Lam Research Corp.
LRCX
Market Cap$103.69B
Close$
Earnings Call Q3 2025
April 23, 2025 - AI Summary
Strong Financial Performance: Lam Research reported revenue of $4.72 billion for the March quarter, an increase of 8% from the previous quarter. Gross margin reached 49%, the highest since the merger with Novelis in 2012, suggesting strong operational efficiencies and a favorable product mix. The company's EPS was $1.04, demonstrating solid profitability.
Positive Outlook for June Quarter: For the June quarter, the company expects revenue to be around $5 billion plus or minus $300 million, with gross margin guidance at 49.5% and operating margin at 33.5%. This forecast reflects continued strength in foundry and NAND sectors, aligning with the company's strategy to outperform overall wafer fab equipment (WFE) spending in the $100 billion range.
NAND Market Dynamics: The upgrade market for NAND is expected to be a significant growth driver, with a focus on technology conversions from 1XX to 256-layer devices. Lam anticipates ongoing demand as a large portion of industry bits remain at 1XX levels. The company is well-positioned to capture spending through upgrades of its existing tools while also introducing new tools to support advanced stacking.
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$50.05
38% downside
Current Fair Value
38% downsideOvervalued by 38% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $103.69 Billion |
|---|---|
| Enterprise Value | $103.41 Billion |
| Dividend Yield | $0.89 (1.09795213422156%) |
| Earnings per Share | $2.91 |
| Beta | 1.65 |
| Outstanding Shares | 1,283,779,000 |
Return
| Return on Equity | - |
|---|---|
| Return on Assets | - |
| Return on Invested Capital | - |
Valuation & Multiples
| P/E Ratio | 22.34 |
|---|---|
| PEG | 59.14 |
| Price to Sales | 6.21 |
| Price to Book Ratio | 11.54 |
| Enterprise Value to Revenue | 6.03 |
| Enterprise Value to EBIT | 23.02 |
| Enterprise Value to Net Income | 22 |
| Total Debt to Enterprise | 0.05 |
| Debt to Equity | 0.54 |
Revenue Sources
No data
Insider Trades
ESG Score
No data
About Lam Research Corp.
10,700 employees
CEO: Timothy Archer Lam Research Corporation is an American corporation that engages in the design, manufacture, marketing, and service of semiconductor processing equipment used in the fabrication of integrated circuits. Its products are used primarily in ...