LRCX

NASDAQ · Semiconductors

Lam Research Corp

Q: What does Lam Research do?

Lam Research manufactures wafer fabrication equipment used by semiconductor manufacturers to deposit, etch, and clean silicon wafers during chip production. The company's tools are essential for creating the microscopic circuits in advanced processors and memory chips. Revenue comes from equipment sales to foundries like TSMC and memory makers like Samsung, supplemented by service contracts for installation, maintenance, and upgrades that generate recurring income.

Q: Is LRCX stock a good investment?

Lam Research offers exposure to semiconductor capital equipment cycles, with revenue and earnings fluctuating based on chip demand and manufacturing capacity expansion. The company benefits from long-term trends in AI chip demand and advanced node transitions, but faces cyclical downturns when chipmakers cut spending. Valuation swings significantly with the cycle, and the modest dividend yield reflects capital allocation toward R&D and buybacks rather than income.

Q: Who are Lam Research's main competitors?

Applied Materials is the largest semiconductor equipment maker competing across deposition and etch tools, Tokyo Electron rivals Lam in coating and etching equipment, while ASML dominates lithography systems. KLA Corporation competes in process control and inspection equipment. Each company specializes in different fabrication steps, though some overlap exists in deposition and etch technologies.

Q: What makes LRCX stock unique?

Lam Research holds a dominant position in etch equipment, which removes material during chip manufacturing—a critical step that becomes more complex as transistors shrink. The company's technology leadership in advanced etching processes creates high barriers to entry and customer lock-in at leading-edge foundries. This specialization gives Lam pricing power and high margins during industry upcycles when demand for cutting-edge equipment surges.

Q: Where is LRCX trading today?

LRCX last closed at $200.44, up 8.23% in the most recent trading session. Over the past 52 weeks, the stock has traded between a low of $135.50 and a high of $438.50. The current price represents 21% of its 52-week range, which helps investors gauge where the stock sits relative to its recent trading history.

Q: What are analyst ratings for LRCX stock?

Among 40 analysts covering LRCX, the consensus rating is Strong Buy — 35 rate it a buy, 5 hold, and 0 sell. The average price target sits at $279.69, implying 40% upside from the current price. Keep in mind that analyst targets reflect 12-month expectations and can shift quickly after earnings reports or major company events.

Q: How much revenue does Lam Research Corp generate?

Lam Research Corp generated $21.26B in revenue during fiscal year 2026, with $6.65B reaching the bottom line as net income. The net profit margin of 31.3% is strong by most industry standards.

Q: What is the price-to-earnings ratio for LRCX?

LRCX trades at a P/E ratio of 27.38 on trailing earnings of $6.72 per share. That's roughly in line with the broader market average of ~20-25x. Comparing this multiple against Semiconductors sector peers gives better context than the broad market alone, since P/E norms vary significantly across industries.

Q: How has LRCX performed compared to last year?

While LRCX is up over the longer term, recent weakness has pulled back short-term returns. Returns by timeframe: -11.92% (1W), -37.13% (1M), -34.58% (3M), -30.70% (6M), +20.48% (1Y), +8.31% (YTD). Comparing these figures against the S&P 500 and sector benchmarks helps determine whether LRCX is outperforming or lagging the broader market.

S&P 500 Nasdaq 100 Mega-Cap Stocks Blue Chip Stocks Semiconductor Stocks Best Dividend Stocks

$200.44

+15.24 (+8.23%)

As of Nov 8, 9:30 PM ET ·

Day Range $198.07 — $209.20

52W Range $135.50 — $438.50

Performance

1D —

1W -11.92%

1M -37.13%

3M -34.58%

6M -30.70%

1Y +20.48%

YTD +8.31%

Open$208.65

Previous Close$185.20

Day High$209.20

Day Low$198.07

52W High$438.50

52W Low$135.50

Volume—

Avg Volume14.18M

Market Cap231.35B

P/E Ratio27.38

EPS$6.72

SectorSemiconductors

Technical Indicators

Full analysis →

SMA 50 $284.37 Below

SMA 200 $284.01 Below

RSI (14) 27.2 Oversold

Trend Golden Cross Bullish

Analyst Ratings

Strong Buy

40 analysts

35 Buy 5 Hold 0 Sell

Price Target +39.5% upside

Current
$200.44

Target
$279.69

$207.36 $279.69 avg $316.06

Key Financials

	FY 2026	FY 2025	FY 2024
Revenue	21.26B	19.32B	103.20B
Net Income	6.65B	5.44B	14.83B
Profit Margin	31.3%	29.7%	14.4%
EBITDA	7.91B	6.83B	20.13B
Free Cash Flow	—	—	15.81B
Rev Growth	+10.1%	+10.1%	+6.1%
Debt/Equity	0.30	0.30	0.38

Dividend

Dividend Yield1.11%

Annual Dividend$1.01

Payout Ratio17.5%

Frequencyquarterly

Ex-Dividend—

Pay Date—

Recent Insider Activity

All Insiders →

Date	Insider	Type	Shares	Price	Value
Nov 3	Mayer Bethany	Sale	916	$242.59	$222.2K
Oct 26	ARCHER TIMOTHY	Exercise	1,107,366	$30.03	$33.26M
Oct 26	ARCHER TIMOTHY	Sale	1,075,966	$227.02	$244.27M
Oct 26	ARCHER TIMOTHY	Exercise	0	$0.00	—
Sep 10	ARCHER TIMOTHY	Exercise	1,105,966	$30.03	$33.22M

About Lam Research Corp

Lam Research Corp., based in Fremont, California, manufactures and services equipment used in semiconductor fabrication and processing. The company supplies wafer processing systems and related technologies to semiconductor manufacturers. Lam Research is a leading provider of equipment essential to semiconductor production. The company serves global semiconductor manufacturers.

Semiconductors Peers

Symbol	Name	Price	Change	P/E	Mkt Cap
NVDA	NVIDIA Corp	$186.64	+2.78%	22.7	4.38T
AVGO	Broadcom Inc.	$293.69	+0.74%	36.5	1.40T
MU	Micron Technology Inc	$690.00	+5.12%	9.1	773.08B
AMD	Advanced Micro Devices Inc	$449.04	+11.04%	95.4	726.99B
AMAT	Applied Materials Inc	$332.72	+4.22%	27.3	253.36B
INTC	Intel Corp	$56.28	+7.71%	—	294.05B

LRCX Frequently Asked Questions

What does Lam Research do?

Lam Research manufactures wafer fabrication equipment used by semiconductor manufacturers to deposit, etch, and clean silicon wafers during chip production. The company's tools are essential for creating the microscopic circuits in advanced processors and memory chips. Revenue comes from equipment sales to foundries like TSMC and memory makers like Samsung, supplemented by service contracts for installation, maintenance, and upgrades that generate recurring income.

Is LRCX stock a good investment?

Lam Research offers exposure to semiconductor capital equipment cycles, with revenue and earnings fluctuating based on chip demand and manufacturing capacity expansion. The company benefits from long-term trends in AI chip demand and advanced node transitions, but faces cyclical downturns when chipmakers cut spending. Valuation swings significantly with the cycle, and the modest dividend yield reflects capital allocation toward R&D and buybacks rather than income.

Who are Lam Research's main competitors?

Applied Materials is the largest semiconductor equipment maker competing across deposition and etch tools, Tokyo Electron rivals Lam in coating and etching equipment, while ASML dominates lithography systems. KLA Corporation competes in process control and inspection equipment. Each company specializes in different fabrication steps, though some overlap exists in deposition and etch technologies.

What makes LRCX stock unique?

Lam Research holds a dominant position in etch equipment, which removes material during chip manufacturing—a critical step that becomes more complex as transistors shrink. The company's technology leadership in advanced etching processes creates high barriers to entry and customer lock-in at leading-edge foundries. This specialization gives Lam pricing power and high margins during industry upcycles when demand for cutting-edge equipment surges.

Where is LRCX trading today?

LRCX last closed at $200.44, up 8.23% in the most recent trading session. Over the past 52 weeks, the stock has traded between a low of $135.50 and a high of $438.50. The current price represents 21% of its 52-week range, which helps investors gauge where the stock sits relative to its recent trading history.

What are analyst ratings for LRCX stock?

Among 40 analysts covering LRCX, the consensus rating is Strong Buy — 35 rate it a buy, 5 hold, and 0 sell. The average price target sits at $279.69, implying 40% upside from the current price. Keep in mind that analyst targets reflect 12-month expectations and can shift quickly after earnings reports or major company events.

How much revenue does Lam Research Corp generate?

Lam Research Corp generated $21.26B in revenue during fiscal year 2026, with $6.65B reaching the bottom line as net income. The net profit margin of 31.3% is strong by most industry standards.

What is the price-to-earnings ratio for LRCX?

LRCX trades at a P/E ratio of 27.38 on trailing earnings of $6.72 per share. That's roughly in line with the broader market average of ~20-25x. Comparing this multiple against Semiconductors sector peers gives better context than the broad market alone, since P/E norms vary significantly across industries.

How has LRCX performed compared to last year?

While LRCX is up over the longer term, recent weakness has pulled back short-term returns. Returns by timeframe: -11.92% (1W), -37.13% (1M), -34.58% (3M), -30.70% (6M), +20.48% (1Y), +8.31% (YTD). Comparing these figures against the S&P 500 and sector benchmarks helps determine whether LRCX is outperforming or lagging the broader market.