Lam Research Corp LRCX
Stock research in plain language · As of Oct 04, 2026 · updated once a week, after the trading week closes
What the company does
Lam Research Corp is a mega-cap company in the Technology sector (Semiconductor Equipment & Materials), with a market value of $434.9B, based in the USA.
It employs about 23,300 people and has been listed since May 11, 1984.
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, which support copper damascene manufacturing; Striker single-wafer atomic layer deposition products for dielectric film solutions; and VECTOR plasma-enhanced chemical vapor deposition (CVD) products. It also provides Akara, a conductor etch system designed to enhance etch precision, selectivity, and defect control; Argos, Prevos, and Selis, which are selective etch systems used in the fabrication of advanced logic and memory devices that require precise control at nanoscale dimensions; 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 deep silicon etch; and
Cheap or expensive? relatively expensive
Its price-to-earnings (P/E) is 58.4 versus 41.5 for the median of the Technology sector in our universe (46 companies) — relatively expensive.
Revenue is growing 30% a year — the market is paying ahead for that growth. If it slows, the high multiple becomes the risk.
On analysts' next-year forecasts the multiple drops to 33.7 — they expect higher earnings.
The average analyst price target is 375.06, 8% above the current price (their view, not ours).
The stock sits at 71% of its one-year range (0% = the low, 100% = the high).
The risks
- • The stock is more volatile than average (beta 1.9) — big daily moves both ways.
Strengths
- ✅ Profitable — 34 of every 100 dollars of revenue stays as profit.
- ✅ Generates free cash flow — profit becomes cash in the bank.
- ✅ Buys back its shares (1% fewer shares in a year).
- ✅ More cash than debt.
- ✅ Most analysts rate it buy (29 vs 0).
- ✅ Revenue is growing 30% a year.
- ✅ Pays a dividend (0.3% a year).
What changed this week
Over the past week the stock rose 10.2% (for comparison: S&P 500 -0.2%, sector ETF XLK +1.8%).
This week's news
- Analog Devices, AMD, KLA Corporation, Lam Research, and Marvell Technology Stocks Trade Up, What You Need To Know finance.yahoo.com · 2026-10-03
- Lam Research (LRCX) Outpaces Stock Market Gains: What You Should Know finance.yahoo.com · 2026-10-02
- Lam Research (LRCX) Stock May Look Stretched After Its Big Five Year Run finance.yahoo.com · 2026-10-02
- Are Computer and Technology Stocks Lagging Lam Research (LRCX) This Year? finance.yahoo.com · 2026-10-02
- 3 Top-Ranked Technology Mutual Funds to Enhance Your Long-Term Returns finance.yahoo.com · 2026-10-02
- Does Lam Research (LRCX) Being a BofA Top Pick Reframe Its Equipment Demand Narrative? finance.yahoo.com · 2026-10-02
A description of facts from the filings and the market — not investment advice or a recommendation. "Cheap" and "expensive" are always relative to the comparison group.