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Lam Research Corp

NASDAQ: LRCX

Stock price

313.3 USD

(+Infinity%) NaN day

semiconductors

Financial Performance

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5Y price score: 597

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The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.

A score of 100 indicates that the stock did as well as the S&P 500 Index.

A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.

10Y return: 3,492.2%

DATE RANGE:

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    90.9

    52-week range

    438.5

    313.3

    Your model inputs

    Required return / cost of capital
    %
    FCFF terminal growth rate
    %

    Your fair value & Margin of safety

    To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.

    Forecast:

    Valuation

    Free Cash Flow Yield

    Help
    FCF Yield TTM = Trailing Twelve Months free cash flow per share / current market price per shareLearn more

    1.6 %

    Dividend Yield TTM

    0.3 %

    Market cap $

    $ 391,804

    Price / Earnings TTM

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    P/E TTM = current market price per share / Trailing Twelve Months diluted earnings per shareLearn more

    59.1

    Price / Book TTM

    37

    PEG TTM

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    Price/Earnings-to-Growth ratio = P/E TTM divided by most recent annual diluted earnings per share growth rateLearn more

    1.4

    Earnings growth and return

    LTM

    5YR

    10YR

    Total return (price & dividends)

    211.8 %

    438.4 %

    3,492.2 %

    Free cash flow per share growth

    30.2 %

    225.3 %

    1,165.3 %

    Earnings per share growth

    43.1 %

    174.8 %

    1,021.6 %

    Founded: 1,980

    Employees: 17,700

    Business Summary:Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products. It also provides SPEED gapfill high-density plasma chemical vapor deposition products; and Striker single-wafer atomic layer deposition products for dielectric film solutions. In addition, the company offers Flex for dielectric etch applications; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. Further, it provides Coronus bevel clean products to enhance die yield; Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications; and Metryx mass metrology systems for high precision in-line mass measurement in semiconductor wafer manufacturing. The company sells its products and services to semiconductors industry in the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and internationally. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.

    Fair Value Reference Estimate

    Latest Earnings Call Takeaways

    2026 Q3 (Apr 22, 2026)

    1) Strategy & Leadership
    - Lam Research is experiencing strong momentum in 2026, with record revenues and profitability in Q3.
    - The company anticipates a WFE (Wafer Fabrication Equipment) market of $140 billion, up from earlier projections of $135 billion, driven by AI demand.
    - Lam's served available market (SAM) is expected to grow to the mid-30s percentage of WFE, aiming for high 30s in the coming years.
    - The company is focused on R&D and operational efficiency to support growth, with significant investments in technology and manufacturing capabilities.

    2) Financial & Segment Results
    - Q3 revenue reached $5.84 billion, a 24% increase YoY and a 9% sequential rise.
    - Gross margin was 49.9%, and operating margin was 35%, both at the high end of guidance.
    - Customer Support Business Group (CSBG) achieved $2.1 billion in revenue, marking a 25% YoY increase.
    - Foundry accounted for 54% of systems revenue, while memory contributed 39%, with record DRAM revenue at 27% of systems revenue.

    3) Problems / Headwinds
    - Customer down payments have decreased to the lowest level in nearly four years, indicating potential caution in spending.
    - The company anticipates a decline in revenue from China in the upcoming quarter, reflecting a broader trend of global multinationals gaining market share.
    - Reliant's slowdown in mature node spending is impacting overall growth, though advanced services and upgrades remain strong.

    4) Operational or Product Plans
    - Lam is expanding its manufacturing capabilities with a second facility in Malaysia, expected to come online in the second half of the year.
    - The company is investing in advanced packaging solutions, with revenue growth expected to exceed 50% in 2026.
    - Innovations like Dextro cobots and Equipment Intelligence are enhancing productivity and yield for customers, contributing to service growth.
    - The transition to higher layer count NAND and DRAM technologies is driving demand for Lam's advanced tools.

    5) Guidance & Outlook / Investor Angle
    - For Q4, Lam expects revenue of $6.6 billion, gross margin of 50.5%, and operating margin of 36.5%.
    - The company plans to return at least 85% of free cash flow to shareholders, having allocated $800 million for share buybacks in Q3.
    - There is optimism for continued growth in 2027, with discussions around long-term contracts and increased visibility with customers.
    - The transcript lacks specific figures on future WFE growth beyond 2026 and detailed projections for the NAND market.

    Bottom line: Lam Research is well-positioned for continued growth, driven by strong demand in AI and advanced semiconductor technologies, despite some near-term headwinds. The company's strategic investments and operational efficiencies suggest a robust outlook for shareholders.

    Annual Reports, Presentations And IR Contacts

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    Annual report links (10K)
    2025202420232022202120202019201820172016

    Lam Research Corp — Financial Overview, Stock Price, Market Cap

    Lam Research Corp is a company. Founded in 1980. As of July 20, 2026, the company's market capitalization is $391803581000 with a current stock price of $313.30.