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With a market cap of $77.3 billion, Lam Research Corporation (LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. The Fremont, California-based company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits.
The semiconductor equipment maker is expected to unveil its fiscal Q3 2025 earnings results after the market closes on Wednesday, Apr. 23. Ahead of this event, analysts expect Lam Research to report adjusted earnings of $1 per share, up 28.2% from $0.78 per share in the previous year's quarter. It has surpassed Wall Street's bottom-line estimates in the past four quarters. In Q2 2025, the company exceeded the consensus EPS estimate by 4.6%.
For fiscal 2025, analysts expect LRCX to report adjusted EPS of $3.73, a 24.8% increase from $2.99 in fiscal 2024.
LRCX stock has slumped 37.7% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 4.2% drop and the Technology Select Sector SPDR Fund (XLK) 12.8% decline over the same period.
Shares of Lam Research surged 7.4% following its stronger-than-expected Q2 2025 results on Jan. 29. Adjusted EPS came in at $0.91, exceeding the consensus estimate of $0.87. Revenue also beat expectations, reaching $4.4 billion versus the forecasted $4.3 billion. Further boosting investor sentiment, LRCX issued an upbeat Q3 outlook projecting revenue of around $4.7 billion and adjusted EPS of $1 (±$0.10), both well ahead of Street estimates, driven by growing AI-driven demand for advanced semiconductor equipment.
Analysts' consensus rating on LRCX stock is moderately optimistic, with a "Moderate Buy" rating overall. Out of 29 analysts covering the stock, opinions include 19 "Strong Buys," two "Moderate Buys," and eight "Holds.” Its mean price target of $96.35 suggests a 59.9% upside potential from current price levels.
