Lam Research Corp reported record revenue, operating margin, and earnings per share for its fiscal fourth quarter ending in June 2026.
These results signal a strong recovery and expansion in the semiconductor equipment market, specifically within the memory sector. The growth highlights the increasing demand for advanced chip manufacturing capabilities as the industry evolves.
The company said the record performance was due to a sharp increase in NAND-related revenue [2]. Additionally, the Customer Support Business Group continued to see growth, contributing to the overall financial strength of the NASDAQ-listed company [2].
Following the announcement, a Seeking Alpha analyst maintained a Strong Buy rating for the company. The analyst revised the price target to $455 per share [1]. This projection is supported by a forward non-GAAP earnings per share estimate of $9 [1].
"I maintain my Strong Buy rating Lam Research (LRCX) with a revised price target of $455 per share," the analyst said [1].
The record figures for the June 2026 quarter were announced after the market closed on Wednesday [2, 3]. The surge in NAND-related products suggests that semiconductor manufacturers are investing heavily in high-capacity storage solutions to meet global data needs.
Lam Research provides the essential equipment used to create the wafers that power modern electronics. The continued expansion of the Customer Support Business Group indicates a growing installed base of equipment that requires ongoing maintenance and optimization [2].
“Lam Research reported record revenue, operating margin, and earnings per share for its June 2026 quarter.”
The record performance of Lam Research reflects a broader trend of capital expenditure increases in the semiconductor industry. By hitting record margins and revenue through NAND-related products, the company is positioning itself as a primary beneficiary of the shift toward higher-density memory storage. The reliance on the Customer Support Business Group also provides a recurring revenue stream that hedges against the cyclical nature of chip equipment sales.
