Lam Research Corp.

Lam Research Corp.

LRCX

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Market Cap$397.91B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Lam Research Corp.Lam Research Corp.59.30.32%63%20.20.4

Earnings Call Q3 2026

April 22, 2026 - AI Summary

Strong Financial Performance: Lam Research reported a record revenue of $5.84 billion for the March 2026 quarter, reflecting a 9% sequential increase and a 24% year-over-year growth compared to the same quarter in 2025. Earnings per share reached a record $1.47, exceeding the upper end of the guidance range, demonstrating solid financial health.
Positive WFE Outlook: The company now anticipates the wafer fabrication equipment (WFE) spending for 2026 to be around $140 billion, up from the previous expectation of $135 billion. There is a growing bias toward upward revisions as customers increase spending across all device segments, positioning Lam for strong growth opportunities.
Growth Segments and Opportunities: The AI-driven semiconductor demand is significantly boosting Lam’s opportunities, particularly in NAND and DRAM markets. An expected shift toward higher layer count NAND devices and 1C generation DRAM indicates an exciting growth trajectory for these segments, where Lam anticipates strong outperformance going forward.

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$319.25

Target Price by Analysts

7.1% downsideLam Research Target Price DetailsTarget Price
$48.84

Current Fair Value

85.8% downside

Overvalued by 85.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$397.91 Billion
Enterprise Value$397.51 Billion
Dividend Yield$1.01 (0.32%)
Earnings per Share$4.17
Beta1.82
Outstanding Shares1,249,728,000

Return

Return on Equity63.38%ROE
Return on Assets32.26%
Return on Invested Capital47.65%

Valuation & Multiples

P/E Ratio59.28P/E Ratio
PEG159.41PEG
Price to Sales20.22Price to Sales
Price to Book Ratio42.96Price to Book Ratio
Enterprise Value to Revenue18.33
Enterprise Value to EBIT53.64
Enterprise Value to Net Income59
Total Debt to Enterprise0.01
Debt to Equity0.41Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
April 29, 2026
EPS Estimate
$1.35
Average shareholder expectation
Revenue Estimate
$5.70 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 29, 2026
EPS Estimate
$1.65
Average shareholder expectation
Revenue Estimate
$6.62 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.2018 28.11%
Total Calls15,453,353 21.67%
Total Puts18,571,543 36.52%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %80.15% 2.94%
Total Invested$214.96B 20.27%
Investors Holding2,693 241.00%

ESG Score

No data

About Lam Research Corp.

10,700 employees
CEO: Timothy Archer

Lam Research Corporation is an American corporation that engages in the design, manufacture, marketing, and service of semiconductor processing equipment used in the fabrication of integrated circuits. Its products are used primarily in ...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official revenue estimates and technical analysis for all tax legislation. Its work directly influences the design and scoring of tax bills, which in turn impacts corporate tax structures, capital investment incentives, and the overall tax burden on Lam Research.

Finance

This powerful committee controls taxation, trade, and entitlement spending. Tax policy (e.g., corporate tax rates, R&D credits) significantly impacts Lam Research's profitability and investment decisions. Trade policy and tariffs are also critical for a global semiconductor equipment manufacturer.

Appropriations

This committee allocates discretionary federal spending. Its subcommittees determine the precise funding for initiatives like the CHIPS Act, scientific research, and defense programs, directly impacting the capital available for semiconductor fabrication plants and related R&D, which are Lam Research's customers.

Commerce, Science, and Transportation

This committee has vast jurisdiction over interstate commerce, technology, and science. It is highly relevant as it can influence R&D funding (e.g., CHIPS Act), regulate technology standards, and oversee policies impacting the broader tech ecosystem that relies heavily on semiconductors.

Foreign Relations

The semiconductor industry is highly globalized. This committee's role in U.S. foreign policy, sanctions (e.g., export controls impacting sales to certain countries), and international treaties can directly and significantly affect Lam Research's ability to operate and sell its equipment in key global markets.