LRCX · Lam Research Corp
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Metrics snapshot
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AI Brief
Q4 FY26 earnings call · Jul 29, 2026TL;DR. Lam Research delivered record June-quarter revenue of $6.72B, gross margin and EPS, and guided September revenue of $8.1B with operating margin of 39.5%, while raising its 2026 WFE outlook to the low $150B range and lifting its long-term margin framework toward mid-50% gross / mid-40% operating margins. CSBG posted a third consecutive record quarter and NAND revenue more than doubled sequentially, though China revenue declined and the non-GAAP tax rate is set to rise to mid-teens.
- + Set September-quarter revenue guide of $8.1B, representing more than 20% sequential growth.
- + Raised calendar 2026 WFE outlook to the low $150B range from the prior $140B outlook.
- + Lifted long-term profitability framework to mid-50% gross margin and mid-40% operating margin over the next several years.
- + Record June-quarter results including 52.0% non-GAAP gross margin, 38.4% non-GAAP operating margin, and non-GAAP diluted EPS of $1.82.
- + CSBG posted a third consecutive quarter of record revenue at nearly $2.5B, up 17% sequentially and 43% year-on-year.
- + NAND revenue more than doubled sequentially on conversions to 256-layer and above devices.
- − Mature-node spending in China was down sequentially.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Semiconductor Equipment & Materials — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LRCX
this stock
Lam Research Corp
|
$342.22B | +57.3% | +51.7% | 47.5 | 2.2% |
|
ASML
Asml Holding NV
|
$611.29B | +52.3% | — | — | 0.4% |
|
AMAT
Applied Materials Inc /De
|
$334.24B | +62.4% | -12.6% | 36.4 | 2.0% |
|
KLAC
Kla Corp
|
$220.92B | — | +11.7% | 46.2 | 2.3% |
|
ATEYY
Advantest Corp
|
$140.48B | +57.8% | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LRCX | -9.6% | -12.3% | +27.3% | -10.7% | +57.3% |
| SPY | +0.6% | -0.8% | +18.2% | -0.6% | +11.8% |
| vs SPY | -10.3% | -11.5% | +9.0% | -10.1% | +45.5% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.