Lam Research ve 4. fiskálním čtvrtletí zvýšil tržby o 30 % na rekordních 6,72 miliardy USD a zisk na akcii o 37 % na 1,82 USD. Růst táhne poptávka po AI čipech, HBM a advanced packaging.
Key Takeaways Lam Research gained 192.8% in 12 months, outpacing its industry and major semiconductor peers.AI chip, HBM and advanced packaging demand is driving equipment needs and 70% packaging growth in 2026.Fiscal Q4'26 revenues hit a record $6.72B as earnings rose 37% and operating margin reached 38.4%. Lam Research Corporation (LRCX - Free Report) has delivered an exceptional run over the past year, with its stock nearly tripling as strong AI-related semiconductor demand drives spending on chipmaking equipment.
LRCX has surged 192.8% over the past 12 months, easily outpacing the Zacks Electronics - Semiconductor industry’s 35.3% growth. The stock has also outperformed major industry peers, including Applied Materials, Inc. (AMAT - Free Report) , Amkor Technology, Inc. (AMKR - Free Report) and Broadcom Inc. (AVGO - Free Report) , which have gained 180.6%, 92.4% and 3.6%, respectively, during the same period.
Lam Research One-Year Price Return performance
Image Source: Zacks Investment Research
Such a massive rally naturally raises an important question: Can Lam Research stock continue to move higher after such a strong run?
LRCX still has upside potential. The stock is more expensive than it was a year ago, but its earnings outlook, exposure to AI infrastructure and strong position in advanced semiconductor manufacturing provide enough support for further gains.
AI Chip Demand Keeps Lam Research on a Strong Growth PathLam Research is an important part of the semiconductor supply chain ecosystem. The company supplies advanced equipment used by leading chipmakers, including Taiwan Semiconductor Manufacturing and Samsung, to manufacture sophisticated semiconductors.
This puts LRCX in a favorable position as AI chip production expands. The development of increasingly powerful AI processors is driving demand for advanced packaging, high-bandwidth memory (HBM) and more complex chip designs. These technologies require advanced etch and deposition equipment, areas in which Lam Research has significant expertise.
The company is also investing in new technologies to strengthen its competitive position. Its ALTUS ALD system is designed to improve manufacturing efficiency through molybdenum-based deposition, while the Aether platform helps chipmakers produce smaller and denser chip structures.
Lam Research expects advanced packaging revenues to grow more than 70% in 2026 after strong growth in 2025. Emerging technologies such as backside power distribution and dry-resist processing could provide additional growth opportunities as chip designs become more complex.
The strength of customer demand is already visible in Lam Research's results. The company has generated more than $5 billion in revenues for five consecutive quarters, including a record $6.72 billion in the latest reported financial results for the fourth quarter of fiscal 2026. The top-line performance consistency is important. It suggests that LRCX's growth is being supported by actual semiconductor investment rather than simply by excitement around AI.
Strong Earnings and Margin Gains Strengthen LRCX’s Bull CaseLam Research's latest financial results provide another reason to remain bullish. The company’s fourth-quarter fiscal 2026 revenues increased 30% year over year to $6.72 billion, beating the Zacks Consensus Estimate by 0.7%. Non-GAAP earnings jumped 37% to $1.82 per share, exceeding the consensus estimate by 7.7%.
Even more encouraging was the improvement in profitability. Non-GAAP gross margin increased 170 basis points year over year to 35% in the fourth quarter. Better pricing, operating efficiencies, scale benefits and a favorable product mix helped drive the improvement.
Non-GAAP operating margin was even stronger, rising 400 basis points to 38.4%. Higher gross margins, an expanded manufacturing footprint in Asia and disciplined cost management all contributed to the gain. This shows the company is not only witnessing growth in revenues but also converting that growth into stronger earnings and better margins.
Wall Street also expects the momentum to continue. The Zacks Consensus Estimate projects fiscal 2027 and 2028 revenues to increase 48.4% and 17.3%, respectively. Earnings per share are expected to grow 60.6% in fiscal 2027 and another 21.6% in fiscal 2028, highlighting the company's attractive long-term earnings potential.
Lam Research's Premium Valuation Looks JustifiableLRCX does trade at a premium. It currently carries a Value Score of D, reflecting its expensive valuation.
Based on forward 12-month earnings, LRCX trades at 31.72X, significantly above the industry average of 13.64X. While that premium may appear expensive at first, it reflects the company's strong earnings outlook, AI-driven growth opportunities and consistent execution.
Lam Research Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
It also trades above industry peers, including Amkor Technology, Broadcom and Applied Materials. Amkor Technology, Broadcom and Applied Materials currently trade at forward 12-month P/E multiples of 17.83, 19.91 and 26.22, respectively.
Conclusion: LRCX Stock Is Still Worth BuyingLam Research's nearly 193% gain over the past year makes the stock look expensive. However, the strong rally does not automatically mean that LRCX has run out of upside.
The company remains deeply tied to some of the strongest trends in semiconductors, including AI chips, HBM and advanced packaging. These trends are translating into record revenues, stronger margins and rapid earnings growth.
So, Lam Research stock is still worth buying despite nearly tripling over the past year.
LRCX currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lam Research zvýšil výhled pro trh wafer fab equipment na nízkých 150 miliard USD z dřívějších 140 miliard USD. Pro čtvrtletí končící v září čeká tržby 8,1 miliardy USD, zhruba o 20 % více než v předchozím čtvrtletí.
If I had to choose one semiconductor stock to buy going into September, Lam Research (LRCX -0.42%) would be near the top of my list. Its seasonal track record is worth paying attention to, but the bigger story is what's happening across the business right now. Demand for chipmaking equipment remains strong, AI investment continues to drive spending, and several of Lam Research's growth areas are starting to come together at the same time.
Data over the past 20 years shows that a buy date of Sept. 9 and a sell date of Jan. 10 produced a geometric average return of 7.46% above the S&P 500. That strategy beat the benchmark index in 17 of 20 periods.
Seventeen out of 20 is a strong hit rate, and it aligns with the broader semiconductor pattern, where a Sept. 22 entry has beaten the index by 5.39% annually over the same span. The market as a whole averages a 0.7% loss in September, with gains only 46% of the time.
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Why does this pattern exist? The seasonal window tracks capital equipment budgeting. Chipmakers finalize their spending plans in the back half of the year, and orders placed during that period convert into revenue over the following quarters. Lam's business responds before the chips those tools produce ever ship.
That cycle is running hot right now. Lam raised its 2026 wafer fab equipment outlook to the low-$150 billion range, up from a prior view of $140 billion. Guidance for the quarter that ends in September calls for $8.1 billion in revenue, which would be roughly 20% sequential growth.
Image source: Getty Images.
What the company does Think of a chip as a skyscraper built one floor at a time. Lam sells the machines that lay down each layer of material and then carve patterns into it. No chips can be manufactured without that step, which is why Lam benefits from all aspects of the AI data center build-out, whether the chip designs come from Nvidia, Broadcom, or a company nobody has heard of yet.
Three parts of the business are working simultaneously right now. The first is NAND flash, and it caught almost everyone off guard. Lam's revenue from that segment more than doubled from the prior quarter as memory-chip makers rushed to upgrade older factories for the enterprise drives that AI data centers keep buying. Here is the part that makes this more than a one-time bump. As NAND chips go from 128 layers to 500 and beyond, manufacturing them gets harder, and Lam's opportunity per wafer doubles along the way. Management believes this upgrade wave will add more than $40 billion in customer spending over the next several years.
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The second is high bandwidth memory, the specialized chips that sit next to all AI accelerators and feed them data. Building HBM means stacking memory dies on top of each other and drilling tiny vertical connections through the silicon so the layers can talk. Lam is a leading provider of equipment for that step. Every HBM stack in every AI system passes through it, so the company gets paid on volume; it does not have to compete chip by chip.
The third piece is the one I find most interesting, because it changes what Lam's customers can do rather than just how much they can make. Its Aether process replaces the old method of spinning liquid chemicals onto a wafer with a dry process done in a vacuum. The result absorbs 3 to 5 times more EUV light and cuts the amount of chemical raw materials being used by 80% to 90%. One of the largest memory makers picked it as the production tool of record for its most advanced DRAM. Akara, Lam's newer etch platform, swaps in a solid-state plasma source that reacts to process changes more than 100 times faster than what came before, which matters when you are cutting features whose sizes are measured in atoms.
None of this shows up in a headline the way a new GPU does. But Lam's equipment is a key layer underneath chip technology, and it gets bought first.
The financial backdrop The company closed its fiscal 2026 in June with record revenue of $23.2 billion and diluted earnings per share (EPS) of $5.82, up 41%. Gross margin for the quarter that ended in June hit 52%, the company's highest in 20 years, on pricing actions and favorable mix.
Management then raised its long-term targets by 500 to 1,000 basis points compared to the figures it provided during its 2025 investor day. It's now guiding for a gross margin in the mid-50% range and an operating margin in the mid-40% range. So, all in all, if the seasonal pattern holds again this year, Lam could be one of the more compelling chip stocks to own heading into the fall, especially with its underlying business momentum giving investors more than just history to lean on.
Lam Research zahájila výstavbu nové laboratoře v Oregonu jako součást více než 3 miliard USD plánovaných investic do globální sítě laboratoří. Nové zařízení má po dokončení v roce 2028 rozšířit prostor čistých prostor v Tualatinu o více než 50 %.
State-of-the-art, Silicon Forest facility to support collaborative innovation with chip makers; first milestone in more than $3B planned expansion of global lab network
, /PRNewswire/ -- In a ceremony today at its world-class research and development (R&D) center in Tualatin, Oregon, Lam Research Corp. (NASDAQ: LRCX) commemorated the start of construction on its new, state-of-the-art Oregon lab, part of a more than $3 billion planned investment in its global lab network over the next five years to accelerate breakthroughs for the creation of advanced AI chips. Located in the Silicon Forest, in close proximity to key customers, the new 120,000-square-foot facility is expected to increase cleanroom lab space at the Lam Tualatin R&D center by more than 50% when completed, enabling expanded experimentation and accelerated solution development. Lam plans to make the new facility one of its most advanced labs in the world, increasing capacity and capabilities for side-by-side innovation with customers and compressing product development cycles across its global lab network.
Lam Research President and CEO Tim Archer, U.S. Senator Jeff Merkley of Oregon, U.S. Congresswoman Suzanne Bonamici of Oregon, Oregon Secretary of State Tobias Read, senior leaders from Intel Corporation and Micron Technology, and other distinguished government, community and nonprofit leaders join together to break ground on Lam’s new Oregon lab in a ceremony today. President and Chief Executive Officer Tim Archer and Executive Vice President and Chief Operating Officer Sesha Varadarajan of Lam Research were joined at the groundbreaking event by U.S. Senator Jeff Merkley of Oregon; U.S. Congresswoman Suzanne Bonamici of Oregon; Oregon Secretary of State Tobias Read; senior leaders from Intel Corporation and Micron Technology; and other distinguished government, community and nonprofit leaders.
"Delivering next-generation semiconductors at the speed of AI requires relentless innovation and a strategic focus on the technology breakthroughs that matter most to our customers. Our new advanced Oregon lab is expected to deepen our specialized capabilities and add tens of thousands of square feet of valuable cleanroom space, enabling even closer collaboration with customers while strengthening the expertise and reach of our global lab network," said Varadarajan. "This expansion reflects our continuing commitment to advancing the Silicon Forest as a leader in U.S. semiconductor innovation. We thank the State of Oregon, Washington County, and the City of Tualatin for their long-standing partnership and look forward to continuing our work together to advance economic opportunities in a community we've been proud to be part of for more than 30 years."
Expanding the Power of Lam's Global Lab Network
The new Oregon lab will build on Lam's strengths as a leader in atomic-scale semiconductor manufacturing, adding specialized capabilities to support advanced deposition and etch process development, materials science, and hardware validation. Just like in Lam's existing labs, customers can work closely on-site in the new facility with Lam engineers through each phase of product development, from idea to deployment in their fabs. The lab will also join Lam's integrated network of specialized labs around the world, which operate together to drive innovation 24/7, in parallel and at scale.
Advancing Lam's Leadership in the Silicon Forest
Projected to open in 2028, the new state-of-the-art Oregon lab is part of a planned multi-building expansion at Lam's Tualatin campus. According to a third-party assessment*, over the three-year construction period, the expansion project is expected to create approximately 900 jobs and $500 million in economic output **.
Once completed, the expansion is expected to represent the company's biggest investment in Oregon to date, with a projected economic impact* that includes creating more than 400 new Lam jobs and bolstering the number of jobs that Lam supports statewide to more than 11,000*. In addition, the completed expansion is projected to increase Lam's annual economic contribution in Oregon to more than $1.8 billion.*
Additional speakers at today's ceremony included Katheryn Harrington, chair of the Washington County Board of Commissioners, Valerie Pratt, President of the Tualatin City Council and Jayathi Murthy, president of Oregon State University. Photos and other digital assets from the event can be found later today here: https://newsroom.lamresearch.com/Oregon-Lab-Expansion.
QUOTES
U.S. Senator Jeff Merkley of Oregon: "I support investing in Oregon's economy and workers, and Lam Research's Tualatin Expansion project does both. This expansion will provide hundreds of good-paying, high-tech jobs and further position Oregon's Silicon Forest as a leader in semiconductor research, development, and manufacturing. The work that happens here will enable advances in all of the latest cutting-edge industries, including vital technologies like AI and robotics." U.S. Congresswoman Suzanne Bonamici of Oregon: "Innovation, research, and development fuel Oregon's international semiconductor leadership. Congratulations to Lam Research on the groundbreaking of their new R&D building and thank you for investing in our region and the local workforce." Oregon Governor Tina Kotek: "This state-of-the-art expansion builds on more than 30 years of Lam's innovation leadership in the Silicon Forest. This is a powerful investment towards Oregon's economic future that will create more high-quality jobs, strengthen the state's world-class research and development ecosystem, and help ensure Oregon and the United States continue to lead in semiconductor innovation for decades to come." Oregon Secretary of State Tobias Read: "Lam Research's continued investment in Oregon is a testament to the strength of our state's semiconductor ecosystem and the talented workforce that powers it. This groundbreaking represents more than a new facility. It represents hundreds of new jobs, accelerated innovation, and a long-term commitment to Oregon. I'm proud to celebrate this important milestone and Lam's ongoing growth as a leader in the Silicon Forest." Naga Chandrasekaran, executive vice president and chief technology and operations officer of Intel Foundry: "Intel has enjoyed close collaboration with Lam in Oregon and around the world for decades. With this new lab facility, we look forward to working even more closely together to accelerate process development at chip scale, quickly evaluate new technologies, and deliver the breakthroughs required for the next generation of AI-driven computing." Manish Bhatia, executive vice president of Global Operations at Micron Technology: "AI marks a historic inflection point for the semiconductor industry, driving exceptional demand for memory and increasing the need for greater speed, scale and manufacturing capacity. We congratulate Lam Research on today's groundbreaking and look forward to deepening our longstanding collaboration to equip Micron for significant manufacturing expansion to keep pace with the AI era." About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com.
* Source: Results generated by IMPLAN®, 2026 Model Year, using inputs provided by Lam and IMPLAN Group LLC, IMPLAN System data and software.
** $500 million projected impact from construction project; limited to three-year construction period only. Result generated by IMPLAN*.
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "accelerate," "advance," "can," "commit," "continue," "drive," "expect," "expand," "focus," "grow," "look forward," "long-term," "ongoing," "opportunity," "plan," "project," "require," "strategy," "will," or variations of these words or other similar expressions. Such forward-looking statements include, but are not limited to: our planned investment in our global lab network to accelerate breakthroughs; the development timeline and expected benefits of the new Oregon lab, including increasing cleanroom lab space and innovation capabilities, accelerating development cycles, and the third-party assessment projections; and industry trends related to AI-driven demand. These statements are not a guarantee of future performance and involve a number of risks, uncertainties, and other factors that could cause our actual results or outcomes, or the timing of our results or outcomes, to differ materially from those expressed or implied in this press release. Such risks, uncertainties, and other factors include: our ability to successfully execute the planned expansion of our global lab network or the development of the new Oregon lab; our ability to achieve the anticipated benefits of our investments in R&D infrastructure, including the new Oregon lab; the development timing and anticipated benefits of the new Oregon lab may differ from our expectations; business, economic, political and/or regulatory conditions in the consumer electronics industry, including wafer fabrication equipment spending, the semiconductor industry and the overall economy may deteriorate or change; the actions, performance, or investment levels of our customers and competitors may be inconsistent with our expectations; customer and product mix, including across market segments and geographical regions, may change; we may be unable to effectively manage and implement pricing actions, realize the value of our products and technology, successfully commercialize new products and technologies, or execute on perceived opportunities; we may be unable to achieve anticipated operational, manufacturing, supply chain, procurement, and scale efficiencies; customer technology transitions, capacity expansions, and fab construction projects may have different timing or be less successful than we expect; we may be unable to manage operating expenses effectively while continuing to invest in R&D, product innovation, customer support, and future growth opportunities; trade regulations, export controls, tariffs, trade disputes, and other geopolitical developments may inhibit our ability to sell our products; supply chain cost increases, tariffs, and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. You should evaluate all forward-looking statements made in this press release in the context of these risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on our current beliefs, expectations, and assumptions about future events. Except as required by law, we undertake no obligation to update the information or statements made in this press release.
Company Contacts
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Public Relations
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Avenir Tech Ltd bought a new stake in Lam Research Corporation (NASDAQ:LRCX – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,618 shares of the semiconductor company’s stock, valued at approximately $4,168,000. Lam Research accounts for 0.6% of Avenir Tech Ltd’s portfolio, making the stock its 10th biggest position.
Several other institutional investors and hedge funds have also modified their holdings of LRCX. World Equity Group Inc. raised its holdings in Lam Research by 0.5% in the 2nd quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock valued at $2,416,000 after acquiring an additional 29 shares in the last quarter. Tenzing Financial LLC grew its holdings in shares of Lam Research by 3.5% during the 2nd quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock worth $441,000 after purchasing an additional 34 shares in the last quarter. Gibraltar Capital Management Inc. increased its position in shares of Lam Research by 3.6% in the second quarter. Gibraltar Capital Management Inc. now owns 1,050 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 36 shares during the period. Elevated Financial Group LLC increased its position in shares of Lam Research by 3.0% in the second quarter. Elevated Financial Group LLC now owns 1,223 shares of the semiconductor company’s stock worth $530,000 after purchasing an additional 36 shares during the period. Finally, Yoder Wealth Management Inc. increased its position in shares of Lam Research by 3.3% in the second quarter. Yoder Wealth Management Inc. now owns 1,129 shares of the semiconductor company’s stock worth $489,000 after purchasing an additional 36 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Lam Research In other news, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the sale, the senior vice president owned 58,470 shares of the company’s stock, valued at approximately $18,102,312. This represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $335.00, for a total value of $6,124,470.00. Following the transaction, the director owned 87,142 shares of the company’s stock, valued at $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 80,441 shares of company stock worth $27,614,296. Insiders own 0.31% of the company’s stock.
Lam Research Trading Down 0.6% LRCX opened at $312.88 on Thursday. Lam Research Corporation has a fifty-two week low of $94.11 and a fifty-two week high of $438.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. The firm has a market capitalization of $391.51 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 1.25 and a beta of 1.84. The company’s 50 day moving average price is $333.58 and its two-hundred day moving average price is $288.43. Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.13. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, research analysts predict that Lam Research Corporation will post 9.32 earnings per share for the current year.
Lam Research News Summary Here are the key news stories impacting Lam Research this week:
Positive Sentiment: AI-focused R&D expansion: Lam Research broke ground on a 120,000-square-foot laboratory in Tualatin, Oregon, as part of a planned investment of more than $3 billion in its global lab network over the next five years. The facility is intended to support collaboration with chipmakers and accelerate equipment innovations for advanced AI semiconductors. Lam Research Oregon lab announcement Positive Sentiment: Strong AI demand outlook: CEO Tim Archer said increasingly complex AI models require more computing power, bandwidth and storage, creating demand for semiconductor innovation. The investment reinforces Lam’s positioning as a supplier to the AI infrastructure buildout. Lam Research AI investment video Positive Sentiment: Favorable analyst and fundamentals commentary: Zacks highlighted AI-driven growth, recurring services revenue, earnings momentum and Lam’s balance sheet, while Mizuho maintained an “outperform” rating despite trimming its price target to $365 from $370. Lam’s latest reported quarter also showed 30% year-over-year revenue growth and an earnings beat. Neutral Sentiment: Investor outreach scheduled: CFO Doug Bettinger will participate in upcoming investor conferences. The events could provide updates on demand, AI exposure and the Oregon investment, but no new financial guidance was announced. Lam Research conference announcement Negative Sentiment: Investment and valuation concerns: The multibillion-dollar R&D expansion will raise near-term capital and operating costs, while the stock’s high earnings multiple leaves less room for disappointment. The modest analyst price-target reduction may also have limited enthusiasm. Analysts Set New Price Targets Several equities research analysts recently weighed in on LRCX shares. Morgan Stanley cut their price objective on shares of Lam Research from $404.00 to $367.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Needham & Company LLC reissued a “buy” rating and issued a $390.00 target price on shares of Lam Research in a report on Thursday, July 30th. Bank of America boosted their target price on shares of Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Stifel Nicolaus upped their price target on shares of Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $320.00 price target on shares of Lam Research in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $357.31.
View Our Latest Stock Report on Lam Research
About Lam Research (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Ancora Advisors LLC ve 2. čtvrtletí nově koupila 3 878 akcií Lam Research za zhruba 1,68 milionu USD. Institucionální investoři nyní drží 84,61 % akcií.
Ancora Advisors LLC acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,878 shares of the semiconductor company’s stock, valued at approximately $1,680,000.
Other large investors have also modified their holdings of the company. Fideuram Asset Management Ireland dac bought a new stake in Lam Research in the fourth quarter valued at approximately $10,035,000. Rokos Capital Management LLP boosted its stake in shares of Lam Research by 42.0% during the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company’s stock worth $55,532,000 after acquiring an additional 76,840 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Lam Research during the 1st quarter worth approximately $59,973,000. Krilogy Financial LLC increased its holdings in shares of Lam Research by 19.5% during the 1st quarter. Krilogy Financial LLC now owns 28,111 shares of the semiconductor company’s stock worth $6,006,000 after acquiring an additional 4,584 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Lam Research during the 1st quarter worth approximately $26,489,000. 84.61% of the stock is owned by institutional investors.
Lam Research Stock Down 0.6% Shares of LRCX opened at $312.88 on Thursday. Lam Research Corporation has a 12 month low of $94.11 and a 12 month high of $438.50. The firm’s 50 day moving average is $333.58 and its 200-day moving average is $288.43. The stock has a market capitalization of $391.51 billion, a PE ratio of 54.32, a P/E/G ratio of 1.25 and a beta of 1.84. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30.
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.13. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Equities research analysts forecast that Lam Research Corporation will post 9.32 EPS for the current year. Wall Street Analysts Forecast Growth LRCX has been the subject of several research reports. Bank of America raised their price target on Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Morgan Stanley dropped their price objective on shares of Lam Research from $404.00 to $367.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group set a $335.00 price objective on Lam Research and gave the stock a “buy” rating in a report on Thursday, July 30th. B. Riley Financial decreased their target price on Lam Research from $385.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Seaport Research Partners began coverage on Lam Research in a research note on Monday, May 4th. They set a “buy” rating and a $300.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $357.31.
Get Our Latest Stock Analysis on LRCX
Insider Activity In related news, Director Eric Brandt sold 54,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the sale, the director owned 199,205 shares of the company’s stock, valued at $69,881,114. This represents a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the sale, the senior vice president owned 58,470 shares in the company, valued at $18,102,312. The trade was a 11.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is currently owned by company insiders.
Lam Research News Roundup Here are the key news stories impacting Lam Research this week:
Positive Sentiment: AI-focused R&D expansion: Lam Research broke ground on a 120,000-square-foot laboratory in Tualatin, Oregon, as part of a planned investment of more than $3 billion in its global lab network over the next five years. The facility is intended to support collaboration with chipmakers and accelerate equipment innovations for advanced AI semiconductors. Lam Research Oregon lab announcement Positive Sentiment: Strong AI demand outlook: CEO Tim Archer said increasingly complex AI models require more computing power, bandwidth and storage, creating demand for semiconductor innovation. The investment reinforces Lam’s positioning as a supplier to the AI infrastructure buildout. Lam Research AI investment video Positive Sentiment: Favorable analyst and fundamentals commentary: Zacks highlighted AI-driven growth, recurring services revenue, earnings momentum and Lam’s balance sheet, while Mizuho maintained an “outperform” rating despite trimming its price target to $365 from $370. Lam’s latest reported quarter also showed 30% year-over-year revenue growth and an earnings beat. Neutral Sentiment: Investor outreach scheduled: CFO Doug Bettinger will participate in upcoming investor conferences. The events could provide updates on demand, AI exposure and the Oregon investment, but no new financial guidance was announced. Lam Research conference announcement Negative Sentiment: Investment and valuation concerns: The multibillion-dollar R&D expansion will raise near-term capital and operating costs, while the stock’s high earnings multiple leaves less room for disappointment. The modest analyst price-target reduction may also have limited enthusiasm. About Lam Research (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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, /PRNewswire/ -- Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors has approved a $0.07, or 27%, increase in its quarterly dividend, from $0.26 to $0.33 per share of common stock. The dividend payment will be made on October 14, 2026, to holders of record on September 23, 2026. Future dividend payments are subject to review and approval by the Board of Directors.
About Lam Research:
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)
Caution Regarding Forward-Looking Statements:
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include but are not limited to our plans to make dividend payments and any future dividend payments. These statements are not a guarantee of future performance and involve a number of risks, uncertainties, and other factors that could cause our actual results or outcomes, or the timing of our results or outcomes, to differ materially from those expressed or implied in this press release. Such risks, uncertainties, and other factors include but are not limited to those described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. You should evaluate all forward-looking statements made in this press release in the context of these risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on our current beliefs, expectations, and assumptions about future events. Except as required by law, we undertake no obligation to update the information or statements made in this press release.
Lam Research po poslední výsledkové zprávě za poslední měsíc vzrostla asi o 7 % a překonala S&P 500. Firma zároveň zvýšila výhled tržeb za první čtvrtletí fiskálního roku 2027 na 8,10 miliardy USD.
It has been about a month since the last earnings report for Lam Research (LRCX - Free Report) . Shares have added about 7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Lam Research due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
LRCX Q4 Earnings Beat on NAND and Customer Support StrengthLam Research delivered fourth-quarter fiscal 2026 non-GAAP earnings of $1.82 per share, which beat the Zacks Consensus Estimate by 7.69%. Non-GAAP earnings per share jumped nearly 37% year over year and 24% sequentially, primarily driven by strong pricing, scale efficiencies and better product mix.
Lam Research’s fourth-quarter revenues increased 30% year over year and 15% sequentially to $6.72 billion and surpassed the consensus estimate by 0.73%. NAND revenues more than doubled sequentially, while the Customer Support Business Group delivered its third consecutive quarter of record revenues.
LRCX Revenue Mix Tilts Toward MemorySystems revenues totaled $4.25 billion, up 23.6% from the year-ago quarter. Memory accounted for 46% of systems revenues, up from 39% in the preceding quarter.
Non-volatile memory accounted for 23% of systems revenues, up from 12% in the previous quarter, as customers invested in conversions to 256-layer-and-above devices for enterprise solid-state drives. DRAM contributed 23%, with spending focused on wafer additions and upgrades across 1-alpha, 1-beta and 1-gamma nodes.
Lam Research's Foundry Business Stays ResilientFoundry accounted for 44% of systems revenues compared with 54% in the March quarter. Leading-edge investments in 2-nanometer and 3-nanometer capabilities and advanced packaging largely offset lower mature-node spending in China.
Taiwan generated 27% of total revenues and reached a record dollar level. China contributed 26%, down from 34% sequentially, while Korea represented 20%. Japan and the United States accounted for 9% each.
LRCX Support Revenues Hit New RecordCustomer support-related revenues and other revenues climbed 42.6% year over year to $2.47 billion. The business benefited primarily from record upgrade revenues, with additional growth in Reliant systems and services.
Management expects upgrades to remain strong due to NAND investment, while high industry utilization should support spares and service demand. Equipment Intelligence and Dextro maintenance automation solutions are also expanding from NAND into DRAM, creating additional service opportunities.
Lam Research Expands ProfitabilityNon-GAAP gross margin reached 52%, up 210 basis points sequentially. Pricing actions, operational and scale efficiencies, and favorable product mix drove the improvement.
Non-GAAP operating expenses rose to $916 million from $866 million in the prior quarter. Higher headcount and variable compensation increased spending, while research and development represented 67% of operating expenses. Despite the increase, non-GAAP operating margin expanded 340 basis points to 38.4%.
LRCX Raises WFE View on AI DemandManagement now expects calendar 2026 wafer fabrication equipment spending in the low-$150-billion range, up from its prior $140-billion outlook with an upside bias. Lam Research expects 2026 to mark a third consecutive year of relative outperformance versus industry spending.
AI-driven requirements are increasing demand for flash storage, advanced DRAM, leading-edge foundry architectures and larger chip packages. Lam Research is moving faster toward its target of a high-30% served available market share of WFE, supported by rising etch and deposition intensity.
LRCX Builds Cash While Funding ExpansionCash, cash equivalents and restricted cash increased to $5.60 billion from $4.77 billion in the previous quarter. Operating cash flow was $1.46 billion, while capital expenditures totaled $189 million as Lam Research invested in U.S. laboratories and global manufacturing capacity. In fiscal 2026, the company generated operating cash flow of $5.86 billion.
Inventories rose to $4.28 billion from $4.00 billion in the previous quarter as the company prepared for stronger customer demand, though inventory turns improved to 3.0 from 2.9. Lam Research repurchased $246 million of shares and paid $325 million in dividends during the quarter. In fiscal 2026, it repurchased shares worth $3.85 billion and paid $1.27 billion in dividends.
Lam Research Issues Strong September GuidanceFor the first quarter of fiscal 2027, Lam Research projects revenues of $8.10 billion, plus or minus $400 million. The midpoint implies growth of more than 20% from the June quarter.
The company expects non-GAAP gross margin of 52%, plus or minus one percentage point, and operating margin of 39.5%, plus or minus one point. Non-GAAP earnings are expected to be $2.15 per share, plus or minus 15 cents, based on 1.255 billion diluted shares.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 17.75% due to these changes.
VGM ScoresCurrently, Lam Research has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of F on the value side, putting it in the fifth quintile for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Lam Research has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
BNP Paribas ve 2. čtvrtletí snížila svůj podíl v Lam Research o 57,4 % a prodala 14 575 akcií. Po transakci držela 10 795 akcií v hodnotě 4,604 milionu USD.
BNP Paribas decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 57.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,795 shares of the semiconductor company’s stock after selling 14,575 shares during the period. BNP Paribas’ holdings in Lam Research were worth $4,604,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Bayban purchased a new stake in shares of Lam Research during the 4th quarter worth approximately $26,000. Vermillion Wealth Management Inc. purchased a new stake in Lam Research in the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC boosted its stake in Lam Research by 242.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 85 shares during the period. Paladin Partners LLC purchased a new position in shares of Lam Research during the second quarter worth about $26,000. Finally, Triumph Capital Management acquired a new position in Lam Research in the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 84.61% of the company’s stock.
Analyst Ratings Changes Several brokerages recently weighed in on LRCX. Oppenheimer reaffirmed an “outperform” rating and set a $400.00 price target (up from $330.00) on shares of Lam Research in a report on Monday, June 15th. Rothschild & Co Redburn boosted their price target on shares of Lam Research from $305.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Sanford C. Bernstein boosted their target price on shares of Lam Research from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Jefferies Financial Group set a $335.00 target price on shares of Lam Research and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, HSBC restated a “hold” rating and issued a $333.00 price target on shares of Lam Research in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $357.31.
View Our Latest Report on Lam Research Insider Transactions at Lam Research In related news, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the sale, the director directly owned 87,142 shares in the company, valued at approximately $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the sale, the senior vice president directly owned 58,470 shares of the company’s stock, valued at approximately $18,102,312. This represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is currently owned by corporate insiders.
Trending Headlines about Lam Research Here are the key news stories impacting Lam Research this week:
Positive Sentiment: Lam Research broke ground on a 120,000-square-foot Oregon semiconductor laboratory as part of a planned investment of more than $3 billion in its global lab network over five years. The project is intended to accelerate process innovations for advanced AI chips and improve collaboration with customers, supporting the company’s long-term growth prospects. Lam Research breaks ground on AI semiconductor lab in Oregon Positive Sentiment: The board approved a 27% increase in the quarterly dividend, from $0.26 to $0.33 per share. The payout is scheduled for October 14, 2026, for shareholders of record on September 23, providing a modest shareholder-return signal. Lam Research Corporation Announces a 27% Increase in Quarterly Dividend Neutral Sentiment: Lam’s latest earnings exceeded consensus expectations, with quarterly earnings per share of $1.82 versus the $1.69 estimate and revenue of $6.72 billion. Revenue increased 30% year over year, while management issued fiscal first-quarter 2027 EPS guidance of $2.00 to $2.30. Analysts’ median price target remains substantially above recent trading levels, although Mizuho recently lowered its target to $365. Neutral Sentiment: Two long-serving directors, Michael R. Cannon and Sohail U. Ahmed, plan to retire from the board on November 2, 2026. The transition could refresh governance but introduces some near-term uncertainty regarding board composition. Lam Research Announces Retirement of Michael R. Cannon and Sohail U. Ahmed from Board of Directors Negative Sentiment: Investors appear increasingly concerned about tariffs, export restrictions and other U.S.-China trade measures. China was Lam’s largest geographic market in fiscal 2026, making the company particularly sensitive to policy changes that could reduce demand, hurt margins or disrupt its supply chain. These macro concerns have overshadowed the dividend increase and Oregon expansion. Lam Research Slides as China Trade Risk Appears to Outweigh Dividend Hike Negative Sentiment: Reported insider activity shows selling rather than buying by executives and directors over the past six months, which may reinforce caution among investors, though such transactions can reflect personal financial planning rather than a view on company fundamentals. Lam Research Stock Performance Shares of NASDAQ:LRCX opened at $301.90 on Friday. The firm has a market capitalization of $377.77 billion, a PE ratio of 52.41, a P/E/G ratio of 1.26 and a beta of 1.84. Lam Research Corporation has a 12 month low of $94.11 and a 12 month high of $438.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. The business has a 50-day moving average of $330.43 and a two-hundred day moving average of $289.14.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.13. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, research analysts forecast that Lam Research Corporation will post 9.32 earnings per share for the current year.
Lam Research Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 0.4%. This is a boost from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s dividend payout ratio (DPR) is 18.06%.
About Lam Research (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Cookson Peirce & Co. Inc. decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,973 shares of the semiconductor company’s stock after selling 2,013 shares during the period. Lam Research accounts for about 1.3% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 21st largest holding. Cookson Peirce & Co. Inc.’s holdings in Lam Research were worth $38,121,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in LRCX. Bayban bought a new stake in shares of Lam Research in the 4th quarter worth $26,000. Vermillion Wealth Management Inc. acquired a new position in Lam Research during the first quarter worth about $26,000. Cedar Mountain Advisors LLC grew its holdings in Lam Research by 242.9% during the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 85 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in Lam Research in the fourth quarter worth about $27,000. Finally, Triumph Capital Management bought a new stake in Lam Research in the third quarter worth about $27,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets Several research firms have recently weighed in on LRCX. Bank of America raised their price objective on shares of Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Cantor Fitzgerald set a $500.00 target price on shares of Lam Research and gave the stock an “overweight” rating in a report on Monday, June 29th. Stifel Nicolaus increased their target price on shares of Lam Research from $325.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Raymond James Financial set a $425.00 target price on shares of Lam Research in a report on Wednesday, June 10th. Finally, UBS Group restated a “buy” rating and issued a $375.00 price target (up from $310.00) on shares of Lam Research in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.31.
Get Our Latest Research Report on LRCX Key Headlines Impacting Lam Research Here are the key news stories impacting Lam Research this week:
Positive Sentiment: Lam Research broke ground on a 120,000-square-foot Oregon semiconductor laboratory as part of a planned investment of more than $3 billion in its global lab network over five years. The project is intended to accelerate process innovations for advanced AI chips and improve collaboration with customers, supporting the company’s long-term growth prospects. Lam Research breaks ground on AI semiconductor lab in Oregon Positive Sentiment: The board approved a 27% increase in the quarterly dividend, from $0.26 to $0.33 per share. The payout is scheduled for October 14, 2026, for shareholders of record on September 23, providing a modest shareholder-return signal. Lam Research Corporation Announces a 27% Increase in Quarterly Dividend Neutral Sentiment: Lam’s latest earnings exceeded consensus expectations, with quarterly earnings per share of $1.82 versus the $1.69 estimate and revenue of $6.72 billion. Revenue increased 30% year over year, while management issued fiscal first-quarter 2027 EPS guidance of $2.00 to $2.30. Analysts’ median price target remains substantially above recent trading levels, although Mizuho recently lowered its target to $365. Neutral Sentiment: Two long-serving directors, Michael R. Cannon and Sohail U. Ahmed, plan to retire from the board on November 2, 2026. The transition could refresh governance but introduces some near-term uncertainty regarding board composition. Lam Research Announces Retirement of Michael R. Cannon and Sohail U. Ahmed from Board of Directors Negative Sentiment: Investors appear increasingly concerned about tariffs, export restrictions and other U.S.-China trade measures. China was Lam’s largest geographic market in fiscal 2026, making the company particularly sensitive to policy changes that could reduce demand, hurt margins or disrupt its supply chain. These macro concerns have overshadowed the dividend increase and Oregon expansion. Lam Research Slides as China Trade Risk Appears to Outweigh Dividend Hike Negative Sentiment: Reported insider activity shows selling rather than buying by executives and directors over the past six months, which may reinforce caution among investors, though such transactions can reflect personal financial planning rather than a view on company fundamentals. Insider Buying and Selling at Lam Research In other Lam Research news, Director Abhijit Y. Talwalkar sold 18,282 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the completion of the sale, the director owned 87,142 shares in the company, valued at $29,192,570. This represents a 17.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the transaction, the senior vice president owned 58,470 shares in the company, valued at approximately $18,102,312. This represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is currently owned by company insiders.
Lam Research Stock Performance Shares of LRCX opened at $301.90 on Friday. The company has a 50-day moving average of $330.43 and a two-hundred day moving average of $289.14. The stock has a market cap of $377.77 billion, a price-to-earnings ratio of 52.41, a PEG ratio of 1.20 and a beta of 1.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. Lam Research Corporation has a one year low of $94.11 and a one year high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.13. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities research analysts expect that Lam Research Corporation will post 9.33 earnings per share for the current year.
Lam Research Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This is a boost from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 dividend on an annualized basis and a yield of 0.4%. Lam Research’s payout ratio is presently 18.06%.
Lam Research Company Profile (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Atlatl Advisers ve 2. čtvrtletí zvýšil podíl v Lam Research o 816,9 % na 16 210 akcií. Firma zároveň oznámila výnosy 6,72 miliardy USD a EPS 1,82 USD, nad odhady.
Atlatl Advisers LLC grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 816.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,210 shares of the semiconductor company’s stock after purchasing an additional 14,442 shares during the quarter. Lam Research makes up approximately 1.7% of Atlatl Advisers LLC’s holdings, making the stock its 11th biggest position. Atlatl Advisers LLC’s holdings in Lam Research were worth $7,024,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of LRCX. Bayban purchased a new stake in shares of Lam Research during the 4th quarter valued at $26,000. Vermillion Wealth Management Inc. acquired a new stake in Lam Research in the 1st quarter valued at approximately $26,000. Cedar Mountain Advisors LLC boosted its stake in shares of Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 85 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at about $27,000. Finally, Triumph Capital Management purchased a new position in Lam Research in the third quarter valued at $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Lam Research In other news, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the sale, the director directly owned 87,142 shares of the company’s stock, valued at approximately $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total value of $19,118,600.00. Following the transaction, the director directly owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. This represents a 21.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth A number of brokerages have commented on LRCX. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $320.00 target price on shares of Lam Research in a report on Thursday, July 30th. Citigroup restated a “buy” rating and set a $450.00 price objective (up from $315.00) on shares of Lam Research in a research note on Wednesday, June 17th. B. Riley Financial reduced their target price on shares of Lam Research from $385.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Stifel Nicolaus lifted their target price on Lam Research from $325.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group set a $335.00 target price on Lam Research and gave the company a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $358.47. View Our Latest Research Report on Lam Research
Lam Research Stock Up 1.1% Shares of LRCX stock opened at $314.00 on Friday. The firm has a market capitalization of $392.91 billion, a P/E ratio of 54.51, a PEG ratio of 1.23 and a beta of 1.84. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. Lam Research Corporation has a 1 year low of $94.11 and a 1 year high of $438.50. The firm’s fifty day moving average price is $337.47 and its two-hundred day moving average price is $286.09.
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities analysts predict that Lam Research Corporation will post 9.32 EPS for the current fiscal year.
Lam Research Profile (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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ABN Amro Investment Solutions increased its stake in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 134,707 shares of the semiconductor company’s stock after acquiring an additional 9,903 shares during the period. ABN Amro Investment Solutions’ holdings in Lam Research were worth $58,373,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac bought a new position in shares of Lam Research during the fourth quarter valued at about $10,035,000. Generali Investments Management Co LLC increased its holdings in shares of Lam Research by 62.0% in the fourth quarter. Generali Investments Management Co LLC now owns 36,274 shares of the semiconductor company’s stock worth $6,209,000 after buying an additional 13,878 shares during the period. Rokos Capital Management LLP lifted its stake in shares of Lam Research by 42.0% in the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company’s stock valued at $55,532,000 after acquiring an additional 76,840 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Lam Research during the 1st quarter valued at about $59,973,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Lam Research during the 1st quarter valued at about $26,489,000. Institutional investors own 84.61% of the company’s stock.
Lam Research Trading Up 1.1% NASDAQ:LRCX opened at $314.00 on Friday. The company has a 50-day moving average price of $337.47 and a 200-day moving average price of $286.09. The stock has a market cap of $392.91 billion, a price-to-earnings ratio of 54.51, a P/E/G ratio of 1.23 and a beta of 1.84. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. Lam Research Corporation has a 12 month low of $94.11 and a 12 month high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the previous year, the company earned $1.33 earnings per share. Lam Research’s quarterly revenue was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Equities analysts predict that Lam Research Corporation will post 9.32 EPS for the current year. Insider Transactions at Lam Research In related news, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the transaction, the senior vice president directly owned 58,470 shares in the company, valued at $18,102,312. This trade represents a 11.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the transaction, the director directly owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. This trade represents a 21.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 80,441 shares of company stock valued at $27,614,296. Corporate insiders own 0.31% of the company’s stock.
Wall Street Analyst Weigh In A number of brokerages have commented on LRCX. Oppenheimer reaffirmed an “outperform” rating and issued a $400.00 price target (up from $330.00) on shares of Lam Research in a research note on Monday, June 15th. Wall Street Zen lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Mizuho raised their target price on shares of Lam Research from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Citigroup reaffirmed a “buy” rating and issued a $450.00 target price (up from $315.00) on shares of Lam Research in a research note on Wednesday, June 17th. Finally, TD Cowen reiterated a “buy” rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $358.47.
View Our Latest Report on LRCX
About Lam Research (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Lam Research získává na síle v segmentu DRAM, protože AI zvyšuje poptávku po HBM a nových paměťových technologiích. DRAM tvořila ve 4. čtvrtletí fiskálního roku 2026 23 % systémových tržeb.
Key Takeaways Lam Research is expanding its DRAM position as AI drives HBM and next-generation memory demand.DRAM was 23% of fiscal Q4 systems revenues, with revenues staying near Q3's record level.Akara's installed base doubled annually since launch, with LRCX expecting that trend to continue in 2027. Lam Research Corporation (LRCX - Free Report) is strengthening its position in the DRAM (Dynamic Random Access Memory) market as artificial intelligence (AI) drives demand for high-bandwidth memory (HBM) and next-generation memory technologies. The opportunity is becoming more important as memory makers invest in capacity additions and technology upgrades across 1-alpha, 1-beta and 1-gamma DRAM nodes, supporting DDR5, LPDDR5 and HBM.
DRAM accounted for 23% of Lam Research’s systems revenues in the fourth quarter of fiscal 2026 compared with 27% in the previous quarter. Although the share declined, DRAM revenues remained near the record level reached in the third quarter, showing that demand remains solid.
Lam Research is also expanding its technology footprint. Its VECTOR platform is gaining adoption for hard-mask deposition and diffusion-barrier applications, while Akara is winning advanced DRAM etch opportunities. These tools are designed for increasingly complex memory structures, giving LRCX more opportunities to capture spending as manufacturers move to newer nodes. During the last earnings call, management revealed that Akara’s installed base doubled annually since its launch and expects that growth trend to continue in 2027.
The broader financial picture also supports the growth case. Lam Research posted fourth-quarter revenues of $6.72 billion, up 15.1% sequentially, while non-GAAP operating margin expanded 340 basis points to 38.4%. The company now expects 2026 wafer fabrication equipment spending to reach the low-$150 billion range, up from its prior projection of $140 billion.
Overall, Lam Research’s expanding DRAM exposure could become an important growth driver, particularly if AI-related HBM demand continues to push memory makers toward more advanced manufacturing technologies. The Zacks Consensus Estimate for fiscal 2027 revenues is currently pegged at $34.48 billion, indicating a 48.4% year-over-year increase.
Applied Materials and KLA: Can They Challenge LRCX in DRAM?Lam Research faces strong competition in the growing DRAM equipment market, particularly from Applied Materials, Inc. (AMAT - Free Report) and KLA Corporation (KLAC - Free Report) .
Applied Materials is a major rival across deposition and other process steps and is benefiting from rising HBM demand. In the third quarter of fiscal 2026, Applied Materials’ total revenues jumped 25% year over year to $9.12 billion, while its semiconductor systems segment’s revenues rose 27% to $7.04 billion.
Applied Materials’ DRAM segment accounted for 26% of semiconductor systems’ revenues during the third quarter. DRAM revenues jumped 52% year over year, mainly benefiting from increasing memory requirements of AI infrastructure.
KLA is another important competitor because its process-control tools help memory manufacturers improve yields as DRAM structures become more complex. The company is well positioned to benefit from rising spending on advanced memory and HBM, although its exposure differs from Lam Research’s focus on etch and deposition.
In the last reported results for the fourth quarter of fiscal 2026, KLA revenues soared 15% year over year to $3.66 billion, while its semiconductor process control systems segment’s revenues rose 13% to $3.26 billion. Memory accounted for 21% of semiconductor process control systems’ revenues, reflecting demand for HBM and increasingly complex DRAM manufacturing processes.
LRCX’s Share Price Performance, Valuation and EstimatesShares of Lam Research have surged 100.4% year to date compared with the Zacks Electronics – Semiconductors industry’s rise of 34.1%.
Lam Research YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, Lam Research trades at a forward price-to-earnings ratio of 35.83, significantly higher than the industry’s average of 14.58.
Lam Research Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Lam Research’s fiscal 2027 and 2028 earnings implies a year-over-year increase of approximately 60.4% and 21.7%, respectively. Estimates for fiscal 2027 and 2028 have been revised upward over the past 30 days.
Image Source: Zacks Investment Research
Lam Research currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Farther Finance Advisors ve 2. čtvrtletí navýšila podíl v Lam Research o 7,5 % na 58 476 akcií v hodnotě 25,268 milionu USD. Lam Research zároveň oznámila výnosy 6,72 miliardy USD a EPS 1,82, což překonalo odhady.
Farther Finance Advisors LLC lifted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,476 shares of the semiconductor company’s stock after purchasing an additional 4,102 shares during the period. Farther Finance Advisors LLC’s holdings in Lam Research were worth $25,268,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in LRCX. Bayban purchased a new stake in Lam Research during the fourth quarter valued at about $26,000. Vermillion Wealth Management Inc. bought a new position in shares of Lam Research during the first quarter valued at about $26,000. Cedar Mountain Advisors LLC increased its holdings in shares of Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after buying an additional 85 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. Finally, Triumph Capital Management bought a new stake in shares of Lam Research in the 3rd quarter valued at about $27,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Lam Research Trading Up 3.5% NASDAQ LRCX opened at $343.84 on Tuesday. The stock has a market cap of $430.25 billion, a P/E ratio of 59.69, a price-to-earnings-growth ratio of 1.32 and a beta of 1.84. Lam Research Corporation has a fifty-two week low of $94.11 and a fifty-two week high of $438.50. The stock has a 50 day simple moving average of $339.85 and a two-hundred day simple moving average of $284.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.13. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, analysts forecast that Lam Research Corporation will post 9.32 earnings per share for the current year. Lam Research Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 17th. Lam Research’s payout ratio is presently 18.06%.
Insiders Place Their Bets In other Lam Research news, Director Abhijit Y. Talwalkar sold 18,282 shares of the company’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the completion of the transaction, the director directly owned 87,142 shares in the company, valued at approximately $29,192,570. This represents a 17.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. This represents a 21.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Lam Research from $300.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Berenberg Bank lifted their price target on Lam Research from $265.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. B. Riley Financial lowered their price objective on Lam Research from $385.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Raymond James Financial set a $425.00 price objective on Lam Research in a research note on Wednesday, June 10th. Finally, Oppenheimer reiterated an “outperform” rating and set a $400.00 price target (up from $330.00) on shares of Lam Research in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $358.47.
View Our Latest Report on Lam Research
Lam Research Company Profile (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Lam Research plánuje během pěti let investovat více než 3 miliardy USD do rozšíření globální sítě výzkumných a vývojových laboratoří. Kapacita experimentů má vzrůst o více než 50 %.
, /PRNewswire/ -- Lam Research Corp. (NASDAQ: LRCX) today announced that it intends to invest more than $3 billion over the next five years to expand its global research and development (R&D) lab network. The planned multi-site expansion is expected to add infrastructure and capabilities to increase experiment capacity by more than 50%. Lam's R&D approach combines specialized labs worldwide, each purpose-built to accelerate a distinct step of the innovation cycle, with deep customer collaboration that includes locations near customer facilities. Together, Lam's labs operate as an integrated 24/7 network, enabling innovation in parallel and at scale. With this investment, Lam intends to further compress product development cycles for customers, from pathfinding to fab deployment.
Lam’s global lab network spans the United States, Asia, and Europe, with R&D infrastructure that supports more than one million experiments annually. "In the AI era, the pace of innovation is relentless, requiring chips with new architectures, different materials, and complex features engineered with nanoscale precision. Our ability to increase velocity throughout the R&D process has become a decisive advantage," said Tim Archer, president and chief executive officer of Lam Research. "We are investing with the intention of staying ahead of what our customers need, further strengthening our global innovation engine to deliver the next generation of semiconductor breakthroughs."
Lam's global lab network spans the United States, Asia, and Europe. The combined R&D infrastructure supports more than one million experiments annually. Facilities specialized for foundational research in new chemistries, materials and mechatronics have the capability to compress weeks of experimental work into as little as a few days in many cases. Process development labs carry those advances toward production readiness, with engineering, product development and manufacturing teams working side by side on the same tools. Located in proximity to customers, Lam's technology centers support rapid qualification and validation alongside customers' engineering teams.
The integrated lab network enables tools, data and expertise to be shared across locations and time zones, so a discovery in one lab becomes knowledge every lab can use. In recent customer engagements, this approach has enabled Lam to shorten process development up to 2.5 times.
"Congratulations to Lam on this investment. Micron is proud to work with Lam as we advance memory and storage solutions that power the AI ecosystem," said Scott DeBoer, executive vice president and chief technology and products officer at Micron Technology. "Our longstanding collaboration with Lam continues to drive innovation in leading-edge front-end and advanced packaging technologies, and we look forward to building on this momentum to scale AI across the semiconductor ecosystem."
"Wafer-level semiconductor device processing is the backbone of all semiconductor ecosystems and the enabler of subsequent chip technology advancements," said John West, chief analyst, Semiconductor Equipment at Yole Group. "AI-related investment is lifting demand for deposition and etch intensity. Lam Research's etch, deposition, and advanced packaging wafer fabrication equipment innovations along with new EUV/DUV lithography technologies have helped to enable the production of semiconductor devices with the right combination of power consumption, performance, price, and form factor to unlock the AI revolution. Sustaining this momentum will require the semiconductor ecosystem to innovate faster, compress development cycles, and scale new technologies into manufacturing more quickly."
Lam plans to begin expanding the global lab network this year with the goal of increasing innovation velocity.
Additional Media Resources
Lam Blog, How Deposition and Etch Are Reshaping Chips for the AI Era Visit Lam's Media Center for images and visual assets About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com.
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our intention to invest more than $3 billion in the next five years to expand our R&D lab network across multiple sites, compress product development cycles for customers, and stay ahead of customer needs and strengthen global innovation to deliver the next generation of semiconductor breakthroughs; our expectation to add infrastructure and capabilities to increase experiment capacity by more than 50%; our ability to accelerate the innovation cycle; the requirement in the AI era for chips with new architectures, different materials, and complex features; the advantages associated with our ability to increase velocity throughout the R&D process; the effects of Micron's relationship with Lam; Yole Group's views regarding AI-related investment lifting demand for deposition and etch intensity and that sustaining momentum will require faster innovation, development cycles, and new technology scaling; our plan to begin expanding our lab network with the goal of increasing innovation velocity; and our unwavering commitment to customers. These statements are not a guarantee of future performance and involve a number of risks, uncertainties, and other factors that could cause our actual results or outcomes, or the timing of our results or outcomes, to differ materially from those expressed or implied in this press release. Such risks, uncertainties, and other factors include: our ability to successfully execute the planned expansion of our global R&D lab network; our ability to achieve the anticipated benefits of our investments in R&D infrastructure; the timing, cost, scope, and anticipated benefits of planned R&D investments may differ from our expectations; business, economic, political and/or regulatory conditions in the consumer electronics industry, including wafer fabrication equipment spending, the semiconductor industry and the overall economy may deteriorate or change; the actions, performance, or investment levels of our customers and competitors may be inconsistent with our expectations; customer and product mix, including across market segments and geographical regions, may change; we may be unable to effectively manage and implement pricing actions, realize the value of our products and technology, successfully commercialize new products and technologies, or execute on perceived opportunities; we may be unable to achieve anticipated operational, manufacturing, supply chain, procurement, and scale efficiencies; customer technology transitions, capacity expansions, and fab construction projects may have different timing or be less successful than we expect; we may be unable to manage operating expenses effectively while continuing to invest in R&D, product innovation, customer support, and future growth opportunities; trade regulations, export controls, tariffs, trade disputes, and other geopolitical developments may inhibit our ability to sell our products; supply chain cost increases, tariffs, and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. You should evaluate all forward-looking statements made in this press release in the context of these risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on our, Micron, or Yole Group's current beliefs, expectations, and assumptions about future events. Except as required by law, we undertake no obligation to update the information or statements made in this press release.
Company Contacts
Laura Bakken
Public Relations
(510) 572-9021
[email protected]
NVIDIA vykázala ve 1. čtvrtletí fiskálního roku 2027 tržby 81,615 miliardy USD, meziročně o 85 %, a upravený EPS 1,87 USD. Výhled na další čtvrtletí je 91 miliard USD.
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Jim Cramer is hosting a semiconductor-focused CNBC Investing Club call Thursday at noon. The AI capex cycle is running hotter than any point in the last two years, with hyperscalers, sovereigns, and enterprises racing to secure compute. These five names matter most, ranked by AI-driven revenue growth, earnings execution, margin expansion, and forward guidance strength.
#5. Qualcomm Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) lands at the bottom because it broke the streak. Q3 FY26 non-GAAP EPS came in at $2.21, missing consensus of $2.2208 by 0.49% and snapping six consecutive quarters of beating EPS estimates. Handset revenue fell 20% year over year to $5.086 billion, dragging total revenue down 4.03%.
The bull case is automotive. That segment grew 61% year over year to $1.588 billion, its 23rd consecutive quarter of double-digit growth, and Qualcomm inked a long-term BMW chip supply deal for AI-enabled vehicles. CEO Cristiano Amon is targeting “total non-handset revenues growing to $40 billion by fiscal 2029” with non-handset growth accelerating from 24% in FY2026 to greater than 60% in FY2027. The stock is down 3.91% year to date, reflecting the handset overhang.
#4. Lam Research Lam Research (NASDAQ:LRCX) is the picks-and-shovels play. Q4 FY26 revenue hit $6.72 billion, up 30.0% year over year, with non-GAAP EPS of $1.82 beating consensus by 8.10%, marking five consecutive quarters of beats. Gross margin expanded 190 basis points sequentially to 51.7%.
The September quarter guide is compelling: revenue of ~$8.10 billion ±$400 million and EPS of ~$2.15 ±$0.15. CEO Tim Archer said “Lam delivered record revenue, operating margin and earnings per share in the June quarter as AI-driven demand continues to reshape the semiconductor industry.” Shares are up 82.26% year to date.
#3. ASML ASML (NASDAQ:ASML) owns the lithography monopoly and just raised the year. Q2 2026 revenue of $10.65 billion grew 21.3% year over year, with EPS of $8.67. Management lifted FY2026 guidance to €43-45 billion in revenue with gross margin of 54-56%, up from the prior €36-40 billion range.
CEO Christophe Fouquet is backing conviction with capacity, planning to add 30% to 2026 low NA EUV capacity of around 65 units for 2027, with another 30% under investigation for 2028. Shares are up 69.02% year to date.
#2. AMD Advanced Micro Devices (NASDAQ:AMD) is closing the gap. Q2 2026 revenue jumped 50.1% year over year to $11.536 billion, with Data Center revenue doubling to $6.718 billion, up 107% year over year and now 58% of total revenue. Data Center operating income swung to $2.10 billion from a $155 million loss from a year earlier.
The Anthropic deal for up to 2 gigawatts of MI450 Series GPUs in Helios racks and expanded Microsoft Azure collaboration validate the roadmap. Q3 guidance calls for ~$13 billion in revenue, roughly 41% year-over-year growth. Lisa Su said “We delivered an excellent quarter, with record revenue and profitability as Data Center revenue more than doubled year-over-year.” Shares are up 121.48% year to date despite a recent pullback.
#1. NVIDIA NVIDIA (NASDAQ:NVDA) is the top of the stack. Q1 FY27 revenue reached $81.615 billion, up 85.23% year over year, with non-GAAP EPS of $1.87 beating consensus by 5.42%. Data Center revenue alone was $75.246 billion, up 92%, and networking exploded 199% year over year.
The Q2 FY27 guide of $91.0 billion ± 2% with a 75.0% non-GAAP gross margin is remarkable for a company with a $5.42 trillion market cap. Supply commitments swelled to $119.0 billion, and the board added an $80.0 billion buyback authorization. Jensen Huang called it plainly: “The buildout of AI factories, the largest infrastructure expansion in human history, is accelerating at extraordinary speed.” Polymarket traders are pricing in a 98.1% probability of NVDA closing higher on August 12, with the most likely August close clustered at $232 (66.5% probability).
The Setup Into Thursday Cramer’s semiconductor call lands in the AI capex cycle’s most aggressive phase. Every one of these five names, even the one that missed, is executing against accelerating AI demand. NVIDIA sits at the top because it is the only company simultaneously growing revenue at 85%, holding 75% gross margins, guiding to $91 billion in a single quarter, and returning capital at scale. If Cramer opens Thursday with a chart, it will almost certainly start there.
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Lam Research rozšiřuje aktivity do panelového packagingu pro větší AI čipy. Tržby z advanced packaging mají v kalendářním roce 2026 růst o více než 70 % meziročně.
Key Takeaways Lam Research is expanding into panel-level packaging to address larger, more complex AI chip designs.Advanced-packaging revenues are expected to grow more than 70% year over year in calendar 2026.Lam Research has shipped 510x515-mm panel systems and plans its first 310x310-mm tool this year. Lam Research Corporation (LRCX - Free Report) is expanding its opportunity in advanced packaging as artificial intelligence (AI) chips become larger and more complex. The company seems to be now focusing on the Panel-Level Packaging (“PLP”) method. In this connection, it established a Panel-Level Packaging Center of Excellence in Salzburg, Austria, in May 2026 to accelerate research, customer qualification and production readiness.
PLP is a semiconductor packaging method in which multiple chips are assembled on a large, flat panel rather than individual circular wafers. This approach allows manufacturers to process more chips at once, potentially reducing production costs and improving efficiency.
The move is strategically important because future AI systems are expected to use more chiplets, high-bandwidth memory (HBM) stacks and larger packages. Lam Research expects advanced-packaging revenues to grow more than 70% year over year in calendar year 2026, providing a potentially meaningful new growth driver.
PLP could also expand Lam Research’s served market. The company has already shipped 510x515-millimeter panel systems to development programs in multiple regions and plans to ship its first 310x310-millimeter panel tool this year. These tools are designed to address the manufacturing challenges created by larger AI packages.
The opportunity comes at an attractive time. Lam Research generated record fourth-quarter fiscal 2026 revenues of $6.72 billion, up 30% year over year and 15% sequentially. Non-GAAP earnings per share (EPS) jumped nearly 37% year over year and 24% sequentially to $1.82. Management expects 2026 wafer fabrication equipment spending to reach the low-$150 billion range, which bodes well for the company.
PLP is more than a niche initiative. If AI package sizes continue expanding, this technology could widen Lam Research’s market opportunity and support sustained growth beyond traditional wafer-fab equipment. The Zacks Consensus Estimate for fiscal 2027 revenues is pegged at $33.9 billion, indicating a year-over-year increase of approximately 46%.
Can Rivals Challenge Lam Research in Advanced Packaging?Lam Research is not alone in targeting the fast-growing advanced-packaging market. Applied Materials, Inc. (AMAT - Free Report) is expanding its packaging portfolio as AI chips require more complex integration. Applied Materials expects its advanced-packaging revenues to grow more than 50% in calendar year 2026, making it a significant competitor to LRCX’s push into panel-level packaging. In the last reported financial results for the second quarter of fiscal 2026, Applied Materials’ revenues increased 11.4% year over year to $7.91 billion, while non-GAAP EPS rose 19.7% to $2.86.
KLA Corporation (KLAC - Free Report) is another strong competitor, particularly in inspection and process control for advanced packaging. KLAC expects advanced-packaging revenues to be between $1 billion and $1.1 billion in 2026, up from approximately $635 million in 2025. Its packaging portfolio covers process control for wafers, panels and components, giving it exposure to the same shift toward larger and more complex packages. In the last reported financial results for the fourth quarter of fiscal 2026, KLAC’s revenues increased 15.2% year over year to $3.66 billion, while non-GAAP EPS jumped 11.7% to $1.05.
The competitive landscape is strengthening as AI drives greater use of chiplets, HBM and larger packages. However, Lam’s focus on panel-level processing could differentiate it, particularly as AI packages become too large for traditional wafer-based approaches.
LRCX’s Share Price Performance, Valuation and EstimatesShares of Lam Research have surged 79% year to date compared with the Zacks Electronics – Semiconductors industry’s rise of 32.8%.
Lam Research YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, Lam Research trades at a forward price-to-earnings ratio of 32.32, significantly higher than the industry’s average of 14.54.
Lam Research Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Lam Research’s fiscal 2027 and 2028 earnings implies a year-over-year increase of approximately 59% and 23%, respectively. Estimates for fiscal 2027 have been revised upward over the past 30 days, while estimates for fiscal 2028 have been raised over the past seven days.
Image Source: Zacks Investment Research
Lam Research currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Akcie Lam Research za měsíc klesly o 15,6 %, ale ve 4. čtvrtletí fiskálního roku 2026 tržby dosáhly rekordu 6,72 mld. USD a non-GAAP EPS vzrostl o 37 % na 1,82 USD.
Key Takeaways LRCX stock fell 15.6% in a month as chip-equipment peers also faced broad selling pressure.AI demand is lifting advanced packaging, HBM, etch and deposition equipment opportunities.Lam Research's Q4'26 revenues hit a record $6.72B, while non-GAAP EPS rose 37% to $1.82. Lam Research Corporation (LRCX - Free Report) shares have plunged 15.6% over the past month, underperforming the Zacks Computer and Technology sector’s 4.4% decline. At first glance, such a sharp decline may worry investors. However, Lam Research is not the only semiconductor equipment company experiencing selling pressure.
The entire wafer fabrication equipment space has been under pressure. Peers such as ASML Holding (ASML - Free Report) , Applied Materials (AMAT - Free Report) and KLA Corporation (KLAC - Free Report) have also struggled during the same period. Shares of ASML Holding, Applied Materials and KLA Corporation have tanked 10%, 12.7% and 21.6%, respectively. This broad weakness suggests that investors are trimming exposure to semiconductor stocks across the board rather than losing confidence in Lam Research specifically.
Lam Research One-Month Price Return Performance
Image Source: Zacks Investment Research
The recent weakness stems from two key concerns. First, investors have started questioning whether hyperscalers' massive AI investments will generate enough returns to justify the spending. Second, semiconductor stocks enjoyed a strong rally earlier in 2026, pushing valuations higher and encouraging investors to lock in profits.
Even so, Lam Research's long-term story has not changed. The recent decline looks more like a sentiment-driven correction than a deterioration in the company's business. That makes the stock worth buying at current levels.
AI Chip Demand Continues to Power Lam Research's GrowthLam Research plays a critical role in the AI semiconductor supply chain. Rather than designing chips, it provides the advanced manufacturing equipment used by foundries such as Taiwan Semiconductor Manufacturing and Samsung to produce leading-edge semiconductors.
This gives Lam Research direct exposure to one of the strongest technology trends today. As AI chips become more advanced, demand for technologies such as advanced packaging, high-bandwidth memory (HBM) and next-generation chip architectures continues to rise. All of these require sophisticated etch and deposition equipment, where Lam Research has built a strong competitive position.
The company is also expanding its technology leadership. Its ALTUS ALD system improves manufacturing efficiency through molybdenum-based deposition, while its Aether platform enables customers to build smaller, denser and more powerful chips. As semiconductor complexity increases, these innovations should become even more valuable.
Management expects advanced packaging revenues to grow more than 70% in 2026 after posting strong growth in 2025. Emerging technologies like backside power distribution and dry-resist processing are also expected to create new growth opportunities over the coming years.
The demand trends are already showing up in the numbers. Lam Research has generated more than $5 billion in revenues for five straight quarters, including a record $6.72 billion in the fourth quarter of fiscal 2026. This reflects healthy spending by the world's leading chip manufacturers despite broader market concerns.
LRCX’s Strong Financial Results Reinforce the Bull ThesisLam Research is not just benefiting from AI demand, it is performing exceptionally well.
In the fourth quarter of fiscal 2026, revenues increased 30% year over year to $6.72 billion, beating the Zacks Consensus Estimate by 0.7%. Growth was driven by strong performance across both its Systems business and Customer Support Business Group. Non-GAAP earnings climbed 37% year over year to $1.82 per share, surpassing estimates by 7.7%.
Lam Research also delivered stronger profitability despite geopolitical uncertainty, tariffs and a challenging macro environment. Non-GAAP gross margin expanded 170 basis points year over year to 35%, supported by better pricing, operating efficiencies, scale benefits and a favorable product mix. Meanwhile, non-GAAP operating margin improved 400 basis points to 38.4%, aided by higher gross margins, a broader manufacturing footprint across Asia and disciplined cost management.
These results reinforce the view that Lam Research's growth is not solely dependent on short-term AI enthusiasm. The company continues to improve its operations while delivering strong revenue and earnings growth.
Wall Street also expects the momentum to continue. The Zacks Consensus Estimate projects fiscal 2027 and 2028 revenues to increase 25.4% and 31.1%, respectively. Earnings per share are expected to grow 53% in fiscal 2027 and another 29% in fiscal 2028, highlighting the company's attractive long-term earnings potential.
Strong AI Tailwinds Support Lam Research's Higher MultipleFrom a valuation perspective, Lam Research does not look cheap. The stock carries a Zacks Value Score of F, indicating a premium valuation.
Based on forward 12-month earnings, LRCX trades at 32.04X, well above the sector average of 20.74X. While that premium may appear expensive at first, it reflects the company's strong earnings outlook, AI-driven growth opportunities and consistent execution.
Lam Research Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
Among its closest peers, Lam Research trades at a higher multiple than ASML Holding but remains cheaper than both KLA Corporation and Applied Materials. ASML, KLA and Applied Materials currently trade at forward 12-month P/E multiples of 30.94X, 33.08X and 34.02X, respectively. This suggests Lam Research's valuation remains reasonable when viewed against its direct competitors.
Investment Verdict: Buy Lam Research SharesThe recent sell-off appears to be driven more by market sentiment than by any weakness in Lam Research's business. The company remains one of the biggest beneficiaries of the ongoing AI infrastructure buildout, while its leadership in etch and deposition equipment gives it a durable competitive edge.
The demand for advanced packaging continues to accelerate, and the company is introducing new manufacturing technologies to tap the opportunity. Its financial performance remains strong. Combined with healthy earnings growth and solid execution, these factors strengthen the long-term investment case.
Currently, Lam Research sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lam Research oznámil rekordní výnosy 6,72 miliardy USD a upravený EPS 1,82 USD, čímž překonal odhady. Výhled na další čtvrtletí počítá s tržbami 8,1 miliardy USD a EPS 2,00–2,30 USD, což také překonalo očekávání.
Arete Wealth Advisors LLC lowered its position in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 43.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,174 shares of the semiconductor company’s stock after selling 10,317 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Lam Research were worth $2,813,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its stake in Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 85 shares during the period. Vermillion Wealth Management Inc. bought a new position in shares of Lam Research during the 1st quarter worth approximately $26,000. Bayban acquired a new stake in Lam Research in the 4th quarter valued at $26,000. Mcguire Capital Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at $27,000. Finally, Core Wealth Advisors LLC bought a new stake in Lam Research in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 84.61% of the company’s stock.
Lam Research News Roundup Here are the key news stories impacting Lam Research this week:
Positive Sentiment: Strong fiscal fourth-quarter results and outlook: Lam reported record revenue of $6.72 billion, up approximately 30% year over year, and adjusted EPS of $1.82 versus the $1.69 consensus estimate. Management’s outlook for the next quarter—approximately $8.1 billion in revenue and $2.00–$2.30 in EPS—significantly exceeded expectations. NAND revenue more than doubled sequentially, while customer-support revenue reached another record. LRCX Q4 Earnings Beat on NAND and Customer Support Strength Positive Sentiment: AI and memory demand remain key catalysts: Analysts and investors see Lam benefiting from ongoing AI infrastructure spending, advanced chip production, NAND investment, packaging, and wafer-fabrication demand. Some commentary describes an “extraordinary runway” heading into 2027. This Chip Stock Could Be the Biggest Winner of the AI Memory Boom Positive Sentiment: China memory concerns may be overstated: Mizuho argued that fears of Chinese producer CXMT flooding the DRAM market and pressuring prices are overblown, easing a potential risk to semiconductor-equipment demand. Tech specialist explains why China memory fears are overblown Neutral Sentiment: Analyst views remain broadly constructive but targets are mixed: Needham reaffirmed a Buy rating and $390 target, while Morgan Stanley lowered its target from $404 to $367 and B. Riley reduced its target from $385 to $350, retaining Buy or Overweight ratings. The target cuts suggest expectations are being moderated after the rally, even though analysts still see potential upside. Needham Raises Lam Research EPS Estimates Negative Sentiment: Valuation and insider selling are overhangs: After rising roughly 3.9 times over five years and trading at a high earnings multiple, LRCX may be vulnerable to profit-taking. Reported insider activity shows sales rather than purchases over the past six months, reinforcing caution around current valuation. Has Lam Research Fallen Far Enough to Look Like a Bargain? Lam Research Stock Down 1.5% Shares of NASDAQ:LRCX opened at $293.15 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.77. The stock has a market cap of $366.60 billion, a price-to-earnings ratio of 50.89, a P/E/G ratio of 1.77 and a beta of 1.80. The company has a 50 day moving average of $340.82 and a 200-day moving average of $276.47. Lam Research Corporation has a one year low of $90.93 and a one year high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the business posted $1.33 earnings per share. Lam Research’s revenue was up 30.0% compared to the same quarter last year. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, sell-side analysts forecast that Lam Research Corporation will post 7.92 earnings per share for the current year.
Lam Research Announces Dividend The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a yield of 0.4%. Lam Research’s dividend payout ratio is presently 18.06%.
Analyst Ratings Changes Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Jefferies Financial Group set a $335.00 price objective on shares of Lam Research and gave the stock a “buy” rating in a report on Thursday. HSBC reiterated a “hold” rating and issued a $333.00 target price on shares of Lam Research in a research note on Monday. New Street Research increased their price target on Lam Research from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Citigroup restated a “buy” rating and set a $450.00 price target (up from $315.00) on shares of Lam Research in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $358.47.
View Our Latest Stock Report on LRCX
Insiders Place Their Bets In other Lam Research news, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the transaction, the director owned 87,142 shares in the company, valued at approximately $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the sale, the director owned 199,205 shares in the company, valued at $69,881,114. This represents a 21.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 80,441 shares of company stock worth $27,614,296. Insiders own 0.31% of the company’s stock.
About Lam Research (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Lam Research uvedl, že poptávka tažená AI zvyšuje výdaje na wafer fab equipment; pro zářijové čtvrtletí čeká tržby 8,1 miliardy USD, plus nebo minus 400 milionů USD, a EPS 2,15 USD, plus nebo minus 0,15 USD.
Key Takeaways Lam Research highlighted AI-driven semiconductor demand, with higher wafer fab spending expected.LRCX saw NAND revenues more than double sequentially as memory reached 46% of systems revenues.Lam Research expects advanced packaging growth above 70% year over year, driven by AI package demand. Lam Research Corporation (LRCX - Free Report) highlighted accelerating semiconductor demand as AI infrastructure spending reshapes wafer fabrication requirements. Management pointed to stronger memory demand, expanding technology complexity and rising opportunities across etch, deposition and advanced packaging.
The company raised its near-term outlook with expectations for higher wafer fab equipment spending and continued growth from customer support offerings. Executives also emphasized margin expansion efforts and investments aimed at long-term market share gains.
LRCX Sees AI Fueling Semiconductor GrowthManagement said AI demand is driving new capacity investments and more complex semiconductor architectures. CEO Timothy Archer said the company expects calendar 2026 wafer fab equipment spending to reach the low $150 billion range, up from the prior $140 billion outlook.
Archer noted that AI development is progressing through multiple stages, increasing demand for storage, advanced memory and complex logic devices. He highlighted opportunities as customers move toward higher-layer NAND, advanced DRAM and next-generation foundry technologies.
The company reported fourth-quarter fiscal 2026 non-GAAP earnings per share of $1.82, which beat the Zacks Consensus Estimate of $1.69. Revenues of $6.72 billion also surpassed the Zacks Consensus Estimate by 0.73%.
Lam Research Expands Memory and Packaging OpportunitiesLam Research said NAND revenues more than doubled sequentially as customers focused on upgrades to 256-layer and above-class devices. Memory represented 46% of systems revenues compared with 39% in the prior quarter.
Management emphasized that NAND remains one part of a broader opportunity set. Archer said the company is also gaining traction in DRAM and foundry logic as device architectures require more deposition and etch processes.
Advanced packaging was another growth area, with the company expecting greater than 70% year-over-year growth. Lam
Research pointed to demand for TSV etch, copper electroplating and larger AI package designs as key drivers.
LRCX Builds Margin MomentumLam Research expanded profitability during the quarter, with non-GAAP gross margin reaching 52% and operating margin improving to 38.4%. CFO Douglas Bettinger attributed margin strength to pricing actions, operational efficiencies, scale benefits and product mix.
The company also outlined a longer-term goal of reaching mid-50% gross margins and mid-40% operating margins over the next several years. Management tied the opportunity to revenue growth, new products and improving operational execution.
Lam Research reported a strong cash position, ending the quarter with $5.6 billion in cash and short-term investments. The company returned capital through approximately $246 million in share repurchases and $325 million in dividends during the quarter.
Lam Research Raises September-Quarter OutlookManagement guided for September-quarter revenues of $8.1 billion, plus or minus $400 million, with non-GAAP gross margin of 52%, operating margin of 39.5% and EPS of $2.15, plus or minus $0.15.
Bettinger said customer support revenue should remain strong, supported by upgrades, spare parts demand and Equipment Intelligence offerings. The segment generated record revenue of nearly $2.5 billion in the June quarter.
Analysts also focused on supply constraints and future capacity. Management said customers are adding clean-room capacity and working with Lam to secure equipment for upcoming fabs, while the company continues expanding manufacturing capabilities.
LRCX Addresses Analyst Questions on GrowthA JPMorgan analyst asked about the drivers behind margin improvement. Bettinger said operational efficiency, the global manufacturing footprint, new products and pricing efforts all contributed to recent gains.
A Goldman Sachs analyst questioned the outlook for 2027 growth. Management avoided numerical guidance but said industry capacity additions and new fabs coming online create a strong setup for continued demand.
A Bank of America analyst asked about future NAND upgrades. Archer said the opportunity extends beyond current upgrades because future transitions to higher-layer NAND devices will require additional process complexity and equipment intensity.
Lam Research Focuses on Long-Term AI DemandLam Research entered the second half of 2026 emphasizing technology transitions across memory, logic and packaging. Management said rising complexity in semiconductor manufacturing expands the company’s served available market opportunities.
Executives highlighted continued investments in research facilities, manufacturing capacity and customer support capabilities to address evolving semiconductor requirements.
The company’s message centered on scaling with AI-related semiconductor demand while improving profitability through technology leadership and operational execution.
Zacks Rank and Style Scores Lam Research carries a Zacks Rank #2 (Buy), indicating favorable earnings estimate revision trends within the Zacks Rank framework. The Zacks Style Scores show a Growth Score of B and Momentum Score of B, while the Value Score is D and the VGM Score is C. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Style Scores are designed to complement the Zacks Rank by evaluating characteristics such as value, growth and momentum. A stock with a Zacks Rank #1 or 2 combined with stronger Style Scores can provide additional signals for investors focused on those factors. The Zacks Rank can change as analysts update earnings estimates following new company information.
Arkadios Wealth Advisors ve 1. čtvrtletí navýšil podíl v Lam Research o 5,7 % na 118 181 akcií. Firma zároveň oznámila EPS 1,82 USD a tržby 6,72 mld. USD, obojí nad odhady.
Arkadios Wealth Advisors raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,181 shares of the semiconductor company’s stock after buying an additional 6,415 shares during the quarter. Arkadios Wealth Advisors’ holdings in Lam Research were worth $25,250,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fideuram Asset Management Ireland dac purchased a new stake in shares of Lam Research in the fourth quarter valued at about $10,035,000. Generali Investments Management Co LLC lifted its holdings in Lam Research by 62.0% in the fourth quarter. Generali Investments Management Co LLC now owns 36,274 shares of the semiconductor company’s stock valued at $6,209,000 after acquiring an additional 13,878 shares during the last quarter. Rokos Capital Management LLP grew its position in Lam Research by 42.0% in the first quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company’s stock worth $55,532,000 after acquiring an additional 76,840 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Lam Research in the first quarter valued at $59,973,000. Finally, Krilogy Financial LLC increased its position in shares of Lam Research by 19.5% during the 1st quarter. Krilogy Financial LLC now owns 28,111 shares of the semiconductor company’s stock worth $6,006,000 after purchasing an additional 4,584 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.
Lam Research Trading Down 6.4% NASDAQ:LRCX opened at $252.35 on Thursday. The firm has a market cap of $315.58 billion, a PE ratio of 47.61, a price-to-earnings-growth ratio of 1.60 and a beta of 1.80. The stock has a fifty day moving average price of $341.14 and a 200 day moving average price of $275.79. Lam Research Corporation has a 12-month low of $90.93 and a 12-month high of $438.50. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35.
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.13. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.Lam Research’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Sell-side analysts anticipate that Lam Research Corporation will post 5.68 earnings per share for the current fiscal year.
Lam Research Announces Dividend The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, June 17th. Lam Research’s dividend payout ratio is presently 19.62%.
Lam Research News Roundup Here are the key news stories impacting Lam Research this week:
Positive Sentiment: Lam Research earned $1.82 per share, above the $1.69 analyst consensus and up from $1.33 a year earlier. Revenue rose 30% year over year to a record $6.72 billion, slightly exceeding estimates. Lam Research Surpasses Q4 Earnings and Revenue Estimates Positive Sentiment: The company issued substantially stronger-than-expected first-quarter fiscal 2027 guidance, calling for revenue of $7.7 billion to $8.5 billion and EPS of $2.00 to $2.30, versus consensus estimates of $7.0 billion and $1.81, respectively. Lam Research Forecasts Strong Revenue on AI Boom Positive Sentiment: Management cited robust demand for semiconductor manufacturing equipment, particularly from continued artificial-intelligence infrastructure investment and advanced chip production. The outlook suggests AI-related capital spending is supporting near-term orders. Lam Research Posts Record Quarterly Revenue Neutral Sentiment: The results were broadly viewed as a beat-and-raise report, although investors are assessing whether the unusually strong outlook is sustainable given Lam Research’s cyclical semiconductor-equipment business and elevated valuation. Negative Sentiment: LRCX remained under pressure amid a broad semiconductor pullback, tighter Federal Reserve expectations, Middle East tensions and renewed concerns that advances in Chinese lithography could alter China’s demand for foreign chipmaking equipment. These sector and geopolitical risks overshadowed the favorable quarterly figures. Lam Research Is Down After China Lithography Jitters Analyst Ratings Changes Several research analysts have weighed in on LRCX shares. Berenberg Bank increased their target price on shares of Lam Research from $265.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Mizuho boosted their price objective on Lam Research from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Wall Street Zen downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Susquehanna reiterated a “positive” rating and set a $475.00 price target (up from $385.00) on shares of Lam Research in a research note on Tuesday, June 30th. Finally, TD Cowen reissued a “buy” rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $364.04.
Get Our Latest Research Report on Lam Research
Insider Buying and Selling In related news, SVP Neil J. Fernandes sold 7,659 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $309.60, for a total value of $2,371,226.40. Following the sale, the senior vice president owned 58,470 shares of the company’s stock, valued at $18,102,312. This trade represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the transaction, the director owned 199,205 shares of the company’s stock, valued at $69,881,114. This represents a 21.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 98,611 shares of company stock worth $32,250,190. Company insiders own 0.31% of the company’s stock.
Lam Research Profile (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
Read More Five stocks we like better than Lam Research Why SK hynix Could Be the Best AI Chip Stock to Buy Now Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead? Why Bloom Energy May Be the Most Important AI Infrastructure Stock
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Arete Wealth Advisors LLC trimmed its position in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 43.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,174 shares of the semiconductor company’s stock after selling 10,317 shares during the period. Arete Wealth Advisors LLC’s holdings in Lam Research were worth $2,813,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of LRCX. Opal Capital LLC lifted its position in shares of Lam Research by 14.3% in the first quarter. Opal Capital LLC now owns 3,392 shares of the semiconductor company’s stock valued at $725,000 after acquiring an additional 425 shares in the last quarter. Amundi lifted its holdings in Lam Research by 23.7% in the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock valued at $2,168,107,000 after purchasing an additional 1,942,862 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Lam Research by 14.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,009 shares of the semiconductor company’s stock valued at $2,139,000 after purchasing an additional 1,252 shares in the last quarter. Core Wealth Advisors Inc. acquired a new position in Lam Research during the first quarter worth about $209,000. Finally, Riposte Capital LLC purchased a new stake in Lam Research during the 1st quarter valued at about $11,751,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes LRCX has been the subject of a number of analyst reports. Weiss Ratings upgraded Lam Research from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. B. Riley Financial raised their target price on Lam Research from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Mizuho lifted their price target on Lam Research from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Lam Research from $300.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $450.00 price objective (up from $365.00) on shares of Lam Research in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $364.04.
View Our Latest Report on LRCX
Trending Headlines about Lam Research Here are the key news stories impacting Lam Research this week:
Positive Sentiment: Lam Research earned $1.82 per share, above the $1.69 analyst consensus and up from $1.33 a year earlier. Revenue rose 30% year over year to a record $6.72 billion, slightly exceeding estimates. Lam Research Surpasses Q4 Earnings and Revenue Estimates Positive Sentiment: The company issued substantially stronger-than-expected first-quarter fiscal 2027 guidance, calling for revenue of $7.7 billion to $8.5 billion and EPS of $2.00 to $2.30, versus consensus estimates of $7.0 billion and $1.81, respectively. Lam Research Forecasts Strong Revenue on AI Boom Positive Sentiment: Management cited robust demand for semiconductor manufacturing equipment, particularly from continued artificial-intelligence infrastructure investment and advanced chip production. The outlook suggests AI-related capital spending is supporting near-term orders. Lam Research Posts Record Quarterly Revenue Neutral Sentiment: The results were broadly viewed as a beat-and-raise report, although investors are assessing whether the unusually strong outlook is sustainable given Lam Research’s cyclical semiconductor-equipment business and elevated valuation. Negative Sentiment: LRCX remained under pressure amid a broad semiconductor pullback, tighter Federal Reserve expectations, Middle East tensions and renewed concerns that advances in Chinese lithography could alter China’s demand for foreign chipmaking equipment. These sector and geopolitical risks overshadowed the favorable quarterly figures. Lam Research Is Down After China Lithography Jitters Insider Activity In other news, Director Eric Brandt sold 54,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the sale, the director owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. This represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the transaction, the director directly owned 87,142 shares of the company’s stock, valued at approximately $29,192,570. The trade was a 17.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 98,611 shares of company stock valued at $32,250,190. 0.31% of the stock is currently owned by corporate insiders.
Lam Research Price Performance Lam Research stock opened at $252.35 on Thursday. The company’s 50 day simple moving average is $341.14 and its 200-day simple moving average is $275.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. Lam Research Corporation has a 1 year low of $90.93 and a 1 year high of $438.50. The company has a market capitalization of $315.58 billion, a price-to-earnings ratio of 47.61, a price-to-earnings-growth ratio of 1.60 and a beta of 1.80.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.13. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter last year, the company posted $1.33 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, equities research analysts expect that Lam Research Corporation will post 5.68 earnings per share for the current year.
Lam Research Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, June 17th. Lam Research’s dividend payout ratio (DPR) is currently 19.62%.
Lam Research Company Profile (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
Further Reading Five stocks we like better than Lam Research Why SK hynix Could Be the Best AI Chip Stock to Buy Now Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead? Why Bloom Energy May Be the Most Important AI Infrastructure Stock Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX – Free Report).
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Lam Research oznámila za čtvrtletí tržby 6,72 miliardy USD a zisk na akcii 1,81 USD, obojí na rekordní úrovni. Na další čtvrtletí očekává tržby 8,10 miliardy USD.
, /PRNewswire/ -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended June 28, 2026 (the "June 2026 quarter").
Highlights for the June 2026 quarter were as follows:
Revenue of $6.72 billion. U.S. GAAP gross margin as a percent of revenue of 51.7%, U.S. GAAP operating margin as a percent of revenue of 37.4%, and U.S. GAAP diluted EPS of $1.81. Non-GAAP gross margin as a percent of revenue of 52.0%, non-GAAP operating margin as a percent of revenue of 38.4%, and non-GAAP diluted EPS of $1.82. Key Financial Data for the Quarters Ended
June 28, 2026 and March 29, 2026
(in thousands, except per-share data, percentages, and basis points)
U.S. GAAP
June 2026
March 2026
Change Q/Q
Revenue
$ 6,722,238
$ 5,841,488
+15.1 %
Gross margin
51.7 %
49.8 %
+ 190 bps
Operating margin
37.4 %
35.0 %
+ 240 bps
Diluted EPS
$ 1.81
$ 1.45
+24.8 %
Non-GAAP
June 2026
March 2026
Change Q/Q
Revenue
$ 6,722,238
$ 5,841,488
+15.1 %
Gross margin
52.0 %
49.9 %
+ 210 bps
Operating margin
38.4 %
35.0 %
+ 340 bps
Diluted EPS
$ 1.82
$ 1.47
+23.8 %
U.S. GAAP Financial Results
For the June 2026 quarter, revenue was $6.72 billion, gross margin was $3.48 billion, or 51.7% of revenue, operating expenses were $965.3 million, operating margin was 37.4% of revenue, and net income was $2.28 billion, or $1.81 per diluted share on a U.S. GAAP basis. This compares to revenue of $5.84 billion, gross margin of $2.91 billion, or 49.8% of revenue, operating expenses of $863.5 million, operating margin of 35.0% of revenue, and net income of $1.83 billion, or $1.45 per diluted share, for the quarter ended March 29, 2026 (the "March 2026 quarter").
Non-GAAP Financial Results
For the June 2026 quarter, non-GAAP gross margin was $3.50 billion, or 52.0% of revenue, non-GAAP operating expenses were $916.4 million, non-GAAP operating margin was 38.4% of revenue, and non-GAAP net income was $2.28 billion, or $1.82 per diluted share. This compares to non-GAAP gross margin of $2.91 billion, or 49.9% of revenue, non-GAAP operating expenses of $866.2 million, non-GAAP operating margin of 35.0% of revenue, and non-GAAP net income of $1.85 billion, or $1.47 per diluted share, for the March 2026 quarter.
"Lam delivered record revenue, operating margin and earnings per share in the June quarter as AI-driven demand continues to reshape the semiconductor industry," said Tim Archer, Lam Research's President and Chief Executive Officer. "Our strategic investments and technology leadership are helping customers accelerate through rising manufacturing complexity, positioning Lam for a third consecutive year of outperformance in 2026."
Balance Sheet and Cash Flow Results
Cash, cash equivalents, and restricted cash balances increased to $5.60 billion at the end of the June 2026 quarter compared to $4.77 billion at the end of the March 2026 quarter. The increase was primarily driven by cash generated from operating activities, partially offset by cash deployed for capital return activities during the quarter.
Deferred revenue at the end of the June 2026 quarter increased to $2.43 billion compared to $2.22 billion as of the end of the March 2026 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $490.2 million as of June 28, 2026 and $434.3 million as of March 29, 2026.
Revenue
The geographic distribution of revenue during the June 2026 quarter is shown in the following table:
Region
Revenue
Taiwan
27 %
China
26 %
Korea
20 %
Japan
9 %
United States
9 %
Southeast Asia
5 %
Europe
4 %
The following table presents revenue disaggregated between systems and customer support-related revenue:
Three Months Ended
June 28,
2026
March 29,
2026
June 29,
2025
(In thousands)
Systems revenue
$ 4,249,848
$ 3,730,582
$ 3,437,625
Customer support-related revenue and other
2,472,390
2,110,906
1,733,768
$ 6,722,238
$ 5,841,488
$ 5,171,393
Systems revenue includes sales of new leading-edge equipment in deposition, etch and other wafer fabrication markets.
Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.
Outlook
For the quarter ended September 27, 2026, Lam is providing the following guidance:
U.S. GAAP
Reconciling
Items
Non-GAAP
Revenue
$8.10 Billion
+/-
$400 Million
—
$8.10 Billion
+/-
$400 Million
Gross margin
52.0 %
+/-
1 %
$ 2.7
Million
52.0 %
+/-
1 %
Operating margin
39.5 %
+/-
1 %
$ 3.0
Million
39.5 %
+/-
1 %
Net income per diluted share
$2.15
+/-
$0.15
$ 3.3
Million
$2.15
+/-
$0.15
Diluted share count
1.255 Billion
—
1.255 Billion
The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other items that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:
Gross margin - amortization related to intangible assets acquired through business combinations, $2.7 million. Operating margin - amortization related to intangible assets acquired through business combinations, $3.0 million. Net income per diluted share - amortization related to intangible assets acquired though business combinations, $3.0 million; amortization of debt discounts, $0.5 million; and associated tax benefit for non-GAAP items ($0.2 million); totaling $3.3 million. Use of Non-GAAP Financial Results
In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company's non-GAAP results for both the June 2026 and March 2026 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, workforce optimization charges, and the net income tax effect of non-GAAP items.
Management uses non-GAAP gross margin, operating expense, operating income, operating margin, net income, and net income per diluted share to evaluate the Company's operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company's website at https://investor.lamresearch.com.
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating margin, net income per diluted share, and diluted share count; the effect of AI-driven demand on the semiconductor industry; the rising complexity of semiconductor manufacturing and the extent to which our investments and technology leadership help customers; and our positioning for outperformance. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs, export controls and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions, export controls or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)
Consolidated Financial Tables Follow.
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data and percentages)
Three Months Ended
Twelve Months Ended
June 28,
2026
March 29,
2026
June 29,
2025
June 28,
2026
June 29,
2025
(unaudited)
(unaudited)
(unaudited)
(unaudited)
(1)
Revenue
$ 6,722,238
$ 5,841,488
$ 5,171,393
$ 23,232,690
$ 18,435,591
Cost of goods sold
3,243,498
2,930,961
2,581,684
11,507,382
9,456,532
Gross margin
3,478,740
2,910,527
2,589,709
11,725,308
8,979,059
Gross margin as a percent of revenue
51.7 %
49.8 %
50.1 %
50.5 %
48.7 %
Research and development
642,922
583,200
580,178
2,375,873
2,096,387
Selling, general and administrative
322,330
280,311
268,403
1,149,640
981,704
Total operating expenses
965,252
863,511
848,581
3,525,513
3,078,091
Operating income
2,513,488
2,047,016
1,741,128
8,199,795
5,900,968
Operating margin
37.4 %
35.0 %
33.7 %
35.3 %
32.0 %
Other income (expense), net
41,654
(35,460)
37,853
62,678
57,161
Income before income taxes
2,555,142
2,011,556
1,778,981
8,262,473
5,958,129
Income tax expense
(277,860)
(186,096)
(58,893)
(997,077)
(599,912)
Net income
$ 2,277,282
$ 1,825,460
$ 1,720,088
$ 7,265,396
$ 5,358,217
Net income per share:
Basic
$ 1.82
$ 1.46
$ 1.35
$ 5.79
$ 4.17
Diluted
$ 1.81
$ 1.45
$ 1.35
$ 5.76
$ 4.15
Number of shares used in per share calculations:
Basic
1,251,286
1,249,728
1,274,279
1,255,079
1,286,101
Diluted
1,256,032
1,257,325
1,276,933
1,261,102
1,290,142
Cash dividend declared per common share
$ 0.26
$ 0.26
$ 0.23
$ 1.04
$ 0.92
(1)
Derived from audited financial statements
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
June 28,
2026
March 29,
2026
June 29,
2025
(unaudited)
(unaudited)
(1)
ASSETS
Cash and cash equivalents
$ 5,579,171
$ 4,750,936
$ 6,390,659
Accounts receivable, net
5,339,682
4,132,890
3,378,071
Inventories
4,276,111
3,999,992
4,307,991
Prepaid expenses and other current assets
415,741
413,099
440,274
Total current assets
15,610,705
13,296,917
14,516,995
Property and equipment, net
2,956,472
2,853,614
2,428,744
Goodwill and intangible assets
1,895,859
1,882,017
1,808,685
Other assets
3,066,707
2,759,362
2,590,836
Total assets
$ 23,529,743
$ 20,791,910
$ 21,345,260
LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt and finance lease obligations
$ 4,073
$ 4,095
$ 754,311
Other current liabilities
5,933,176
5,238,303
5,814,114
Total current liabilities
5,937,249
5,242,398
6,568,425
Long-term debt and finance lease obligations
3,730,490
3,730,384
3,730,194
Income taxes payable
681,197
621,572
603,412
Other long-term liabilities
709,886
612,777
581,610
Total liabilities
11,058,822
10,207,131
11,483,641
Stockholders' equity (2)
12,470,921
10,584,779
9,861,619
Total liabilities and stockholders' equity
$ 23,529,743
$ 20,791,910
$ 21,345,260
(1)
Derived from audited financial statements
(2)
Common shares issued and outstanding were 1,251,278 as of June 28, 2026, 1,250,539 as of March 29, 2026, and 1,268,740 as of June 29, 2025
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended
Twelve Months Ended
June 28,
2026
March 29,
2026
June 29,
2025
June 28,
2026
June 29,
2025
(unaudited)
(unaudited)
(unaudited)
(unaudited)
(1)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
$ 2,277,282
$ 1,825,460
$ 1,720,088
$ 7,265,396
$ 5,358,217
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization
119,642
116,322
98,439
441,533
386,277
Deferred income taxes
(175,752)
(19,478)
(151,679)
(289,062)
(363,247)
Equity-based compensation expense
103,985
96,616
94,286
386,381
343,371
Other, net
(8,006)
(2,855)
14,240
(32,712)
6,845
Changes in operating assets and liabilities
(859,923)
(874,645)
778,814
(1,913,879)
441,801
Net cash provided by operating activities
1,457,228
1,141,420
2,554,188
5,857,657
6,173,264
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures and intangible assets
(188,801)
(331,604)
(172,191)
(966,405)
(759,186)
Other, net
45,060
(2,976)
42,940
44,253
51,094
Net cash used for investing activities
(143,741)
(334,580)
(129,251)
(922,152)
(708,092)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on debt, including finance lease
obligations and payments for debt issuance costs
(1,355)
(751,194)
(1,485)
(755,428)
(507,488)
Treasury stock purchases, including excise tax payments
(246,560)
(1,162,837)
(1,292,277)
(3,851,343)
(3,422,321)
Dividends paid
(325,318)
(325,829)
(295,207)
(1,270,635)
(1,149,542)
Reissuance of treasury stock related to employee stock
purchase plan
88,780
—
79,556
155,965
140,113
Proceeds from issuance of common stock
4,426
9,167
696
17,447
2,452
Other, net
(282)
55
(820)
(13,793)
143
Net cash used for financing activities
(480,309)
(2,230,638)
(1,509,537)
(5,717,787)
(4,936,643)
Effect of exchange rate changes on cash, cash equivalents,
and restricted cash
(2,056)
(4,979)
29,284
(27,431)
28,324
Net change in cash, cash equivalents, and restricted cash
831,122
(1,428,777)
944,684
(809,713)
556,853
Cash, cash equivalents, and restricted cash at beginning of
period (2)
4,766,821
6,195,598
5,462,972
6,407,656
5,850,803
Cash, cash equivalents, and restricted cash at end of period
(2)
$ 5,597,943
$ 4,766,821
$ 6,407,656
$ 5,597,943
$ 6,407,656
(1)
Derived from audited financial statements
(2)
Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets
Non-GAAP Financial Summary
(in thousands, except percentages and per share data)
(unaudited)
Three Months Ended
June 28,
2026
March 29,
2026
Revenue
$ 6,722,238
$ 5,841,488
Gross margin
$ 3,497,336
$ 2,913,123
Gross margin as percent of revenue
52.0 %
49.9 %
Operating expenses
$ 916,420
$ 866,166
Operating income
$ 2,580,916
$ 2,046,957
Operating margin
38.4 %
35.0 %
Net income
$ 2,279,968
$ 1,851,442
Net income per diluted share
$ 1.82
$ 1.47
Shares used in per share calculation - diluted
1,256,032
1,257,325
Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income
(in thousands, except per share data)
(unaudited)
Three Months Ended
June 28,
2026
March 29,
2026
U.S. GAAP net income
$ 2,277,282
$ 1,825,460
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations - cost of goods sold
2,668
2,668
Elective deferred compensation ("EDC") related liability valuation increase (decrease) - cost of goods sold
15,379
(6,476)
Workforce optimization charges - cost of goods sold
549
6,404
EDC related liability valuation increase (decrease) - research and development
27,682
(11,656)
Workforce optimization charges - research and development
960
9,437
Amortization related to intangible assets acquired through certain business combinations - selling, general and
administrative
348
348
EDC related liability valuation increase (decrease) - selling, general and administrative
18,454
(7,771)
Workforce optimization charges - selling, general and administrative
1,388
6,987
Amortization of note discounts - other income (expense), net
504
674
(Gain) loss on EDC related asset - other income (expense), net
(61,325)
27,265
Net income tax benefit on non-GAAP items
(3,921)
(1,898)
Non-GAAP net income
$ 2,279,968
$ 1,851,442
Non-GAAP net income per diluted share
$ 1.82
$ 1.47
U.S. GAAP net income per diluted share
$ 1.81
$ 1.45
U.S. GAAP and non-GAAP number of shares used for per diluted share calculation
1,256,032
1,257,325
Reconciliation of U.S. GAAP Gross Margin, Operating Expenses, Operating Income and Operating Margin to Non-GAAP
Gross Margin, Operating Expenses, Operating Income and Operating Margin
(in thousands, except percentages)
(unaudited)
Three Months Ended
June 28,
2026
March 29,
2026
U.S. GAAP gross margin
$ 3,478,740
$ 2,910,527
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations
2,668
2,668
EDC related liability valuation increase (decrease)
15,379
(6,476)
Workforce optimization charges
549
6,404
Non-GAAP gross margin
$ 3,497,336
$ 2,913,123
U.S. GAAP gross margin as a percent of revenue
51.7 %
49.8 %
Non-GAAP gross margin as a percent of revenue
52.0 %
49.9 %
U.S. GAAP operating expenses
$ 965,252
$ 863,511
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations
(348)
(348)
EDC related liability valuation (increase) decrease
Lam Research (NASDAQ:LRCX – Get Free Report) is expected to be posting its Q4 2026 results after the market closes on Wednesday, July 29th. Analysts expect the company to post earnings of $1.69 per share and revenue of $6.6586 billion for the quarter. Parties are encouraged to explore the company’s upcoming Q4 2026 earning report page for the latest details on the call scheduled for Wednesday, July 29, 2026 at 5:00 PM ET.
Lam Research Stock Down 4.5% Shares of LRCX stock opened at $291.61 on Tuesday. Lam Research has a 12 month low of $90.93 and a 12 month high of $438.50. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $364.68 billion, a PE ratio of 55.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.80. The stock has a 50 day moving average of $342.02 and a 200-day moving average of $274.96.
Lam Research Announces Dividend The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Lam Research’s payout ratio is 19.62%.
Wall Street Analyst Weigh In Several equities analysts recently commented on the stock. Seaport Research Partners began coverage on shares of Lam Research in a research note on Monday, May 4th. They set a “buy” rating and a $300.00 target price for the company. Cantor Fitzgerald set a $500.00 price target on shares of Lam Research and gave the stock an “overweight” rating in a research report on Monday, June 29th. Mizuho boosted their price objective on shares of Lam Research from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings raised shares of Lam Research from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Lam Research from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $363.37.
View Our Latest Stock Analysis on LRCX
Insider Activity at Lam Research In other Lam Research news, SVP Neil J. Fernandes sold 18,170 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the sale, the senior vice president directly owned 66,129 shares of the company’s stock, valued at approximately $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the sale, the director directly owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. The trade was a 21.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,611 shares of company stock valued at $32,250,190 in the last ninety days. Insiders own 0.31% of the company’s stock.
Institutional Inflows and Outflows Institutional investors and hedge funds have recently modified their holdings of the business. Mcguire Capital Advisors Inc. bought a new stake in Lam Research during the 4th quarter worth approximately $27,000. Wilkerson Advisory Group LLC acquired a new stake in Lam Research during the 4th quarter valued at $33,000. Triumph Capital Management bought a new position in Lam Research in the 3rd quarter valued at $27,000. Jessup Wealth Management Inc bought a new position in Lam Research in the 4th quarter valued at $38,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Lam Research by 4,100.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 252 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 246 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Company Profile (Get Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Lam Research před výsledky 29. července těží z poptávky po AI: tržby v posledním čtvrtletí vzrostly o 23,76 % na 5,84 miliardy USD a provozní marže se rozšířila na 35,0 %.
Lam Research (NASDAQ:LRCX | LRCX Price Prediction) enters its July 29 Q4 earnings report with AI spending driving record results across its semiconductor equipment business. Revenue grew nearly 24% last quarter, operating margins continued to expand, and management raised its 2026 wafer fabrication equipment forecast to $140 billion with additional upside possible.
Lam’s Earnings Are Growing Nearly Twice as Fast as Revenue Lam has posted four consecutive EPS beats, most recently delivering $1.47 against a $1.3628 estimate on revenue of $5.84 billion, up 23.76% year over year. Non-GAAP operating margin expanded to 35.0% from 33.9%, and Q4 guidance calls for $6.60 billion in revenue and $1.65 in EPS at a 36.5% operating margin. Full-year FY25 net income grew 39.98%, reflecting genuine operating leverage.
A $140 Billion Upcoming Equipment Cycle CEO Tim Archer raised the 2026 wafer fab equipment outlook to “$140 billion with a bias to the upside“ from $135 billion, and flagged that roughly $40 billion in NAND conversion spending is being pulled forward, with the majority landing before the end of calendar 2027.
Archer told investors, “Lam delivered record revenue and EPS in the March quarter as AI-driven demand reshapes the semiconductor industry.” Deferred Japan shipments awaiting acceptance jumped to $434 million from $226 million, which signals growing backlog.
Lam Returned More Than $1B to Investors Last Quarter Lam returned $1.16 billion in buybacks in a single quarter and pays a $0.26 quarterly dividend, with $4.3 billion remaining on the repurchase authorization.
With 25 Buy and 4 Strong Buy ratings against 1 Sell and an analyst target of $372.32, Lam Research looks attractive at its current price of $283.58.
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Lam Is Cheaper and Growing Faster Than KLA KLA Corporation (NASDAQ:KLAC) trades at a forward P/E of 41x with quarterly earnings growth of just 11.8% and revenue growth of 11.5%. Lam trades a touch cheaper with a forward P/E of 38x, but the business is seeing much higher growth, with quarterly earnings growth of 40.8% on 23.8% revenue growth.
Applied Materials (NASDAQ:AMAT) is closer on valuation at 34x forward, but its 11.4% revenue growth tells the same story. Lam is growing fastest while returning the most capital through buybacks and dividends.
China Is a Risk, but Growth Is Already Broadening China concentration sits at 34% of revenue, and prediction markets place a 71% probability on that mix staying below 34% in Q4. Revenue still expanded 23.76% year over year under the current export control regime, with Korea and Taiwan each contributing $1.34 billion.
With margins expanding, billions remaining for buybacks, and semiconductor equipment spending expected to reach $140 billion this year, the July 29 report could reinforce Lam’s position as a leading way to invest in the AI chip buildout.
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Lam Research čeká za čtvrtletí zisk 1,69 USD na akcii, meziročně o 27,1 % více, a tržby 6,67 miliardy USD, o 29 % více. Konsenzus EPS byl za posledních 30 dní zvýšen o 1,3 % a analytici čekají další překonání odhadů.
Lam Research (LRCX - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on July 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis semiconductor equipment maker is expected to post quarterly earnings of $1.69 per share in its upcoming report, which represents a year-over-year change of +27.1%.
Revenues are expected to be $6.67 billion, up 29% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.25% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Lam Research?For Lam Research, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.38%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that Lam Research will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Lam Research would post earnings of $1.36 per share when it actually produced earnings of $1.47, delivering a surprise of +8.09%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Lam Research appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAmong the stocks in the Zacks Electronics - Semiconductors industry, Lam Research (LRCX - Free Report) , is soon expected to post earnings of $1.69 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +27.1%. This quarter's revenue is expected to be $6.67 billion, up 29% from the year-ago quarter.
The consensus EPS estimate for Lam Research has been revised 1.3% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +1.38%.
This Earnings ESP, combined with its Zacks Rank #2 (Buy), suggests that Lam Research will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Baader Bank Aktiengesellschaft boosted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 123.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,530 shares of the semiconductor company’s stock after acquiring an additional 9,126 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Lam Research were worth $3,435,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Lam Research by 0.4% during the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company’s stock valued at $8,024,684,000 after acquiring an additional 265,805 shares during the period. Geode Capital Management LLC grew its position in Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company’s stock valued at $5,764,117,000 after acquiring an additional 126,613 shares in the last quarter. Invesco Ltd. increased its stake in Lam Research by 7.7% during the fourth quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company’s stock worth $3,906,559,000 after purchasing an additional 1,638,406 shares during the period. Norges Bank purchased a new stake in Lam Research during the fourth quarter worth about $3,645,427,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock worth $2,344,347,000 after purchasing an additional 10,666,540 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Analysts Set New Price Targets LRCX has been the subject of several recent research reports. Erste Group Bank cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Needham & Company LLC increased their price objective on Lam Research from $300.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, July 10th. BNP Paribas Exane lifted their target price on Lam Research from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. B. Riley Financial boosted their target price on Lam Research from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Zacks Research downgraded Lam Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Twenty-eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $360.51.
Read Our Latest Research Report on Lam Research
Lam Research Stock Down 2.1% Lam Research stock opened at $306.76 on Tuesday. The stock has a market cap of $383.62 billion, a PE ratio of 57.88, a P/E/G ratio of 1.86 and a beta of 1.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77. The stock’s fifty day moving average is $339.79 and its two-hundred day moving average is $270.54. Lam Research Corporation has a 1-year low of $90.93 and a 1-year high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company earned $1.04 earnings per share. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, sell-side analysts expect that Lam Research Corporation will post 5.68 EPS for the current fiscal year.
Lam Research Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research’s dividend payout ratio (DPR) is currently 19.62%.
Key Headlines Impacting Lam Research Here are the key news stories impacting Lam Research this week:
Positive Sentiment: Lam Research joined the AI Materials Foundry as a founding partner, a new CuspAI-led initiative focused on using AI and shared lab resources to speed up discovery of advanced semiconductor materials, which could support future product and technology demand. Lam Research (LRCX) Joins AI Materials Foundry To Help Shape Future Chip Materials Positive Sentiment: Lam Research was highlighted by Zacks as one of the semiconductor names benefiting from the AI boom, which continues to drive demand for advanced chips and equipment. 3 Stocks to Buy From the Prospering Semiconductor Industry Positive Sentiment: Another Zacks note said LRCX is among the tech stocks likely to deliver earnings surprises this season, reinforcing expectations for solid near-term fundamentals. 4 Top-Ranked Tech Stocks Set to Beat Expectations This Earnings Season Neutral Sentiment: Brokerages reportedly maintained a consensus “Moderate Buy” rating on Lam Research, suggesting Wall Street remains constructive but not overly aggressive on the stock. Lam Research Corporation Given Consensus Recommendation of “Moderate Buy” by Brokerages Neutral Sentiment: Oppenheimer included LRCX on its “best of the best” momentum list, another sign of positive sentiment but not a new fundamental catalyst by itself. Oppenheimer’s ‘best of the best’ momentum list: NVDA, LRCX and more Negative Sentiment: Lam Research slipped more than the broader market in the latest session, reflecting near-term pressure on the shares. Lam Research (LRCX) Dips More Than Broader Market: What You Should Know Negative Sentiment: Broader semiconductor stocks have entered a bear market, and investors are questioning whether the AI-driven rally has overheated, which is weighing on the entire chip group including LRCX. Semiconductor stocks enter bear market: Is bubble burst next? Negative Sentiment: A Bloomberg report noted that investors are pressuring big AI spenders to justify their capital outlays, adding caution to the semiconductor and AI hardware trade. Big Tech Needs to Justify AI Spending as Investors Dump Stocks Insider Activity In related news, SVP Neil J. Fernandes sold 18,170 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the completion of the transaction, the senior vice president directly owned 66,129 shares of the company’s stock, valued at $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the sale, the director owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. The trade was a 21.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 104,621 shares of company stock valued at $33,804,737. Corporate insiders own 0.31% of the company’s stock.
About Lam Research (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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ASE Technology těží ze silné poptávky po AI pouzdření čipů; tržby ASE Technology ve 1. čtvrtletí dosáhly rekordních NTD 112,4 miliardy, mezikvartálně +2 % a meziročně +30 %.
Key Takeaways ASE Technology is benefiting from strong AI packaging demand, record ATM revenues and LEAP expansion.LRCX faces China export risks and exposure to memory spending cycles despite strong packaging growth.ASX trades at a much lower trailing sales multiple than LRCX, offering a more attractive valuation. ASE Technology Holding (ASX - Free Report) and Lam Research (LRCX - Free Report) are both important players in the semiconductor industry, but they operate in different parts of the supply chain. ASE Technology is a major player in outsourced semiconductor assembly and testing, offering advanced packaging and testing services for AI, high-performance computing and automotive chips, while Lam Research provides wafer fabrication equipment that enables chipmakers to manufacture advanced semiconductors.
Both ASX and LRCX are well-positioned to benefit from the rising demand for AI chips, as hyperscalers continue to increase investments in AI infrastructure. However, from an investment point of view, one stock offers a more favorable outlook than the other right now. Let’s break down their fundamentals, growth prospects, market challenges and valuation to determine which stock offers a more compelling investment case.
The Case for ASE Technology StockASE Technology is benefiting from the growing demand for AI chip packaging. In the first quarter of 2026, ASX's Assembly, Testing and Materials (ATM) business performed better than expected, despite having fewer working days and did not see the usual seasonal slowdown. Management said AI-related products are changing the normal demand pattern, helping reduce the impact of seasonality on the business.
Advanced packaging continues to be the main growth driver. ASE reported record ATM revenues of NTD 112.4 billion in the first quarter, up 2% sequentially and 30% year over year. Higher factory utilization and a larger contribution from Leading Edge Advanced Packaging (LEAP) services were the key contributors to growth. The company said demand for AI and computing products remained strong, while growth in advanced packaging and wirebond services helped offset softer demand in some consumer markets.
ASE Technology is also increasing investments to support future growth. The company raised its 2026 capital spending plan and increased its LEAP revenue outlook by 10%. It now expects LEAP revenues to exceed $3.5 billion in 2026. Management said the additional investment will help expand capacity to meet growing customer demand and help drive further growth in the company's LEAP in the upcoming years.
The company is seeing demand not only from AI accelerator chips but also from AI-related power management, connectivity, sensors and edge devices. At the same time, it is expanding its advanced packaging technologies, including full-process packaging, CoWoS-like packaging and panel-level packaging, to support future AI applications. If AI infrastructure spending remains strong, ASE Technology is well-positioned to benefit from the growing demand for advanced semiconductor packaging.
The Case for Lam Research StockLam Research expects its advanced packaging business to be one of its fastest-growing businesses in 2026. Revenues from the advanced packaging business are expected to grow more than 50% in 2026. Management said AI is increasing demand for advanced packaging because AI chips need higher performance, higher bandwidth and better power efficiency than traditional chips.
LRCX supplies equipment used in key advanced packaging processes, including through-silicon via etch and copper plating. These technologies are used to connect chips and memory more efficiently in AI systems. As semiconductor companies build more AI processors and high-bandwidth memory, they need more advanced packaging equipment, creating additional demand for Lam Research's products.
The advanced packaging business is already contributing to LRCX's growth. In the third quarter of fiscal 2026, foundry revenues increased 35% year over year, and management said advanced packaging remained a strong growth area. The company also continues to gain market share in its PECVD business, helped by demand for advanced packaging applications.
LRCX expects demand for advanced packaging to continue to grow as AI infrastructure spending increases. The company expects more chipmakers to adopt advanced packaging technologies as AI chips become more complex. This trend should position advanced packaging to become an important contributor to LRCX's revenue growth over the next few years.
However, risks and uncertainties related to trade restrictions on exporting semiconductor tools to China do not bode well for Lam Research. Management expects China revenues to decline in the fourth quarter of fiscal 2026, while China’s wafer fabrication equipment spending is expected to remain roughly flat year over year. Further, the company remains heavily exposed to memory spending cycles, particularly NAND and DRAM. Any slowdown in AI memory demand or delays in customer spending could hurt growth.
How do Earnings Estimates Compare for ASX & LRCX?The Zacks Consensus Estimate for ASX’s 2026 and 2027 EPS is pegged at 84 cents and $1.45, respectively. The estimates for 2026 and 2027 have been revised up by 2.4% and 23.9%, respectively, over the past 30 days.
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The Zacks Consensus Estimate for LRCX’s fiscal 2026 and 2027 EPS is pegged at $5.68 and $7.93, respectively. The estimates for fiscal 2026 have remained unchanged over the past 30 days, while the same for fiscal 2027 have been revised up by 0.5% over the past seven days.
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ASX vs. LRCX: Price Performance and ValuationYear to date, shares of ASX and LRCX have surged 150.7% and 102.8%, respectively.
ASX Vs. LRCX: YTD Price Return Performance
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Currently, ASX is trading at a trailing 12-month P/S ratio of 4.20X, significantly lower than LRCX’s trailing 12-month P/S multiple of 20.07X. ASX’s reasonable valuation makes it more attractive for investors looking for value and stability.
ASX vs. LRCX: TTM 12-Month P/S Ratio
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Conclusion: ASX Has an Edge Over LRCXBoth ASX and LRCX are benefiting from growing demand for AI chips and advanced packaging. However, LRCX continues to face uncertainty related to semiconductor export restrictions to China and remains exposed to memory spending cycles, which could hurt the company’s prospects.
In contrast, ASE Technology continues to benefit from strong demand for AI chip packaging, supported by strong demand from AI and high-performance computing. Further, ASX’s reasonable valuation offers some downside protection as well, making the stock an attractive buy.
Currently, ASX sports a Zacks Rank #1 (Strong Buy), giving a clear edge over LRCX, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Morgan Stanley označila GE Vernova, Lam Research a United Airlines za své top tipy před výsledkovou sezonou a čeká u nich silné kvartální výsledky. U GE Vernova navíc čeká lepší než očekávaná čísla po výsledcích 22. července.
Morgan Stanley has identified three stocks that could outperform as the second-quarter earnings season gets underway. The Wall Street bank highlighted GE Vernova NYSE:GEV, Lam Research (NASDAQ: LRCX), and United Airlines (NASDAQ: UAL) among its top picks, citing expectations that they will deliver strong quarterly earnings.
GE Vernova stock has done well this year, helped by the rising demand for power equipment amid the artificial intelligence boom. It has soared by 61% this year and by nearly 100% in the last 12 months.
Recently, however, the stock has wavered and now sits a few points below its all-time high. Even so, Morgan Stanley analysts believe that the company will bounce back after its earnings on July 22. It expects it to publish stronger-than-expected numbers, helped by its new gas turbine contracts.
The management has already hinted that it will sell out its gas turbines reservations through 2030. Morgan Stanley’s Michael Wilson said:
“Capex is broadening beyond data centers and reshoring progress suggests the U.S. industrial economy may be entering a sustained growth cycle as international production becomes more expensive than domestic.”
MarketBeat data shows that the average target for GEV stock among analysts is $1,089, slightly above the current $1,067. Bernstein has a target of $1,206, while Jefferies recently lowered the target to $1,210 from the previous $1,350.
Morgan Stanley is also bullish on United Airlines as it expects the giant to issue a positive forward guidance for the rest of the year. Its stock has jumped by 7% this year and by 43% from its lowest point this year. This rebound happened as the US and Iran started their ceasefire, which brought jet fuel prices lower.
The risk, however, is that the two countries have resumed their fighting, pushing oil prices higher. Brent and WTI have all jumped to over $80 this week, which will translate into higher jet fuel prices. Morgan Stanley wrote:
“Airline demand and booking intent remain healthy, with seven consecutive price increases absorbed without demand destruction. With oil prices moving lower, airlines are unlikely to roll back pricing, though sustained demand will remain the key test.”
Analysts are largely bullish on the stock, with those from Susquehanna, Cowen, Goldman Sachs, BMO, and Bernstein boosting their targets this month.
READ MORE: Top reasons a United Airlines and American merger is unlikely to happen
Morgan Stanley analysts are also bullish on Lam Research, a company whose stock has more than doubled this year. After hitting a record high of $437 in June, Lam shares have dropped by 20% to the current $346.
Morgan Stanley believes that the company will release better-than-estimated revenue and earnings. It will then boost its earnings per share as it has done in the past. The statement said:
“AI demand remains robust with rising token prices and continued strength across the ecosystem despite recent market pullbacks. New equipment orders are improving.”
Analysts are also bullish on Lam Research even as its valuation concerns remain. The company has a forward price-to-earnings ratio of 62, much higher than other top companies like Nvidia, Micron, and SanDisk.
Stifel raised its target from $325 to $425, while Needham boosted the target from $300 to $390. Other analysts who boosted their target for the shares are from Mizuho, Susquehanna, and Cantor Fitzgerald.
READ MORE: Applied Materials stock jumps as Meta AI chip plan lifts semiconductor names
Dan Ives označil paměťové čipy za „zlaté dítě“ AI revoluce a vidí poměr poptávky k nabídce 15:1. Podle něj se rovnováha na trhu nevrátí nejdřív do roku 2028.
Wedbush Securities tech strategist Dan Ives argued on CNBC on Monday that memory chips have become the most valuable slice of the AI supply chain, and that SK Hynix’s blockbuster U.S. listing debut on Friday is the clearest signal yet that capital is rotating toward American-listed AI infrastructure names. “Those are the golden child really of this AI revolution. The reality is you’re not going to have equilibrium in terms of demand and supply at least until 2028.”
Ives quantified the supply and demand imbalance he sees: “We continue to think demand [to] supply 15 to 1 in terms of the chips,” he said, adding that for the first time in 30 years, the U.S. is ahead of China in tech, a shift he expects will draw more foreign listings to New York.
Micron Is the Purest U.S. Play on the AI Memory Shortage The clearest expression of the memory rerating is Micron Technology (NASDAQ:MU | MU Price Prediction). Shares are up 243.33% year to date and 696.76% over the past year, carrying the company to a $1.1 trillion market cap. Fiscal Q3 revenue reached $41.456 billion, up 345.72% year over year, with GAAP gross margin expanding to 84.6% and non-GAAP EPS of $25.11 beating consensus expectations. Guidance calls for Q4 revenue of $50.0 billion ± $1.0 billion and roughly 86% gross margin.
CEO Sanjay Mehrotra told investors that “AI demand is driving DRAM and NAND data center bits TAM to exceed 50% of the industry TAM for the first time in calendar 2026” and that Micron can currently fulfill only “50% to two-thirds” of some customers’ demand. That is the supply squeeze Ives is monetizing thematically.
Why Dan Ives Still Likes Nvidia Ives argued that NVIDIA (NASDAQ:NVDA) and the hyperscalers have become “the shiny new toy, shiny new object in terms of memory. The ones that are actually at the center, whether it’s the hyperscalers or Nvidia, those are almost in the penalty box.”
Ives believes Nvidia still plays a central role in the AI industry: “There’s one chip in the world fueling the AI revolution, and that’s led by the godfather of AI, Nvidia. Where is memory without Nvidia? Where’s memory without the hyperscalers?”
Ives cited that NVIDIA trades at its lowest valuation since 2019, even as Q1 FY2027 revenue hit $81.61 billion, with Data Center at $75.25 billion. The stock trades at a forward P/E of 24 and closed at $203.53 on Monday against an analyst target price of $301.62.
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TSMC Confirms the AI Chip Boom Is Still Accelerating Ives pointed to Taiwan Semiconductor Manufacturing (NYSE:TSM) as a confirmation signal that the AI boom is accelerating. June revenue jumped 67.9% year over year to NT$442.68 billion, with first-half 2026 cumulative revenue of NT$2,404.48 billion, up 35.6%. Q2 results land July 16, 2026, three days from Ives’s segment. The stock is up 43.57% year-to-date.
Companies Making Money From the Memory-Chip Supercycle Broadcom (NASDAQ:AVGO) posted Q2 AI semiconductor revenue of $10.80 billion, up 143% year over year, and guided Q3 AI revenue to $16.00 billion, over 200% growth. CEO Hock Tan tied the growth to “increasing demand for custom AI accelerators and AI networking.”
Lam Research (NASDAQ:LRCX) sells the deposition and etch tools that make HBM possible. Fiscal Q3 revenue reached $5.84 billion, up 23.8% year over year, with June-quarter guidance of $6.60 billion. South Korea and Taiwan together account for 46% of revenue, direct exposure to the SK Hynix and TSMC HBM ramps. Shares are up 105.04% year to date.
Key Takeaways Ives’s broader argument is that memory chips have become one of the most valuable and supply-constrained parts of the AI infrastructure buildout. Micron offers the clearest direct exposure among U.S. companies, while NVIDIA, TSMC, Broadcom, and Lam Research each provide exposure to a different layer of the same investment cycle.
The next major signals to watch include TSMC’s July 16 earnings report, the start of HBM4E volume production in 2027, and any additional U.S. listings from Asian chipmakers.
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Lam Research míří na rekordní tržby ve 4. fiskálním čtvrtletí 2026 ve výši 6,6 mld. USD, tažené poptávkou po AI čipech. Ve 3. čtvrtletí tržby meziročně vzrostly o 24 % na rekordních 5,84 mld. USD.
Key Takeaways Lam Research targets record Q4'26 revenues of $6.6B after posting $5.84B in the third quarter.AI chip demand is driving investments in advanced DRAM, HBM and leading-edge foundry technologies.LRCX's advanced packaging sales are expected to grow by over 50% in 2026 as AI processors become more complex. Lam Research Corporation (LRCX - Free Report) is slated to report its fourth-quarter fiscal 2026 results in late July, and investors must be wondering if the company will reach its record revenue target of $6.6 billion. We believe that the ongoing boom in artificial intelligence (AI) chips could help Lam Research achieve that goal. Demand for advanced semiconductor equipment continues to rise as chipmakers expand capacity for AI processors, high-bandwidth memory (HBM) and next-generation logic devices.
Lam Research delivered strong momentum in the third quarter of fiscal 2026. Revenues increased 24% year over year to a record $5.84 billion, while systems revenues climbed to $3.73 billion. Non-GAAP earnings per share jumped 41% and reached a record $1.47, while non-GAAP gross margin improved 90 basis points to 49.9%, reflecting a favorable product mix and operational execution. These results provide a solid foundation for another quarter of growth.
AI is becoming LRCX’s biggest growth engine. The company is benefiting from rising investments in advanced DRAM, HBM and leading-edge foundry technologies, all of which require Lam Research’s etch and deposition equipment. Management also expects advanced packaging revenues to grow more than 50% in calendar year 2026 as AI processors become more complex and require sophisticated chip integration technologies.
Industry conditions remain favorable. Lam Research estimates global wafer fabrication equipment spending of approximately $140 billion in calendar year 2026, reflecting stronger AI-related investments across memory and logic markets. The company also expects industry growth to continue into 2027.
If AI infrastructure spending remains robust and customers continue expanding advanced chip production, Lam Research appears well-positioned to achieve its record fourth-quarter sales target and sustain its strong growth momentum. The Zacks Consensus Estimate for fourth-quarter fiscal 2026 revenues is currently pegged at $6.67 billion, higher than the midpoint of management’s guidance range and indicating a year-over-year increase of more than 29%.
Lam Research’s Rivals Also Benefit From AI Chip DemandLRCX’s main competitors, Applied Materials, Inc. (AMAT - Free Report) and KLA Corporation (KLAC - Free Report) , are also benefiting from the AI chip boom. Both companies have broad exposure to advanced semiconductor manufacturing and are seeing strong demand from AI-related investments.
Applied Materials is Lam Research’s closest rival in wafer fabrication equipment. The company generated revenues of $7.91 billion in the second quarter of fiscal 2026, with its Semiconductor Systems segment contributing the majority of sales. Applied Materials reported record DRAM revenue and continues to benefit from growing demand for advanced logic, HBM and advanced packaging solutions used in AI servers. Its broad product portfolio positions it to capture a significant share of rising semiconductor capital spending.
KLA Corporation competes through inspection and process control equipment, which are essential for manufacturing advanced AI chips. The company’s third-quarter fiscal 2026 revenues increased 11.5% year over year to $3.42 billion as it continues to benefit from increasing process complexity at leading-edge nodes. As AI processors and HBM stacks require tighter quality control and higher production yields, KLAC's inspection tools are becoming increasingly important.
For Lam Research, sustaining record quarterly revenues will depend on maintaining its leadership in etch and deposition technologies while competing effectively with Applied Materials and KLA Corporation across the rapidly expanding AI semiconductor ecosystem.
LRCX’s Share Price Performance, Valuation and EstimatesShares of Lam Research have surged 104.6% year to date compared with the Zacks Electronics – Semiconductors industry’s rise of 50.3%.
Lam Research YTD Price Return Performance
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From a valuation standpoint, Lam Research trades at a forward price-to-earnings ratio of 43.81, significantly higher than the industry’s average of 33.34.
Lam Research Forward 12-Month P/E Ratio
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The Zacks Consensus Estimate for Lam Research’s fiscal 2026 and 2027 earnings implies a year-over-year increase of approximately 37.2% and 39.6%, respectively. Estimates for fiscal 2026 have been revised upward over the past 30 days, while estimates for fiscal 2027 have been raised northward over the past seven days.
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Lam Research currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lam Research by mohl ve 4. čtvrtletí dosáhnout hrubé marže 50,5 %, poprvé nad 50 %, díky silné poptávce po AI čipech a pokročilých nástrojích pro leptání a depozici.
Key Takeaways Lam Research targets a Q4 gross margin of 50.5%, its first guide above the 50% level.AI demand for advanced etch and deposition tools is boosting product mix and profitability.Advanced packaging revenues are expected to rise more than 50% in 2026 as AI chip investment grows. Artificial intelligence (AI) is emerging as the biggest driver of Lam Research Corporation’s (LRCX - Free Report) profitability, and it could help the company achieve a new high in the gross margin in the fourth quarter of fiscal 2026. Strong demand for advanced memory, foundry and packaging equipment is improving the product mix and allowing Lam Research to generate higher returns from its product portfolio.
In the third quarter of fiscal 2026, Lam Research reported a non-GAAP gross margin of 49.9%, up from 49.7% in the previous quarter and 49% a year ago. Revenues climbed 24% year over year to a record $5.84 billion, while non-GAAP earnings per share increased 41% to a record $1.47. The company also delivered a 35% non-GAAP operating margin, reflecting strong execution and disciplined cost management.
Management expects the momentum to continue. For the fourth quarter of fiscal 2026, Lam Research projected revenues of $6.6 billion at the midpoint and a non-GAAP gross margin of 50.5%, marking the first time the company has guided for a margin above the 50% level. This outlook is supported by higher demand for advanced etch and deposition tools used in AI chips and high-bandwidth memory production.
AI is also expanding Lam Research’s long-term growth opportunities. The company expects advanced packaging revenues to increase by more than 50% in calendar year 2026 as chipmakers invest in complex packaging technologies for AI processors. At the same time, management forecasts wafer fabrication equipment spending of about $140 billion this year.
If AI-driven investments remain strong and Lam Research continues improving its product mix, the company has a solid chance of delivering another record gross margin in the upcoming fiscal fourth quarter.
How Competitors Fare Against Lam ResearchKLA Corporation (KLAC - Free Report) and Applied Materials, Inc. (AMAT - Free Report) remain two of the biggest competitors challenging Lam Research as AI-driven semiconductor demand lifts profitability across the equipment industry.
KLA focuses on process control, inspection and yield management solutions. As AI chips become more complex, semiconductor makers need more testing and monitoring tools to improve production efficiency.
KLAC's strong exposure to advanced logic and memory manufacturing has helped it maintain healthy margins and steady cash flow growth. The company's non-GAAP gross margin has been above 60% over the past several quarters.
Applied Materials has also benefited from rising AI and memory spending. In its last reported results for the second quarter of fiscal 2026, the company generated Semiconductor Systems revenues of $5.97 billion, supported by strong DRAM and advanced packaging demand.
Applied Materials continues to invest heavily in materials engineering and advanced chip packaging technologies, areas that are becoming increasingly important for AI servers and high-bandwidth memory. In the second quarter, the company's non-GAAP gross margin expanded 80 basis points year over year to 50%.
LRCX’s Share Price Performance, Valuation and EstimatesShares of Lam Research have surged 153.9% year to date compared with the Zacks Electronics – Semiconductors industry’s rise of 54.9%.
Lam Research YTD Price Return Performance
Image Source: Zacks Investment ResearchFrom a valuation standpoint, Lam Research trades at a forward price-to-earnings ratio of 76.24, significantly higher than the industry’s average of 35.94.
Lam Research Forward 12-Month P/E Ratio
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The Zacks Consensus Estimate for Lam Research’s fiscal 2026 and 2027 earnings implies a year-over-year increase of approximately 37.2% and 38.3%, respectively. Estimates for fiscal 2026 have been revised upward over the past 30 days, while estimates for fiscal 2027 have been raised northward over the past seven days.
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Lam Research currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
