LRCX · PEAD → 11

Lam Research reported Q3 FY2026 EPS of $1.47 on 2026-04-22, beating the $1.35 consensus by $0.12 (+8.9%).

Print-day reaction was +2.8% versus the prior close, as the beat drove an immediate move higher through the session. The overnight gap to the T+1 open was a modest -0.19%, suggesting marginal after-hours give-back rather than sustained enthusiasm. Over the following two trading days (T+1 through T+3) the stock drifted +0.35%, a thin continuation that failed to extend the initial earnings pop with any conviction. Cumulative abnormal return of -1.15% versus SPY.US places this firmly in neutral territory; per the PEAD framework, the signal is none, holding through 2026-07-20.