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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. LRCX Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Lam Research (LRCX)

Market Price (9/18/2025): $122.67 | Market Cap: $156.3 Bil
Sector: Information Technology | Industry: Semiconductor Materials & Equipment

Lam Research (LRCX)

Market Price (9/18/2025): $122.67
Market Cap: $156.3 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment

Investment Highlights

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24%		 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%		 
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%, CFO LTM is 6.2 Bil, FCF LTM is 5.4 Bil		  
3 Low stock price volatility
Vol 12M is 47%		  
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%, CFO LTM is 6.2 Bil, FCF LTM is 5.4 Bil
3 Low stock price volatility
Vol 12M is 47%
4 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Market Valuation

 9/18/25202420232022
Share Price CYE$122.67$71.83$77.11$40.88
Market Cap CYE ($ Bil)156.392.5101.555.6
Total Debt ($ Bil)4.54.55.05.0
Total Cash ($ Bil)6.46.45.85.4
Enterprise Value ($ Bil)154.497.0106.560.6
Valuation Ratios    
P/S TTM8.55.06.93.3
P/EBIT TTM25.515.122.610.8
P/E TTM29.217.326.912.6
Sector Ratios    
P/S TTM (Sector)3.23.12.82.5
P/EBIT TTM (Sector)3.9-0.0-0.1-0.5
P/E TTM (Sector)-0.4-0.3-0.4-0.5
 9/18/252024
Share Price CYE$122.67$71.83
Market Cap CYE ($ Bil)156.392.5
Total Debt ($ Bil)4.54.5
Total Cash ($ Bil)6.46.4
Enterprise Value ($ Bil)154.497.0
Valuation Ratios  
P/S TTM8.55.0
P/EBIT TTM25.515.1
P/E TTM29.217.3
Sector Ratios  
P/S TTM (Sector)3.23.1
P/EBIT TTM (Sector)3.9-0.0
P/E TTM (Sector)-0.4-0.3

Market Cap Chart

Business Description

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products. It also provides SPEED gapfill high-density plasma chemical vapor deposition products; and Striker single-wafer atomic layer deposition products for dielectric film solutions. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
LRCX Return64%54%-41%89%-7%70%328%
Peers Return35%56%-27%52%2%21%187%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: AMAT, ADI, KLAC, ICHR, LRCX. See LRCX Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than Lam Research (LRCX)

 LRCXBetter Performance than LRCX
MetricValueIndustry (Semiconductor Materials & Equi)
Rev Chg LTM23.7%KLAC (23.9%), NVMI (43.7%), CAMT (27.9%), AMBA (57.9%), SMTK (125.6%)
Rev Chg 3Y Avg3.5%AMAT (4.4%), KLAC (10.4%), ENTG (10.9%), NVMI (17.9%), MKSI (8.4%)
Op Mgn LTM32.0%KLAC (41.2%)
CFO/Rev LTM33.5%KLAC (33.6%)
FCF/Rev LTM29.4%KLAC (30.8%)
Total Yield4.2%AMAT (5.8%), ACLS (5.5%), ACMR (5.2%), PLAB (8.0%)
 LRCXBetter Performance than LRCX
MetricValueAll Other Sectors
Rev Chg LTM23.7%LLY (36.8%), APP (48.2%), BX (34.9%), MELI (35.8%), DASH (23.8%)
Rev Chg 3Y Avg3.5%GOOGL (10.2%), AMZN (11.3%), META (13.0%), TSLA (12.9%), BRK-B (16.6%)
Op Mgn LTM32.0%GOOGL (32.7%), META (42.9%), LLY (43.0%), V (66.5%), MA (58.0%)
CFO/Rev LTM33.5%GOOGL (36.0%), META (56.4%), V (60.4%), MA (53.3%), MCD (37.6%)
FCF/Rev LTM29.4%META (30.7%), V (56.8%), MA (49.2%), ABBV (31.3%), RY (131.7%)
Total Yield4.2%BRK-B (5.9%), JPM (6.5%), XOM (9.7%), JNJ (8.1%), HD (5.7%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Big Move for LRCX, but Do KLAC's Margins and Growth Give It the Edge?Counter-Intuitive Comparisons 
2Day 11 of Gains Streak for Lam Research Stock with 26% Return (vs. 70% YTD) [9/17/2025]Notification 
3Lam Research Earnings Notes  
4Day 10 of Gains Streak for Lam Research Stock with 24% Return (vs. 68% YTD) [9/16/2025]Notification 
5Day 9 of Gains Streak for Lam Research Stock with 23% Return (vs. 66% YTD) [9/15/2025]Notification 
6Day 8 of Gains Streak for Lam Research Stock with 21% Return (vs. 63% YTD) [9/12/2025]Notification 
7LRCX Leaps 14% In One Week, Should You Buy The Stock?Buy or Fear 
8LRCX Soars 7.7% In A Single Day: How Does It Compare With Others?  
9Day 7 of Gains Streak for Lam Research Stock with 19% Return (vs. 61% YTD) [9/11/2025]Notification 
10Day 6 of Gains Streak for Lam Research Stock with 11% Return (vs. 49% YTD) [9/10/2025]Notification 
11ARTICLES  
12LRCX Jumps 14% in a Week, But Does KLAC Offer Better Fundamentals? September 18th, 2025
13LRCX Stock Up 26% after 11-Day Win Streak September 18th, 2025
14Large Cap Stocks Trading At 52-Week High September 17th, 2025
15LRCX Stock Up 24% after 10-Day Win Streak September 17th, 2025
16LRCX Stock Up 23% after 9-Day Win Streak September 16th, 2025
Title
0DASHBOARDS
1LRCX Jumps 14% in a Week, But Does KLAC Offer Better Fundamentals?
2LRCX Stock Up 26% after 11-Day Win Streak
3Large Cap Stocks Trading At 52-Week High
4LRCX Stock Up 24% after 10-Day Win Streak
5LRCX Stock Up 23% after 9-Day Win Streak
6ARTICLES
7Big Move for LRCX, but Do KLAC's Margins and Growth Give It the Edge?
8Day 11 of Gains Streak for Lam Research Stock with 26% Return (vs. 70% YTD) [9/17/2025]
9Lam Research Earnings Notes
10Day 10 of Gains Streak for Lam Research Stock with 24% Return (vs. 68% YTD) [9/16/2025]
11Day 9 of Gains Streak for Lam Research Stock with 23% Return (vs. 66% YTD) [9/15/2025]
12Day 8 of Gains Streak for Lam Research Stock with 21% Return (vs. 63% YTD) [9/12/2025]
13LRCX Leaps 14% In One Week, Should You Buy The Stock?
14LRCX Soars 7.7% In A Single Day: How Does It Compare With Others?
15Day 7 of Gains Streak for Lam Research Stock with 19% Return (vs. 61% YTD) [9/11/2025]
16Day 6 of Gains Streak for Lam Research Stock with 11% Return (vs. 49% YTD) [9/10/2025]

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
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4ATHAAthira Pharma892.1%544.3%
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7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
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10RBNERobin Energy-42.6% 

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Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Lam Research

Financials

LRCXAMATADIKLACICHRMedian
NameLam Rese.Applied .Analog D.KLA Ichor  
Mkt Price121.90178.13246.32989.8716.48178.13
Mkt Cap155.3142.1121.8130.70.6130.7
Rev LTM18,43628,61310,38712,15692912,156
Op Inc LTM5,9018,6232,6305,014-85,014
FCF LTM5,4145,8233,6783,742-193,742
FCF 3Y Avg4,7826,4573,4393,367273,439
CFO LTM6,1737,7054,1624,082174,162
CFO 3Y Avg5,3357,7884,3103,687524,310

Growth & Margins

LRCXAMATADIKLACICHRMedian
NameLam Rese.Applied .Analog D.KLA Ichor  
Rev Chg LTM23.7%6.6%7.1%23.9%15.4%15.4%
Rev Chg 3Y Avg3.5%4.4%-0.6%10.4%-6.0%3.5%
Rev Chg Q33.6%7.7%24.6%23.6%18.2%23.6%
QoQ Delta Rev Chg LTM7.6%1.9%5.8%5.2%4.2%5.2%
Op Mgn LTM32.0%30.1%25.3%41.2%-0.8%30.1%
Op Mgn 3Y Avg30.2%29.4%27.5%38.8%0.6%29.4%
QoQ Delta Op Mgn LTM1.2%0.5%1.8%1.1%-0.3%1.1%
CFO/Rev LTM33.5%26.9%40.1%33.6%1.8%33.5%
CFO/Rev 3Y Avg31.5%28.5%39.5%34.1%5.6%31.5%
FCF/Rev LTM29.4%20.4%35.4%30.8%-2.0%29.4%
FCF/Rev 3Y Avg28.3%23.7%31.5%31.1%3.0%28.3%

Valuation

LRCXAMATADIKLACICHRMedian
NameLam Rese.Applied .Analog D.KLA Ichor  
Mkt Cap155.3142.1121.8130.70.6130.7
P/S8.45.011.710.80.68.4
P/EBIT25.315.545.926.4-64.125.3
P/E29.020.862.232.2-27.229.0
P/CFO25.218.429.332.033.029.3
Total Yield4.2%5.8%3.2%3.8%-3.7%3.8%
Dividend Yield0.7%0.9%1.6%0.7%0.0%0.7%
FCF Yield 3Y Avg4.3%4.4%3.2%3.6%1.9%3.6%
D/E0.00.00.10.00.30.0
Net D/E-0.0-0.00.00.00.10.0

Returns

LRCXAMATADIKLACICHRMedian
NameLam Rese.Applied .Analog D.KLA Ichor  
1M Rtn23.3%8.9%6.8%12.1%-10.6%8.9%
3M Rtn32.2%3.4%7.7%13.9%-5.6%7.7%
6M Rtn56.8%16.0%18.3%38.2%-39.8%18.3%
12M Rtn60.5%-4.6%11.2%35.1%-43.0%11.2%
3Y Rtn207.4%106.0%73.9%204.4%-40.8%106.0%
1M Excs Rtn20.9%6.6%4.5%9.7%-13.0%6.6%
3M Excs Rtn21.2%-7.7%-1.6%0.8%-15.6%-1.6%
6M Excs Rtn40.4%-0.9%1.2%22.5%-56.3%1.2%
12M Excs Rtn42.9%-21.8%-6.2%15.7%-60.8%-6.2%
3Y Excs Rtn121.7%29.5%6.3%125.1%-105.4%29.5%

Comparison Analyses

Financials

$ Mil | FY: 6/292025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1
Period End6/29/20253/30/202512/29/20249/29/20246/30/20243/31/202412/24/20239/24/20236/25/20233/26/202312/25/20229/25/2022
Filing Date8/11/20254/25/20251/31/202510/28/20248/29/20244/29/20241/29/202410/23/20238/15/20234/24/20231/30/202310/24/2022
Key Financials Quarterly            
Total Revenue5,1714,7204,3764,1683,8723,7943,7583,4823,2073,8705,2785,074
Ebitda1,9201,6791,4901,4341,2891,2301,2241,1611,0001,0781,7841,777
Operating Income1,7411,5621,3341,2641,1261,0721,0591,0258569831,6801,698
Net Income1,7201,3311,1911,1161,0209669548878038141,4691,426
EPS1.351.040.930.860.780.740.720.670.600.601.081.04
Key Financials TTM            
Total Revenue TTM18,43617,13616,20915,59114,90514,24114,31715,83617,42918,85719,04817,997
Ebitda TTM6,5235,8925,4435,1774,9054,6164,4635,0235,6386,1316,3196,020
Operating Income TTM5,9015,2864,7964,5214,2824,0133,9234,5445,2175,8406,0495,707
Net Income TTM5,3584,6584,2944,0573,8283,6103,4583,9724,5114,9175,1254,851
Growth Rates Quarterly            
Total Revenue Growth33.6%24.4%16.4%19.7%20.7%-2.0%-28.8%-31.4%-30.8%-4.7%24.9%17.9%
EBITDA Growth49.0%36.5%21.7%23.4%28.9%14.1%-31.4%-34.6%-33.0%-14.8%20.2%21.0%
Operating Income Growth54.7%45.6%26.0%23.3%31.5%9.1%-37.0%-39.6%-42.1%-17.6%25.6%23.7%
Net Income Growth68.6%37.8%24.8%25.8%27.1%18.7%-35.0%-37.8%-33.6%-20.3%22.9%20.9%
Margins Quarterly            
EBITDA Margin37.1%35.6%34.0%34.4%33.3%32.4%32.6%33.4%31.2%27.9%33.8%35.0%
Operating Income Margin33.7%33.1%30.5%30.3%29.1%28.3%28.2%29.4%26.7%25.4%31.8%33.5%
Net Income Margin33.3%28.2%27.2%26.8%26.4%25.5%25.4%25.5%25.0%21.0%27.8%28.1%
Cash & Debt            
Total Cash6,3915,4515,6656,0675,8485,6725,6385,1575,3755,3694,5884,377
Total Debt4,4854,4844,9824,9844,9834,9834,9844,9845,0125,0055,0035,003
Net Debt / (Cash)-1,906-966-683-1,084-865-689-654-172-363-364415626
Cash Flows Quarterly            
FCF from Operations2,5541,3097421,5688621,3851,4549511,1231,7261,1401,190
Cash Flows TTM            
FCF from Operations TTM6,1734,4824,5585,2704,6524,9135,2544,9415,1794,5003,5313,832
Returns to Shareholders Quarterly            
Dividends295296298261261263264230232234236206
Share Repurchases1,292435698997374981645843869582456110
Return on Invested Capital (ROIC) Quarterly            
ROIC----------1438.1%934.2%
Return on Invested Capital (ROIC) TTM            
ROIC TTM----------1286.7%803.0%

Price Behavior

LRCX Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.131.001.471.731.771.81
Up Beta1.081.822.071.831.701.82
Down Beta-1.15-0.150.581.811.751.60
Up Capture199%90%184%212%305%1491%
Bmk +ve Days10223571142415
Stock +ve Days14254172132382
Down Capture160%99%109%129%139%108%
Bmk -ve Days11192754106334
Stock -ve Days7162153115366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity31,630,878
Short Interest: % Change Since 8152025-7.4%
Average Daily Volume10,423,702
Days-to-Cover Short Interest3.03
Basic Shares Quantity1,274,281,000
Short % of Basic Shares2.5%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2025-4.3%-3.2%5.0%
4/23/20256.2%7.4%23.7%
1/29/20257.4%9.0%2.1%
10/23/20245.1%4.9%0.4%
7/31/2024-9.9%-18.8%-13.5%
4/24/20241.9%-1.9%8.3%
1/24/20242.1%-2.7%9.5%
10/18/2023-6.3%-9.2%9.1%
...
SUMMARY STATS   
# Positive131415
# Negative11109
Median Positive5.1%7.1%9.5%
Median Negative-2.9%-2.9%-3.9%
Max Positive13.9%19.0%39.7%
Max Negative-9.9%-18.8%-13.5%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025811202510-K 6/29/2025
3312025425202510-Q 3/30/2025
12312024131202510-Q 12/29/2024
93020241028202410-Q 9/29/2024
6302024829202410-K 6/30/2024
3312024429202410-Q 3/31/2024
12312023129202410-Q 12/24/2023
93020231023202310-Q 9/24/2023
6302023815202310-K 6/25/2023
3312023424202310-Q 3/26/2023
12312022130202310-Q 12/25/2022
93020221024202210-Q 9/25/2022
6302022824202210-K 6/26/2022
3312022426202210-Q 3/27/2022
12312021201202210-Q 12/26/2021
93020211026202110-Q 9/26/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Harter AvaChief Legal Officer8062025Buy63.6696024,141,494Form
1Mayer Bethany 11042024Sell75.161,660124,7572,174,234Form
2Correia ChristinaCVP , Chief Accounting Officer10022024Sell817.51647528,9293,488,315Form

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