Lam Research Corp

LRCX: XNAS (USA)

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Lam Research Earnings: We Raise Our Longer-Term Forecast and Our Valuation to $96 From $86

William Kerwin

Jul 31, 2025

Lam's June quarter results came in above the midpoints of management guidance, with revenue rising 34% year over year and 10% sequentially to $5.17 billion. September guidance implies similarly high revenue, but management expects a step down in revenue and margin in the December quarter.

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Lam Research Corp

Lam Research Earnings: We Raise Our Longer-Term Forecast and Our Valuation to $96 From $86

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