Lam Research Posts Record $8.22B Quarter, Guides December to $8.60B
LRCX sits 77% above its 52-week low of $135.5.
Summary
Lam Research reported record September-quarter revenue of $8.22 billion, up 22% sequentially, with 40.0% GAAP operating margin and $2.19 EPS, and guided the December quarter to $8.60 billion in revenue and $2.33 EPS.
Key Events · Earnings and Guidance · LRCX
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Record $8.22B Quarter, Up 22% QoQ
Revenue of $8.22 billion versus $6.72 billion in the June quarter and $5.32 billion a year ago; systems revenue was $5.73 billion and customer support $2.49 billion.
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Margins Expand, EPS $2.19 GAAP
GAAP gross margin 52.3% (+60 bps QoQ) and operating margin 40.0% (+260 bps QoQ); GAAP diluted EPS $2.19, non-GAAP $2.20, both up 21% sequentially.
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December Guidance Above Current Quarter
Guides revenue to $8.60 billion +/- $400 million, gross margin 52.5% +/- 1%, operating margin 40.5% +/- 1%, and EPS $2.33 +/- $0.15 on 1.253 billion diluted shares.
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Cash Build and Higher Dividend
Operating cash flow of $3.50 billion lifted cash to $7.45 billion; the company spent $1.02 billion on buybacks and $325 million on dividends, and raised the quarterly dividend to $0.33 from $0.26.
Analysis · LRCX · Technology
Lam cleared its own September-quarter guide of $8.1 billion, posting $8.22 billion in revenue — up 22% sequentially and 54% from the year-ago quarter — while operating margin expanded 260 basis points to 40.0%. The December guide of $8.60 billion (+/- $400 million) and EPS of $2.33 (+/- $0.15) points to further sequential growth, with management crediting AI-driven semiconductor demand and device complexity. Cash generation was the standout: $3.50 billion from operations lifted the cash balance to $7.45 billion even as the company returned $1.35 billion through $1.02 billion of buybacks and $325 million of dividends, and raised the quarterly dividend to $0.33 from $0.26. For a company this size, a 22% sequential revenue jump with margin expansion is a meaningful upward revision to the earnings trajectory, not a routine print.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 37.2% of the 984 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.83%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, LRCX was trading at $239.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $326.4B. The 52-week trading range was $135.50 to $438.50. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.