Lam Research stock analysis
Lam Research (1LRCX) Stock Price & Analysis
1LRCX Stock Chart & Stats
- Day’s Range
- EUR 192.08 - EUR 202.15
- 52-Week Range
- EUR 93.00 - EUR 380.05
- Previous Close
- EUR 182.74
- Volume
- N/A
- Average Volume (3M)
- 172
- Market Cap
- EUR 248.73B
- Enterprise Value
- EUR 392.13B
- Total Cash (Recent Filing)
- EUR 7.44B
- Total Debt (Recent Filing)
- EUR 3.74B
- Price to Earnings (P/E)
- 32.9
- Beta
- 1.35
- Next Earnings
- Jan 27, 2027 (Est.)
- EPS Estimate
- 2.1
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 0.49%
Bulls Say, Bears Say
Bulls Say
Profitability And Scale
Lam combines strong revenue scale with exceptionally high gross, operating, and net margins, demonstrating differentiated process-equipment economics. The multi-year increase in revenue and earnings also indicates operating leverage that can support continued investment and reinforce its position through technology transitions.
Cash Generation
Strong operating and free cash flow show that reported earnings are being converted into substantial liquidity. This internally generated cash gives Lam flexibility to fund research, capacity expansion, customer support, and shareholder returns while reducing reliance on external financing.
Technology And Market Expansion
Rising device complexity increases the number and intensity of etch and deposition steps where Lam participates. Expansion into advanced packaging and other technology inflections can broaden its addressable market, deepen customer integration, and support durable share gains beyond a single product cycle.
Bears Say
Semiconductor Cycle Exposure
Lam's equipment sales depend heavily on customers' capital spending and technology-transition schedules, so strong results can be followed by material downturns. This cyclicality creates lasting variability in revenue, cash generation, and capacity utilization even when the long-term semiconductor market expands.
China Spending Risk
A high recent China revenue contribution leaves Lam exposed to a regional spending slowdown. Lower domestic customer investment can weaken near-term system demand and mix, while the resulting geographic shift may make growth less balanced across customers and markets during the next several months.
Capacity And Supply Constraints
Persistent clean-room and supply constraints could prevent Lam from fully converting customer demand into shipments and revenue. These limitations may delay deployments, pressure execution, and restrict the pace of industry growth, particularly as multiple new fabs are scheduled to come online.
Lam Research News
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Lam Research Stock Smart Score
Company Description
Lam Research
Lam Research Corporation is a prominent supplier of equipment vital for semiconductor processing, encompassing its design, production, sales, repair, and ongoing maintenance. These sophisticated systems are fundamental for the creation of integrated circuits. The company's extensive product catalog features a variety of deposition technologies. For tungsten metallization, they provide ALTUS systems that deposit conformal films. SABRE products excel in electrochemical deposition, crucial for copper interconnect transitions and enabling copper damascene manufacturing. SOLA utilizes ultraviolet thermal processing for film treatments, while VECTOR delivers plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition (ALD) solutions. Furthermore, SPEED addresses gapfill applications with its high-density plasma CVD products, and Striker is engineered for single-wafer atomic layer deposition of dielectric films. Beyond deposition, Lam Research offers a comprehensive suite of etching tools. Flex is designed for dielectric etch applications, Kiyo handles conductor etch processes, Syndion specializes in through-silicon via etching, and Versys metal products are used for metal etch processes. The company's offerings also extend to specialized solutions like Coronus, which enhances die yield through bevel cleaning. For various wafer cleaning requirements, Lam Research supplies multiple product lines, including Da Vinci, DV-Prime, EOS, and SP series. Additionally, Metryx mass metrology systems provide precise, in-line mass measurement capabilities for semiconductor wafer manufacturing. Lam Research serves the global semiconductor industry, distributing its technologies and services across the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and other international markets. Established in 1980, the company maintains its corporate headquarters in Fremont, California.
- Sector
- Technology
- Industry
- Semiconductors
- CEO
- Timothy Archer
- Employees
- 24,300
- Website
- www.lamresearch.com
- Address
- 4650 Cushing Parkway, Fremont, CA, 94538, US
Lam Research (1LRCX) Earnings & Revenues
1LRCX Company Deck
1LRCX Earnings Call
Earnings Call SentimentPositive
The call was strongly positive, marked by record revenue, margins, EPS, cash flow and CSBG performance, strong AI-driven demand, expanding deposition and etch opportunities, multiple product wins, and an improved 2027 WFE outlook. The main challenges were supply chain and clean room constraints, a significantly lower expected China revenue mix in December, a higher tax rate, and customer mix pressure on gross margin. Management remained confident that these constraints can be managed and that Lam is positioned for continued outperformance.
View all IT:1LRCX earnings summaries1LRCX Net sales Breakdown
- 64.07% Systems Revenue
- 35.93% Customer support-related revenue and other
1LRCX Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 5 | 2 | 15 |
| Technical Analysis | 5 | 2 | 3 |
| Moving Averages | 0 | 0 | 12 |
