LRCX Chart
About

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. The company offers ALTUS systems to deposit conformal or selective films for tungsten or molybdenum metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition products for dielectric film solutions; and VECTOR plasma-enhanced CVD products. It also provides Flex for dielectric etch applications; Vantex, a dielectric etch system that provides RF technology and repeatable wafer-to-wafer performance enabled by Equipment Intelligence solutions; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. In addition, the company offers Coronus bevel clean products to enhance die yield; and Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications. Further, it provides Reliant deposition, etch, and clean products; and Sense.i platform products, as well as customer service, spares, and upgrades. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.

Fundamentals
Scroll to Statements
Sector Technology Industry Semiconductor Equipment Market Cap 293.90B
Enterprise Value 290.50B Income 6.21B Sales 20.56B
Book/sh 8.11 Cash/sh 4.95 Dividend Yield 44.00%
Payout 20.12% Employees 19700 IPO
P/E 48.05 Forward P/E 33.89 PEG
P/S 14.29 P/B 28.86 P/C
EV/EBITDA 39.56 EV/Sales 14.13 Quick Ratio 1.56
Current Ratio 2.26 Debt/Eq 44.20 LT Debt/Eq
EPS (ttm) 4.87 EPS next Y 6.90 EPS Growth 37.00%
Revenue Growth 22.10% Earnings 2026-04-22 ROA 21.05%
ROE 65.56% ROIC Gross Margin 49.80%
Oper. Margin 33.87% Profit Margin 30.22% Shs Outstand 1.25B
Shs Float 1.24B Short Float 2.34% Short Ratio 2.26
Short Interest 52W High 256.68 52W Low 56.32
Beta 1.79 Avg Volume 11.32M Volume 10.06M
Target Price $274.90 Recom Buy Prev Close $224.71
Price $233.99 Change 4.13%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$274.90
Mean price target
2. Current target
$233.99
Latest analyst target
3. DCF / Fair value
$69.43
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$233.99
Low
$200.00
High
$325.00
Mean
$274.90

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-10 main Barclays Equal-Weight → Equal-Weight $255
2026-02-25 main Morgan Stanley Equal-Weight → Equal-Weight $254
2026-01-29 main Morgan Stanley Equal-Weight → Equal-Weight $244
2026-01-29 main Goldman Sachs Buy → Buy $262
2026-01-29 main JP Morgan Overweight → Overweight $300
2026-01-29 main UBS Buy → Buy $275
2026-01-29 main Citigroup Buy → Buy $300
2026-01-29 main RBC Capital Outperform → Outperform $290
2026-01-29 main Stifel Buy → Buy $280
2026-01-29 main Wells Fargo Overweight → Overweight $290
2026-01-29 main Cantor Fitzgerald Overweight → Overweight $320
2026-01-29 main Susquehanna Positive → Positive $325
2026-01-29 main Evercore ISI Group Outperform → Outperform $275
2026-01-29 main Needham Buy → Buy $300
2026-01-22 main Citigroup Buy → Buy $265
2026-01-21 main Deutsche Bank Buy → Buy $260
2026-01-20 main UBS Buy → Buy $255
2026-01-20 main Needham Buy → Buy $250
2026-01-15 up Wells Fargo Equal-Weight → Overweight $250
2026-01-15 init RBC Capital — → Outperform $260
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 4571 Stock Gift at price 0.00 per share. TALWALKAR ABHIJIT Y Director 2026-03-10 00:00:00 D
1 50057 11214270.0 Sale at price 224.03 per share. BETTINGER DOUGLAS R Chief Financial Officer 2026-03-04 00:00:00 D
2 1500 333990.0 Sale at price 222.66 per share. HARTER AVA Officer 2026-03-04 00:00:00 D
3 77750 5116038.0 Conversion of Exercise of derivative security at price 49.09 - 98.15 per share. BETTINGER DOUGLAS R Chief Financial Officer 2026-03-04 00:00:00 D
4 40329 9284542.0 Sale at price 230.22 per share. BETTINGER DOUGLAS R Chief Financial Officer 2026-03-02 00:00:00 D
5 4000 930000.0 Sale at price 232.50 per share. HARTER AVA Officer 2026-03-02 00:00:00 D
6 66310 3399994.0 Conversion of Exercise of derivative security at price 30.03 - 59.88 per share. BETTINGER DOUGLAS R Chief Financial Officer 2026-03-02 00:00:00 D
7 51053 Stock Award(Grant) at price 0.00 per share. ARCHER TIMOTHY M Chief Executive Officer 2026-02-27 00:00:00 D
8 7106 Stock Award(Grant) at price 0.00 per share. HARTER AVA Officer 2026-02-27 00:00:00 D
9 9053 Stock Award(Grant) at price 0.00 per share. VAHEDI VAHID Officer 2026-02-27 00:00:00 D
Financials
Line Item2025-06-302024-06-302023-06-302022-06-30
TaxEffectOfUnusualItems-2.67M-2.81M-5.76M-81.70K
TaxRateForCalcs0.100.120.120.11
NormalizedEBITDA6.55B4.93B5.69B5.71B
TotalUnusualItems-26.41M-23.02M-49.23M-723.00K
TotalUnusualItemsExcludingGoodwill-26.41M-23.02M-49.23M-723.00K
NetIncomeFromContinuingOperationNetMinorityInterest5.36B3.83B4.51B4.61B
ReconciledDepreciation386.28M359.70M342.43M333.74M
ReconciledCostOfRevenue9.46B7.85B9.65B9.36B
EBITDA6.52B4.91B5.64B5.71B
EBIT6.14B4.55B5.30B5.38B
NetInterestIncome53.13M66.70M-47.48M-169.55M
InterestExpense178.20M185.24M186.46M184.76M
InterestIncome231.33M251.94M138.98M15.21M
NormalizedIncome5.38B3.85B4.55B4.61B
NetIncomeFromContinuingAndDiscontinuedOperation5.36B3.83B4.51B4.61B
TotalExpenses12.53B10.62B12.21B11.85B
TotalOperatingIncomeAsReported5.90B4.26B5.17B5.38B
DilutedAverageShares1.29B1.32B1.36B1.41B
BasicAverageShares1.29B1.31B1.35B1.40B
DilutedEPS4.152.903.323.27
BasicEPS4.172.913.333.29
DilutedNIAvailtoComStockholders5.36B3.83B4.51B4.61B
NetIncomeCommonStockholders5.36B3.83B4.51B4.61B
NetIncome5.36B3.83B4.51B4.61B
NetIncomeIncludingNoncontrollingInterests5.36B3.83B4.51B4.61B
NetIncomeContinuousOperations5.36B3.83B4.51B4.61B
TaxProvision599.91M532.45M598.28M587.83M
PretaxIncome5.96B4.36B5.11B5.19B
OtherIncomeExpense4.03M11.42M-60.32M-19.16M
OtherNonOperatingIncomeExpenses30.45M34.44M-11.09M-18.43M
SpecialIncomeCharges0.00-18.19M-42.15M0.00
RestructuringAndMergernAcquisition0.0018.19M42.15M0.00
GainOnSaleOfSecurity-26.41M-4.84M-7.08M-723.00K
NetNonOperatingInterestIncomeExpense53.13M66.70M-47.48M-169.55M
InterestExpenseNonOperating178.20M185.24M186.46M184.76M
InterestIncomeNonOperating231.33M251.94M138.98M15.21M
OperatingIncome5.90B4.28B5.22B5.38B
OperatingExpense3.08B2.77B2.56B2.49B
ResearchAndDevelopment2.10B1.90B1.73B1.60B
SellingGeneralAndAdministration981.70M868.25M832.75M885.74M
GrossProfit8.98B7.05B7.78B7.87B
CostOfRevenue9.46B7.85B9.65B9.36B
TotalRevenue18.44B14.91B17.43B17.23B
OperatingRevenue18.44B14.91B17.43B17.23B
Line Item2025-06-302024-06-302023-06-302022-06-30
TreasurySharesNumber1.69B1.65B1.61B1.57B
OrdinarySharesNumber1.27B1.30B1.33B1.37B
ShareIssued2.96B2.95B2.95B2.94B
NetDebt1.44B536.05M
TotalDebt4.48B4.98B5.01B5.01B
TangibleBookValue8.05B6.77B6.42B4.66B
InvestedCapital14.33B13.51B13.18B11.24B
WorkingCapital7.95B8.54B9.04B7.72B
NetTangibleAssets8.05B6.77B6.42B4.66B
CapitalLeaseObligations15.14M15.97M46.18M43.37M
CommonStockEquity9.86B8.54B8.21B6.28B
TotalCapitalization13.58B13.01B13.18B11.24B
TotalEquityGrossMinorityInterest9.86B8.54B8.21B6.28B
StockholdersEquity9.86B8.54B8.21B6.28B
GainsLossesNotAffectingRetainedEarnings-62.42M-130.43M-100.71M-109.98M
OtherEquityAdjustments-62.42M-130.43M-100.71M-109.98M
TreasuryStock27.76B24.37B21.53B19.48B
RetainedEarnings28.99B24.81B22.03B18.45B
AdditionalPaidInCapital8.70B8.22B7.81B7.41B
CapitalStock1.27M1.30M133.00K137.00K
CommonStock1.27M1.30M133.00K137.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest11.48B10.21B10.57B10.92B
TotalNonCurrentLiabilitiesNetMinorityInterest4.92B5.87B6.39B6.35B
OtherNonCurrentLiabilities581.61M575.01M501.29M422.94M
DerivativeProductLiabilities4.83M6.62M
TradeandOtherPayablesNonCurrent603.41M813.30M882.08M931.12M
LongTermDebtAndCapitalLeaseObligation3.73B4.48B5.00B5.00B
LongTermCapitalLeaseObligation10.50M12.47M38.24M35.99M
LongTermDebt3.72B4.47B4.96B4.96B
CurrentLiabilities6.57B4.34B4.18B4.56B
OtherCurrentLiabilities693.81M609.50M580.61M589.74M
CurrentDeferredLiabilities2.57B1.42B1.70B1.57B
CurrentDeferredRevenue2.57B1.42B1.70B1.57B
CurrentDebtAndCapitalLeaseObligation754.31M504.81M8.36M7.38M
CurrentCapitalLeaseObligation4.64M3.50M7.94M7.38M
CurrentDebt749.67M501.32M421.00K
OtherCurrentBorrowings749.67M501.32M421.00K
PensionandOtherPostRetirementBenefitPlansCurrent618.37M516.72M481.35M481.07M
CurrentProvisions248.78M228.06M256.78M232.25M
PayablesAndAccruedExpenses1.69B1.06B1.16B1.68B
CurrentAccruedExpenses456.89M
Payables1.69B1.06B1.16B1.68B
DividendsPayable291.98M260.90M231.27M205.62M
TotalTaxPayable541.43M186.70M460.63M465.60M
AccountsPayable854.21M613.97M470.70M1.01B
TotalAssets21.35B18.74B18.78B17.20B
TotalNonCurrentAssets6.83B5.86B5.55B4.91B
OtherNonCurrentAssets2.59B1.94B1.91B1.65B
GoodwillAndOtherIntangibleAssets1.81B1.77B1.79B1.62B
OtherIntangibleAssets182.20M138.54M168.45M101.85M
Goodwill1.63B1.63B1.62B1.52B
NetPPE2.43B2.15B1.86B1.65B
AccumulatedDepreciation-2.17B-1.86B-1.64B-1.44B
GrossPPE4.60B4.02B3.50B3.09B
OtherProperties23.22M24.54M53.72M42.15M
MachineryFurnitureEquipment2.49B2.22B2.06B1.84B
BuildingsAndImprovements1.91B1.61B1.29B1.12B
LandAndImprovements166.21M163.80M98.74M84.73M
Properties0.000.000.000.00
CurrentAssets14.52B12.88B13.23B12.29B
OtherCurrentAssets440.27M298.19M251.79M347.39M
PrepaidAssets347.39M207.53M
Inventory4.31B4.22B4.82B3.97B
FinishedGoods1.36B1.01B1.29B1.09B
WorkInProcess282.88M284.08M325.61M471.35M
RawMaterials2.66B2.92B3.20B2.40B
Receivables3.38B2.52B2.82B4.31B
AccountsReceivable3.38B2.52B2.82B4.31B
AllowanceForDoubtfulAccountsReceivable-6.50M-5.28M-5.34M-5.61M
GrossAccountsReceivable3.38B2.52B2.83B4.32B
CashCashEquivalentsAndShortTermInvestments6.39B5.85B5.34B3.66B
OtherShortTermInvestments37.64M135.73M1.31B
CashAndCashEquivalents6.39B5.85B5.34B3.52B
CashEquivalents4.73B4.28B3.20B2.51B
CashFinancial1.66B1.57B2.13B1.02B
Line Item2025-06-302024-06-302023-06-302022-06-30
FreeCashFlow5.41B4.26B4.68B2.55B
RepurchaseOfCapitalStock-3.42B-2.84B-2.02B-3.87B
RepaymentOfDebt-507.49M-256.10M-23.21M-11.89M
IssuanceOfDebt0.000.00
IssuanceOfCapitalStock2.45M15.55M11.11M5.68M
CapitalExpenditure-759.19M-396.67M-501.57M-546.03M
InterestPaidSupplementalData172.35M173.09M174.75M175.53M
IncomeTaxPaidSupplementalData972.51M991.82M809.75M807.67M
EndCashPosition6.41B5.85B5.59B3.77B
BeginningCashPosition5.85B5.59B3.77B4.67B
EffectOfExchangeRateChanges28.32M-22.37M128.00K-30.23M
ChangesInCash528.53M285.81M1.81B-866.99M
FinancingCashFlow-4.94B-4.00B-2.83B-4.58B
CashFlowFromContinuingFinancingActivities-4.94B-4.00B-2.83B-4.58B
NetOtherFinancingCharges143.00K-13.54M-3.55M45.00K
ProceedsFromStockOptionExercised140.11M119.97M109.90M108.18M
CashDividendsPaid-1.15B-1.02B-907.91M-815.29M
CommonStockDividendPaid-1.15B-1.02B-907.91M-815.29M
NetCommonStockIssuance-3.42B-2.83B-2.01B-3.86B
CommonStockPayments-3.42B-2.84B-2.02B-3.87B
CommonStockIssuance2.45M15.55M11.11M5.68M
NetIssuancePaymentsOfDebt-507.49M-256.10M-23.21M-11.89M
NetShortTermDebtIssuance0.00
ShortTermDebtPayments0.00
ShortTermDebtIssuance0.00
NetLongTermDebtIssuance-507.49M-256.10M-23.21M-11.89M
LongTermDebtPayments-507.49M-256.10M-23.21M-11.89M
LongTermDebtIssuance0.000.00
InvestingCashFlow-708.09M-370.61M-534.56M612.27M
CashFlowFromContinuingInvestingActivities-708.09M-370.61M-534.56M612.27M
NetOtherInvestingChanges51.09M-11.71M-11.17M-7.58M
NetInvestmentPurchaseAndSale0.0037.77M98.13M1.17B
SaleOfInvestment0.0037.77M98.13M1.73B
PurchaseOfInvestment0.000.00-567.82M-3.39B
NetBusinessPurchaseAndSale0.000.00-119.95M0.00
PurchaseOfBusiness0.000.00-119.95M0.00
CapitalExpenditureReported-759.19M-396.67M-501.57M-546.03M
OperatingCashFlow6.17B4.65B5.18B3.10B
CashFlowFromContinuingOperatingActivities6.17B4.65B5.18B3.10B
ChangeInWorkingCapital441.80M360.48M158.74M-1.80B
ChangeInOtherWorkingCapital1.15B-277.44M163.47M604.57M
ChangeInPayablesAndAccruedExpense540.25M-178.71M-631.03M291.35M
ChangeInAccruedExpense328.25M-304.65M-108.83M123.46M
ChangeInPayable212.00M125.94M-522.20M167.88M
ChangeInAccountPayable212.00M125.94M-522.20M167.88M
ChangeInPrepaidAssets-206.73M-15.54M136.02M-53.12M
ChangeInInventory-180.73M528.72M-961.97M-1.35B
ChangeInReceivables-858.75M303.44M1.45B-1.29B
ChangesInAccountReceivables-858.75M303.44M1.45B-1.29B
OtherNonCashItems6.84M10.24M52.30M-44.75M
StockBasedCompensation343.37M293.06M286.60M259.06M
DeferredTax-363.25M-198.98M-172.06M-257.44M
DeferredIncomeTax-363.25M-198.98M-172.06M-257.44M
DepreciationAmortizationDepletion386.28M359.70M342.43M333.74M
DepreciationAndAmortization386.28M359.70M342.43M333.74M
NetIncomeFromContinuingOperations5.36B3.83B4.51B4.61B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for LRCX
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status