Overview

* Lam fiscal Q1 revenue grows 3% qtr/qtr, beating analyst expectations

* Adjusted EPS for fiscal Q1 beats analyst expectations

* Company highlights AI-driven semiconductor innovations as key performance driver

Outlook

* Lam Research ( LRCX ) forecasts revenue at $5.20 bln +/- $300 mln for the quarter ended December 28, 2025

* Company expects gross margin at 48.4% +/- 1% for the quarter ended December 28, 2025

* Lam sees Q2 net income per diluted share at $1.15 +/- $0.10

Result Drivers

* AI INNOVATIONS - Lam attributes growth to AI-driven semiconductor manufacturing innovations

* SYSTEMS REVENUE GROWTH - Increase in systems revenue, including deposition and etch equipment, contributed to revenue growth

* CASH FLOW INCREASE - Cash flow from operating activities increased, supporting capital return and expenditures

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 Beat $5.32 $5.23

Revenue bln bln (22

Analysts

)

Q1 Beat $1.26 $1.22

Adjusted (22

EPS Analysts

)

Q1 EPS $1.24

Q1 50.60%

Adjusted

Gross

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 24 "strong buy" or "buy", 10 "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 ( LRCX ) is $138.50, about 4.7% below its October 21 closing price of $145.04

* The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 24 three months ago

Press Release:

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(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.)