Lam Research (LRCX)
Makes deposition, etch, clean, and dry-resist tools for semiconductor fabs.
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Sells deposition, etch, clean, and dry-resist equipment to memory, foundry, and logic chipmakers, then earns support revenue from service, spares, upgrades, software, and mature-node Reliant systems. A broad installed base supports recurring demand, while sales remain concentrated among large customers and heavily weighted to Asia.
Builds wafer-fabrication equipment for deposition, etch, clean, and dry-resist patterning, serving memory, foundry, and integrated-device manufacturers. Systems create and remove microscopic material layers; customer-support operations add service, spares, upgrades, Equipment Intelligence software, and Reliant equipment for less advanced processes. The portfolio also reaches wafer-level and panel-level advanced packaging.
Combining hardware, process chemistry, materials, software, and process control helps translate new chip architectures into repeatable fab processes, while a broad installed base supports learning and aftermarket demand. Most sales occur in Asia, led by China, Taiwan, and Korea. Revenue depends on a limited group of large chipmakers and their wafer-fabrication spending; U.S. export controls restrict some equipment and spare-parts sales to Chinese customers.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Berenberg Bank | Target | Target: $840 | Target: $420 |
| Sep 1, 2026 | UBS | Reiterate | Rating: —Target: $375 | Target: $425 |
| Aug 25, 2026 | Mizuho Securities | Target | Target: $380 | Target: $365 |
| Jul 30, 2026 | Deutsche Bank | Reiterate | Rating: —Target: $300 | Target: $320 |
| Jul 30, 2026 | Wells Fargo | Reiterate | Rating: —Target: $450 | Target: $350 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 28, 2026Cash & short-term investments $5.58B · Total debt $4.12B · Total assets $23.53B · Shareholders' equity $12.47B
- Revenue
- $6.72B
- Operating income
- $2.51B
- Net income
- $2.28B
HistoryDividendAnnual yieldUpcoming
| Institutions | 86.45% | 1.08B shares | |
|---|---|---|---|
| 3,237 holders · as of Jun 30, 2026 | |||
| Insiders | 0.28% | 3.55M shares | |
| 20 holders · as of Sep 10, 2026 | |||
| Other | 13.27% | 165.91M shares | |
| remainder | |||
1.25B company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 10.61% | 132.73M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.53% | 81.68M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.85% | 60.70M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 4.18% | 52.32M | as of Jun 30, 2026 |
JPMorgan Chase & CoInstitution | 3.62% | 45.32M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 9, 2026 | Bethany Mayer | director | −9,557 | $314.74 |
| Sep 9, 2026 | Timothy Archer | officer: President and CEO | −30,000 | $319.26 |
| Sep 2, 2026 | Seshasayee Varadarajan | officer: Senior Vice President | −27,480 | $291.32 |
| Aug 31, 2026 | Ava Harter | officer: Chief Legal Officer | −5,000 | $302.46 |
| Aug 6, 2026 | Timothy Archer | officer: President and CEO | −30,000 | $300.00 |
- Applied Materials
Broadest direct rival in etch, deposition (CVD/PVD/ALD), and advanced packaging.
- KLA
Process-control leader; adjacent WFE peer; Lam’s failed $10.6B merger target.
- ASML (ADR)
Lithography monopoly; EUV roadmap shapes Lam’s etch/deposition requirements.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lam Research | $304.51 | +0.74% | $378.02B | 52.5 | 32.0 | 16.3 | +30.0% |
| Applied Materials | $467.79 | +0.76% | $368.59B | 40.0 | 26.6 | 12.0 | +24.8% |
| KLA | $184.63 | +0.36% | $240.32B | 50.2 | 33.4 | 17.7 | +15.2% |
| ASML (ADR) | $1,732.56 | +1.24% | $659.57B | 54.2 | 30.8 | 16.3 | +19.6% |
| Median | 50.2 | 30.8 | 16.3 | +19.6% |