Lam Research Analysts Cut Their Forecasts Following Q1 Earnings

Lam Research Corp. (NASDAQ:LRCX) posted upbeat first-quarter fiscal 2027 results after Wednesday’s closing bell.  

Lam Research reported quarterly earnings of $2.20 per share, which beat the consensus estimate of $2.18 by 0.92%, per Benzinga Pro data. Quarterly revenue came in at $8.22 billion, which beat the analyst consensus estimate of $8.15 billion by 0.81%.

"With AI driving higher semiconductor demand and greater device complexity, our focus on operational execution helped Lam deliver record revenue, profit, and earnings per share in the September quarter," said Tim Archer, Lam Research’s CEO.

Lam Research expects second quarter adjusted EPS of $2.18-$2.48, versus the $2.31 analyst estimate, and revenue between $8.2 billion and $9.0 billion, versus the $8.53 billion estimate.

Lam Research shares dipped 11.3% to trade at $231.45 on Thursday.

These analysts made changes to their price targets on Lam Research following earnings announcement.

• Needham analyst Charles Shi maintained the stock with a Buy and lowered the price target from $390 to $290.
• Mizuho analyst Vijay Rakesh maintained the stock with an Outperform rating and lowered the price target from $365 to $360.
• Morgan Stanley analyst Shane Brett maintained the stock with an Overweight rating and lowered the price target from $385 to $339.

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