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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Harlan Sur | JPMorgan | 11 questions · 0% challenging |
| Stacy Rasgon | Bernstein | 10 questions · 60% challenging |
| Krish Sankar | TD Cowen | 10 questions · 10% challenging |
| CJ Muse | Cantor Fitzgerald | 10 questions · 0% challenging |
| Tim Arcuri | UBS | 10 questions · 0% challenging |
| Atif Malik | Citigroup | 9 questions · 22% challenging |
| Srini Pajjuri | RBC Capital Markets | 8 questions · 13% challenging |
| Vijay Rakesh | Mizuho Securities | 8 questions · 0% challenging |
| Vivek Arya | Bank of America | 7 questions · 29% challenging |
| Blayne Curtis | Jefferies | 7 questions · 14% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 analyst | 11 questions · 0% challenging |
| UBS | 1 analyst | 10 questions · 0% challenging |
| TD Cowen | 1 analyst | 10 questions · 10% challenging |
| Cantor Fitzgerald | 1 analyst | 10 questions · 0% challenging |
| Bernstein | 1 analyst | 10 questions · 60% challenging |
| Citigroup | 1 analyst | 9 questions · 22% challenging |
| Bank of America | 2 analysts | 9 questions · 22% challenging |
| Goldman Sachs | 2 analysts | 8 questions · 0% challenging |
Reporting soon: earnings call Wednesday, Oct 21
A pre-earnings brief is ready for LRCX: the setup, what peers and partners said this season, and which analysts to watch.Reading it is a Tellvest Pro feature.
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Calendar quarter Q1 2026Earnings call Apr 22, 2026
FY2026 Q3 in brief
Revenue surged 24% year-over-year with record diluted EPS of $1.47 above the high end of guidance, as accelerating AI demand drove broad-based strength across NAND, DRAM, and foundry/logic.
Newest quarter FY2026 Q4 is part of Pro · see what Pro adds →
GAAP revenue YoY +23.8% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Lam Research (LRCX), FY2026 Q3: 9/10. Scores: Lam Research’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: LRCX daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2025 Q1 | $4.17B | +19.7% | $0.86 | +28.4% | 48.0% | 30.3% | 26.8% | $1.46B |
| FY2025 Q2 | $4.38B | +16.4% | $0.92 | +27.8% | 47.4% | 30.5% | 27.2% | $853M |
| FY2025 Q3 | $4.72B | +24.4% | $1.03 | +41.1% | 49.0% | 33.1% | 28.2% | $1.02B |
| FY2025 Q4 | $5.17B | +33.6% | $1.35 | +73.1% | 50.1% | 33.7% | 33.3% | $2.38B |
| FY2026 Q1 | $5.32B | +27.7% | $1.24 | +44.2% | 50.4% | 34.4% | 29.5% | $1.59B |
| FY2026 Q2 | $5.34B | +22.1% | $1.26 | +37.0% | 49.6% | 33.9% | 29.8% | $1.67B |
| FY2026 Q3Selected | $5.84B | +23.8% | $1.45 | +40.8% | 49.8% | 35.0% | 31.2% | $810M |
| FY2026 Q4 | $6.72B | +30.0% | $1.81 | +34.1% | 51.7% | 37.4% | 33.9% | $822M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Revenue surged 24% year-over-year with record diluted EPS of $1.47 above the high end of guidance, as accelerating AI demand drove broad-based strength across NAND, DRAM, and foundry/logic. WFE outlook was raised to $140 billion with upside bias and NAND conversion spending was pulled forward to 2027. Record CSBG revenue exceeded $2.1 billion while gross margin expansion exceeded the long-term model.
Demand | Revenue Growth | Capex Investment | Competitive Dynamics | Regulation Policy | Trade Tariffs | Supply Chain | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 5 | 4 | 2 | 3 | 1 | 4 | 1 | |
| 2025Q2 | 6 | 7 | 2 | 2 | 3 | 1 | 2 | |
| 2025Q3 | 4 | 5 | 3 | 1 | 2 | 5 | 3 | 1 |
| 2025Q4 | 3 | 7 | 1 | 3 | 5 | 2 | 2 | |
| 2026Q1 | 6 | 3 | 6 | 1 | 2 | 2 | ||
| 2026Q2 | 6 | 2 | 3 | 4 | 2 | 5 | 2 | |
| 2026Q3 | 14 | 5 | 8 | 2 | 2 | 3 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|---|---|
| Demand | 5 | 6 | 4 | 3 | 6 | 6 | 14 |
| Revenue Growth | 4 | 7 | 5 | 7 | 3 | 2 | 5 |
| Capex Investment | 2 | 2 | 3 | 1 | 6 | 3 | 8 |
| Competitive Dynamics | 3 | 2 | 1 | 3 | 1 | 4 | 2 |
| Regulation Policy | 1 | 3 | 2 | 5 | 2 | 2 | |
| Trade Tariffs | 4 | 1 | 5 | 2 | |||
| Supply Chain | 3 | 2 | 5 | 2 | |||
| Margin | 1 | 2 | 1 | 2 | 2 | 3 |
What LRCX and other companies said about each other on FY2026 Q3 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“especially for those ASML, Applied Materials, Lam Research, et cetera. So, so far, we are very happy with their supportive.”
TSMC names Lam Research among the equipment partners it works closely with and is very happy with their support as it pulls in tools for the high-end CapEx ramp, a positive signal for equipment demand.
“on the follow-up on HBF. I mean are you seeing book SanDisk and Hynix talking about it, I guess, but outside of that, when you look at high bandwidth flash, are you seeing investments or CapEx picking up there”
Analyst notes SanDisk (a Lam memory-maker customer) is discussing high-bandwidth flash, a potential future NAND capex driver.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
LRCX Lam Research | 9 | +23.8% | |
| ADI Analog Devices | 9 | +30.4% | |
| ALAB Astera Labs, Inc. Common Stock | 9 | +93.4% | |
| AMAT Applied Materials | 5 | -2.1% | |
| AMD Advanced Micro Devices, Inc. | 9 | +37.9% | |
| ARM Arm Holdings | 7 | +20.1% | |
| ASML ASML Holding | 9 | +13.3% | |
| AVGO Broadcom Inc. | 9 | +29.5% | |
| CRDO Credo Technology Group Holding Ltd | 10 | +201.5% | |
| INTC Intel Corporation | 6 | +7.2% | |
| KLAC KLA Corporation | 7 | +11.5% | |
| MCHP Microchip Technology | 9 | +35.1% | |
| MPWR Monolithic Power Systems | 10 | +26.1% | |
| MRVL Marvell Technology | 10 | +22.1% | |
| MU Micron Technology, Inc. | 9 | +196.3% | |
| NVDA NVIDIA Corporation | 10 | +73.2% | |
| NXPI NXP Semiconductors | 7 | +12.2% | |
| ON ON Semiconductor | 6 | +4.7% | |
| Q Qnity Electronics, Inc. | 10 | +17.6% | |
| QCOM Qualcomm | 3 | -3.5% | |
| SWKS Skyworks Solutions | 3 | -1.0% | |
| TER Teradyne | 9 | +87.0% | |
| TSM Taiwan Semiconductor Manufacturing Company Limited | 9 | +35.1% | |
| TXN Texas Instruments | 9 | +18.6% |