Lam Research Corp.

Lam Research Corp.

LRCX

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Market Cap$366.44B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Lam Research Corp.Lam Research Corp.50.60.35%58%16.30.4

Earnings Call Q4 2026

July 29, 2026 - AI Summary

Record growth across the core platform (good / key signal): Q2 delivered $1.3B revenues (+32% YoY), record net deposits of $22B (management cited 28% annualized growth rate), and record volumes across equities, options, and prediction markets. Gold subscribers hit 4.8M (+17% attach rate vs net funded accounts)—supporting higher recurring/interest revenue and engagement.
Profitability at scale + cost discipline (good / important for valuation): Despite adding new product lines, adjusted profitability stayed strong: adjusted EBITDA $741M (+35% YoY) with 57% adjusted EBITDA margin. Adjusted OpEx & SBC was $641M, and the company emphasized operating discipline and “self-funding” new initiatives via efficiencies. This is consistent with their internal Rule of 40 framing (double-digit revenue growth + strong margins).
2026 outlook tightened (forecast / forward-looking): Robinhood lowered and tightened its 2026 adjusted OpEx + SBC outlook to $2.675B–$2.775B (from the prior outlook range referenced earlier). This implies management expects continued growth while controlling incremental expense pressure from Rothera and WonderFi.

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$377.07

Target Price by Analysts

28.7% upsideLam Research Target Price DetailsTarget Price
$47.58

Current Fair Value

83.8% downside

Overvalued by 83.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$366.44 Billion
Enterprise Value$365.28 Billion
Dividend Yield$1.04 (0.35%)
Earnings per Share$5.79
Beta1.81
Outstanding Shares1,255,079,000

Return

Return on Equity58.26%ROE
Return on Assets30.88%
Return on Invested Capital46.28%

Valuation & Multiples

P/E Ratio50.61P/E Ratio
PEG156.23PEG
Price to Sales16.28Price to Sales
Price to Book Ratio32.56Price to Book Ratio
Enterprise Value to Revenue15.72
Enterprise Value to EBIT44.87
Enterprise Value to Net Income50
Total Debt to Enterprise0.01
Debt to Equity0.35Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 29, 2026
EPS Estimate
$1.69
Average shareholder expectation
Revenue Estimate
$6.66 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 21, 2026
EPS Estimate
$2.16
Average shareholder expectation
Revenue Estimate
$8.08 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.0796 12.21%
Total Calls11,300 99.93%
Total Puts12,200 99.93%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %2.42% 78.61%
Total Invested$12.86B 94.03%
Investors Holding990 1718.00%

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.