Lam Research/$LRCX
1D1W1MYTD1Y5YMAX
Capital at risk
About Lam Research
Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.
- Ticker
- $LRCX
- Sector
- Semiconductors
- Primary listing
- NASDAQ
- Employees
- 23,300
- Headquarters
- Fremont, United States
- Website
- www.lamresearch.com
Lam Research Metrics
BasicAdvanced
$394B
54.72
$5.76
1.86
$1.04
0.33%
Price and volume
Market cap
$394B
Beta
1.86
52-week high
$438.50
52-week low
$126.37
Average daily volume
8.6M
Dividend rate
$1.04
Financial strength
Current ratio
2.629
Quick ratio
1.839
Long term debt to equity
0.323
Total debt to equity
0.299
Dividend payout ratio (TTM)
17.49%
Interest coverage (TTM)
52.27%
Profitability
EBITDA (TTM)
8,641.328
Gross margin (TTM)
50.47%
Net profit margin (TTM)
31.27%
Operating margin (TTM)
35.29%
Effective tax rate (TTM)
12.07%
Revenue per employee (TTM)
$1,000,000
Management effectiveness
Return on assets (TTM)
22.84%
Return on equity (TTM)
65.07%
Valuation
Price to earnings (TTM)
54.724
Price to revenue (TTM)
17.028
Price to book
31.62
Price to tangible book (TTM)
37.29
Price to free cash flow (TTM)
80.882
Free cash flow yield (TTM)
1.24%
Free cash flow per share (TTM)
3.897
Dividend yield (TTM)
0.33%
Forward dividend yield
0.33%
Growth
Revenue change (TTM)
26.02%
Earnings per share change (TTM)
38.80%
3-year revenue growth (CAGR)
10.06%
10-year revenue growth (CAGR)
14.72%
3-year earnings per share growth (CAGR)
20.16%
10-year earnings per share growth (CAGR)
27.14%
3-year dividend per share growth (CAGR)
14.66%
10-year dividend per share growth (CAGR)
24.10%
Bulls say / Bears say
AI infrastructure spending is translating into immediate orders: Lam reported record June-quarter revenue of $6.72 billion and guided for $8.10 billion in the September quarter. It also lifted its 2026 wafer-fabrication-equipment outlook to the low-$150 billion range, supporting further near-term growth. (Reuters, Lam Research)
Rising chip complexity is expanding Lam’s opportunity beyond simple wafer additions. The company says deposition and etch intensity roughly doubles as devices move into more complex 3D designs, while its NAND served market per wafer could double from 128-layer to 500-plus-layer products. (Lam Research, The Motley Fool)
Profitability is strengthening alongside demand. Lam reached a 52% non-GAAP gross margin and a record customer-support quarter driven by services, upgrades and installed equipment, while its September-quarter guide calls for a 39.5% operating margin. (Lam Research, The Motley Fool)
US export controls are a direct revenue headwind: Lam expects about $600 million lower 2026 revenue, with $200 million already included in its first-quarter guidance, and China is expected to fall below 30% of sales. Further restrictions could worsen the hit and speed up Chinese equipment substitution. (EveryTicker)
Lam’s memory growth depends heavily on customers upgrading existing NAND fabs, with limited greenfield capacity planned for 2026 and 2027. If AI-related storage demand or memory spending cools, these conversion projects could be delayed and weaken a major part of Lam’s growth outlook. (The Lincolnian Online, The Motley Fool)
The shares already embed strong execution: Simply Wall St reported a 49.6-times price-to-earnings ratio against an estimated fair multiple of 44.3 times, after a 128% one-year total return. A slowdown in earnings or a retreat from peak-cycle margins could therefore cause a sharp valuation reset. (Simply Wall St News)
Data summarised monthly by Lightyear AI. Last updated on 22 Sept 2026.
Upcoming events
Lam Research News
AllArticlesVideos
Funds containing Lam Research
AllEURGBPUSD
Fund name | Fund size | $LRCX weighting |
|---|---|---|
VanEck Semiconductor€VVSM | €1.9B | 4.23% |
VanEck Semiconductor£SMGB | £1.6B | 4.23% |
iShares MSCI Global Semiconductors€SEC0 | €5.1B | 4.12% |
iShares MSCI Global Semiconductors£SEMI | £4.4B | 4.12% |
iShares MSCI USA SRI$SUAS | $3.4B | 3.65% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.