lam Research Q2 beat; new CEA-Leti partnership on energy-efficient chips.Positive▶
Lam Research Q2 FY2025 beat expectations; new CEA-Leti partnership on energy-efficient chip development. Revenue $18.44B (+23.7% YoY), earnings +40%. AI-driven demand for etch/deposition tools. Recognized as World's Most Ethical Company 2026. 25 Strong Buy ratings, $241.79 target.
Apr 3Lam Research downgraded to Hold by Erste Group on margin risks; New Street Research upgrade sparks intraday rally.Mixed▶
Erste Group downgraded Lam Research from Buy to Hold on April 2, citing increased margin risks, while management guided sales around $5.7 billion with 49% gross margin. New Street Research upgraded on April 1, sparking a sharp intraday rally. Lam Research is benefiting from AI-driven surge in demand for semiconductor processing tools. The company announced leadership transitions including Sesha Varadarajan's promotion to COO. Stock has risen 3.91% in the past 24 hours to $221.11.
Apr 1Lam Research declares $0.26 quarterly dividend with Q2 earnings beat; stock faces semiconductor equipment sector headwinds from AI memory compression.Mixed▶
Lam Research declared a $0.26 quarterly dividend payable April 8, 2026. The company reported Q2 2026 EPS of $1.27, beating estimates of $1.17 by 8.55%. Upcoming Q3 2026 guidance projects EPS of 1.250-1.450. Google's TurboQuant AI memory compression sparked semiconductor equipment sector sell-off impacting LRCX and memory-related stocks. Geopolitical tensions affecting helium supplies and AI competition present concerns. Wall Street analyst consensus is Strong Buy with median price target of $165.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| LRCXLAM | $257.03 | -0.32% | +16.9% | 32.7x | 1.79 | $322.5B |
| AMATAPPLIED | $389.63 | -1.23% | +11.9% | 28.0x | 1.64 | $313.1B |
| KLACKLA | $1,726.75 | -1.35% | +13.7% | 36.3x | 1.44 | $230.0B |
| TERTERADYNE | $345.65 | +0.63% | +8.9% | 36.3x | 1.79 | $53.8B |
| QQNITY | $143.40 | +1.94% | +18.3% | 32.1x | — | $29.5B |
| NVDANVIDIA | $198.66 | -0.46% | +12.3% | 17.8x | 2.33 | $4.85T |
Key Fundamentals
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Price above both MAs — bullish structure.