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Lam ResearchLRCX

Semiconductor Materials & Equipment · Fremont, California · In the S&P 500
Solid business
$239.11−6.01%After hours: $240.25 (+0.48%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 48.8% over 1 year
Lam Research over 1 yearDaily close, $, to 30 Oct 2026
$200$300$400Nov2026MarMayJulSep$239.11$200$400NovMarJul$239.11
Source: Nasdaq daily closes
Market value$299B
Price to earnings35.6x
Forward P/E24.9x
Dividend yield0.55%
Year to date+39.7%
One year+48.8%
Next earningsNot scheduled
SectorInformation Technology
52-week range (closes)
$139.59$433.33

Quality and valuation

How Lam Research compares with other information technology stocks. A description, not a recommendation.

Lam Research and 4 semiconductor materials & equipment peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: in line with its sector

An average business among information technology companies, priced about in line with them.

Lam Research trades at 24.9 times the next 12 months of expected earnings, against a median of 22.2x for the 99 information technology stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +33.4% vs +20.6%
  • Keeps less of each sale (gross margin): 51.1% vs 61.5%
  • More profitable (operating margin): 37.0% vs 17.0%
  • Turns more of its sales into cash: 25.0% vs 21.7%
LRCX trades at 24.9x forward earnings, above the sector medianForward p/e, Semiconductor Materials & Equipment peers
AMAT21.9xQ24.1xLRCX24.9xKLAC27.5xTER28.8xSector median 22.2xAMAT21.9xQ24.1xLRCX24.9xKLAC27.5xTER28.8xSector median 22.2x
Source: CNBC quotes; Mostly Markets
At 35.6x earnings, LRCX is cheaper than its average since Oct 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
20x60x80xAverage 37.8x2025202635.6x25x50x75xAverage 37.8x2025202635.6x
Source: Nasdaq prices; SEC filings

Financials

From Lam Research's SEC filings, through the quarter ending 27 Sep 2026. Hover or tap a bar for its value.

Revenue grew 54.4% from a year earlierQuarterly revenue, $bn, latest Q1 ’27
$0bn$2bn$5bn$8bnQ2 ’25Q4 ’25Q2 ’26$8.2bnQ1 ’27$0bn$5bnQ2 ’25Q4 ’25Q2 ’26$8.2bnQ1 ’27
Source: SEC filings
Growth sped up to +54.4% last quarterRevenue growth, year on year, %
0%20%40%Q2 ’25Q4 ’25Q2 ’2654.4%Q1 ’270%20%40%Q2 ’25Q4 ’25Q2 ’2654.4%Q1 ’27
Source: SEC filings
Operating margin was 40.0% last quarterOperating income as a share of revenue, %
0%10%20%30%40%Q2 ’25Q4 ’25Q2 ’2640.0%Q1 ’270%20%40%Q2 ’25Q4 ’25Q2 ’2640.0%Q1 ’27
Source: SEC filings
Free cash flow was $6.5 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$1bn$2bn$3bnQ2 ’25Q4 ’25Q2 ’26$3.2bnQ1 ’27$0bn$2bnQ2 ’25Q4 ’25Q2 ’26$3.2bnQ1 ’27
Source: SEC filings
Last 12 monthsLRCXSector median
Revenue growth+33.4%+20.6%
Gross margin51.1%61.5%
Operating margin37.0%17.0%
Free cash flow margin25.0%21.7%
Price to earnings35.6x33.1x

Stories on Lam Research

Thursday, 29 October
Earnings

KLA (KLAC) Tops Q1 Estimates as Chip-Inspection Sales Rise 29%

KLA's September-quarter revenue rose 29% to $4.14 billion, ahead of the $4.05 billion expected, and it guided to $4.7 billion for December. The stock rose 5.5% on Thursday.

KLAC▲ 5.5%
A lens scanning a silicon wafer with yellow light
Friday, 23 October
Big movers

Five Stocks That Made News This Week: Zscaler, Hasbro, Lam Research, Meta and Moderna

Zscaler soared 23.0% this week as security stocks rallied and Hasbro 18.9% after raising its outlook, while Lam Research plunged 12.8% on a supply warning and Meta 9.4% on its AI spending.

ZS▲ 7.3%
Screens of market charts
Big movers

Stocks Making the Biggest Moves Yesterday: Moderna, Lam Research, Spotify, Meta and P&G

Moderna plunged 17.6% on Thursday after its melanoma data posted early, Lam Research plunged 11.8% on a supply warning, and Spotify soared 11.1% on its profit forecast.

MRNA▼ 1.2%
A trading floor
Thursday, 22 October
Why it moved

Lam Research (LRCX), KLA (KLAC) and Applied Materials (AMAT) Shares Slide: What Happened

Lam Research plunged 11.8% on Thursday after warning that short supplies of factory space and parts will limit chipmakers into 2027. KLA lost 9.5% and Applied Materials 8.2%.

LRCX▼ 11.8%
Inside a chip factory's cleanroom

Similar companies

Semiconductor Materials & Equipment, by market value.

CompanyPriceTodayYTDValue
AMATApplied Materials$390.09−7.49%+51.8%$310B
KLACKLA$157.91−5.69%+30.0%$206B
TERTeradyne$274.37−7.38%+41.7%$42.90B
QQnity Electronics$116.67−4.88%+42.9%$24.41B