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Lam Research Corporation

LRCX NASDAQ Categories PDF
Technology · Semiconductors · United States · Updated May 11, 12:49pm
$297.01
Price
$371.4B
Market Cap
18,600
Employees
1.82
Beta
Timothy Archer
CEO
Business Description

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.

Business History
Price Overview
Last updated: May 11, 2026 12:49pm (just now)
$297.01
+2.96 (+1.01%)
Day Range
$292.68 – $300.00
52-Week Range
$79.49 – $300.00
50-Day MA
$240.97
200-Day MA
$178.81
Volume
3,128,752.94
Analyst Price Targets
Low $200.00
Consensus $291.17
High $385.00
(115 analysts)
Share Structure
Outstanding 1,250,570,000.00
Float 1,245,506,187.00
Free Float 99.6%
High free float — 99.6% of shares trade freely, ~0.4% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
55.33
Stock Price: $297.01
EPS (Diluted): 4.17
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
12.69
Stock Price: $297.01
Total Equity: $9.86B
Shares: 1,290,142,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
46.36
Market Cap: $371.43B
Total Debt: $4.47B
Cash: $6.39B
EBITDA: $6.34B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$123.6B
Market Cap: $371.43B
Total Debt: $4.47B
Cash: $6.39B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
48.7%
Gross Profit: $8.98B
Revenue: $18.44B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
32.0%
Operating Income: $5.90B
Revenue: $18.44B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
29.1%
Net Income: $5.36B
Revenue: $18.44B
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
65.8%
Net Income: $5.36B
Total Equity: $9.86B
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
42.8%
Operating Income: $5.90B
Tax Rate: 10.1%
Equity: $9.86B
Total Debt: $4.47B
Cash: $6.39B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.21
Current Assets: $14.52B
Current Liabilities: $6.57B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.45
Short-Term Debt: $749.67M
Long-Term Debt: $3.72B
Total Debt: $4.47B
Total Equity: $9.86B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$14.29
Revenue: $18.44B
Shares: 1,290,142,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$7.64
Total Equity: $9.86B
Shares: 1,290,142,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$4.20
Operating CF: $6.17B
CapEx: -$759.19M
Shares: 1,290,142,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.9%
Last Dividend: N/A
Stock Price: $297.01
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $5.36B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares LRCX against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $14.6B $17.2B $17.4B $14.9B $18.4B
Cost of Revenue $7.8B $9.4B $9.7B $7.9B $9.5B
Gross Profit $6.8B $7.9B $7.8B $7.1B $9.0B
Operating Expenses $2.3B $2.5B $2.6B $2.8B $3.1B
Operating Income $4.5B $5.4B $5.2B $4.3B $5.9B
Net Income $3.9B $4.6B $4.5B $3.8B $5.4B
EBITDA $4.9B $5.7B $5.6B $4.9B $6.3B
EPS $2.72 $3.29 $3.33 $2.91 $4.17
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $4.4B $3.5B $5.3B $5.8B $6.4B
Total Current Assets $11.7B $12.3B $13.2B $12.9B $14.5B
Total Assets $15.9B $17.2B $18.8B $18.7B $21.3B
Current Liabilities $3.5B $4.6B $4.2B $4.3B $6.6B
Long-Term Debt $5.0B $5.0B $5.0B $4.5B $3.7B
Total Liabilities $9.9B $10.9B $10.6B $10.2B $11.5B
Total Equity $6.0B $6.3B $8.2B $8.5B $9.9B
Retained Earnings $14.7B $18.5B $22.0B $24.8B $29.0B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $3.6B $3.1B $5.2B $4.7B $6.2B
Capital Expenditure -$349.1M -$546.0M -$501.6M -$396.7M -$759.2M
Free Cash Flow $3.2B $2.6B $4.7B $4.3B $5.4B
Acquisitions (net) $349.1M $0 -$120.0M $0 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$2.7B -$3.9B -$2.0B -$2.8B -$3.4B
Net Change in Cash -$498.3M -$897.2M $1.8B $263.4M $556.9M
Analyst Estimates (Annual)
Metric 2027 2028 2029 2030
Revenue $30.5B
$28.5B – $32.4B
 $35.1B
$35.1B – $35.2B
 $37.7B
$36.1B – $40.4B
 $50.6B
$48.4B – $54.2B
EBITDA $10.1B
$9.5B – $10.8B
 $11.7B
$11.7B – $11.7B
 $12.5B
$12.0B – $13.4B
 $16.8B
$16.1B – $18.0B
Net Income $9.9B
$9.0B – $11.1B
 $10.9B
$9.6B – $13.5B
 $13.3B
$12.5B – $14.5B
 $16.4B
$15.4B – $17.9B
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +17.8% +1.2% -14.5% +23.7%
Gross Profit Growth +15.7% -1.2% -9.3% +27.3%
Operating Income Growth +20.1% -3.8% -17.6% +38.4%
Net Income Growth +17.8% -2.0% -15.1% +40.0%
EBITDA Growth +16.9% -1.3% -13.0% +29.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-05-01 Fernandes Neil J S-Sale 18,170.00 $255.14 $4.6M
2026-04-27 Harter Ava M-Exempt 6,010.00 $77.04 $463,004
2026-04-27 Harter Ava S-Sale 6,010.00 $258.66 $1.6M
2026-04-27 Harter Ava M-Exempt 6,010.00 $77.04 $463,004
2026-03-10 TALWALKAR ABHIJIT Y G-Gift 4,571.00 $0.00 $0
2026-03-06 Rammohan Karthikeyan 0.00 $0.00 $0
2026-03-06 Rammohan Karthikeyan 0.00 $0.00 $0
2026-03-06 Rammohan Karthikeyan 0.00 $0.00 $0
2026-03-06 Rammohan Karthikeyan 8,328.00 $0.00 $0
2026-03-04 Bettinger Douglas R M-Exempt 26,480.00 $98.15 $2.6M
2026-03-04 Bettinger Douglas R M-Exempt 51,270.00 $49.09 $2.5M
2026-03-04 Bettinger Douglas R S-Sale 50,057.00 $224.03 $11.2M
2026-03-04 Bettinger Douglas R M-Exempt 26,480.00 $98.15 $2.6M
2026-03-04 Bettinger Douglas R M-Exempt 51,270.00 $49.09 $2.5M
2026-03-04 Harter Ava S-Sale 1,500.00 $222.66 $333,990
2026-03-02 Bettinger Douglas R M-Exempt 11,710.00 $30.03 $351,686
2026-03-02 Bettinger Douglas R M-Exempt 37,980.00 $54.06 $2.1M
2026-03-02 Bettinger Douglas R S-Sale 40,329.00 $230.22 $9.3M
2026-03-02 Bettinger Douglas R M-Exempt 16,620.00 $59.88 $995,222
2026-03-02 Bettinger Douglas R M-Exempt 37,980.00 $54.06 $2.1M
Dividend History (Last 20)
Date Dividend Declaration Record Payment
2026-03-04 $0.26 2026-02-04 2026-03-04 2026-04-08
2025-12-03 $0.26 2025-11-05 2025-12-03 2026-01-07
2025-09-24 $0.26 2025-08-26 2025-09-24 2025-10-15
2025-06-18 $0.23 2025-05-21 2025-06-18 2025-07-09
2025-03-05 $0.23 2025-02-06 2025-03-05 2025-04-09
2024-12-11 $0.23 2024-11-07 2024-12-11 2025-01-08
2024-09-17 $2.30 2024-08-29 2024-09-17 2024-10-01
2024-06-18 $2.00 2024-05-16 2024-06-18 2024-07-10
2024-03-12 $2.00 2024-02-07 2024-03-13 2024-04-03
2023-12-12 $2.00 2023-11-09 2023-12-13 2024-01-03
2023-09-12 $2.00 2023-08-24 2023-09-13 2023-10-04
2023-06-13 $1.73 2023-05-11 2023-06-14 2023-07-05
2023-03-14 $1.73 2023-02-09 2023-03-15 2023-04-05
2022-12-13 $1.73 2022-11-10 2022-12-14 2023-01-04
2022-09-13 $1.73 2022-08-25 2022-09-14 2022-10-05
2022-06-14 $1.50 2022-05-11 2022-06-15 2022-07-06
2022-03-15 $1.50 2022-02-10 2022-03-16 2022-04-06
2021-12-14 $1.50 2021-11-11 2021-12-15 2022-01-05
2021-09-27 $1.50 2021-08-26 2021-09-28 2021-10-13
2021-06-15 $1.30 2021-05-13 2021-06-16 2021-07-07
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27