LRCX Stock - Lam Research Corporation
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Financial Statements
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $18.44B | $14.91B | $17.43B | $17.23B | $14.63B |
| Gross Profit | $8.98B | $7.05B | $7.78B | $7.87B | $6.81B |
| Gross Margin | 48.7% | 47.3% | 44.6% | 45.7% | 46.5% |
| Operating Income | $5.90B | $4.26B | $5.17B | $5.38B | $4.48B |
| Net Income | $5.36B | $3.83B | $4.51B | $4.61B | $3.91B |
| Net Margin | 29.1% | 25.7% | 25.9% | 26.7% | 26.7% |
| EPS | $4.17 | $2.91 | $3.33 | $3.29 | $2.72 |
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. In addition, the company offers Flex for dielectric etch applications; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. Further, it provides Coronus bevel clean products to enhance die yield; Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications; and Metryx mass metrology systems for high precision in-line mass measurement in semiconductor wafer manufacturing. The company sells its products and services to semiconductors industry in the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and internationally. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| October 23rd 2025 | TD Cowen | Reiterated | Buy | $170← $145 |
| September 30th 2025 | HSBC Securities | Initiation | Hold | $127 |
| September 29th 2025 | Deutsche Bank | Upgrade | Buy | $150 |
| September 23rd 2025 | KeyBanc Capital Markets | Downgrade | Sector Weight | - |
| September 22nd 2025 | Morgan Stanley | Upgrade | Equal Weight | $125 |
| September 2nd 2025 | Morgan Stanley | Downgrade | Underweight | $92 |
| August 14th 2025 | Erste Group | Resumed | Buy | - |
| July 31st 2025 | TD Cowen | Reiterated | Buy | $125← $100 |
| July 31st 2025 | Summit Insights | Downgrade | Hold | - |
| July 10th 2025 | Goldman | Initiation | Buy | $115 |
| April 24th 2025 | TD Cowen | Reiterated | Buy | $100← $110 |
| March 20th 2025 | Oppenheimer | Resumed | Outperform | $95 |
| February 20th 2025 | Susquehanna | Upgrade | Positive | $125← $75 |
| January 30th 2025 | Bernstein | Upgrade | Outperform | $91← $85 |
| January 30th 2025 | Cantor Fitzgerald | Upgrade | Overweight | $100 |
Earnings History & Surprises
LRCXEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 21, 2026 | — | — | — | — |
Q1 2026 | Feb 4, 2026 | $1.15 | — | — | — |
Q4 2025 | Oct 22, 2025 | $1.22 | $1.26 | +3.3% | ✓ BEAT |
Q3 2025 | Jul 30, 2025 | $1.21 | $1.33 | +9.9% | ✓ BEAT |
Q2 2025 | Apr 23, 2025 | $1.00 | $1.04 | +4.0% | ✓ BEAT |
Q1 2025 | Jan 29, 2025 | $0.88 | $0.91 | +3.6% | ✓ BEAT |
Q4 2024 | Oct 23, 2024 | $0.81 | $0.86 | +6.2% | ✓ BEAT |
Q3 2024 | Jul 31, 2024 | $0.76 | $0.81 | +6.9% | ✓ BEAT |
Q2 2024 | Apr 24, 2024 | $7.30 | $0.78 | -89.3% | ✗ MISS |
Q1 2024 | Jan 24, 2024 | $0.71 | $0.75 | +5.6% | ✓ BEAT |
Q4 2023 | Oct 18, 2023 | $0.61 | $0.69 | +13.1% | ✓ BEAT |
Q3 2023 | Jul 26, 2023 | $0.50 | $0.60 | +20.0% | ✓ BEAT |
Q2 2023 | Apr 19, 2023 | $0.65 | $0.70 | +7.7% | ✓ BEAT |
Q1 2023 | Jan 25, 2023 | $1.00 | $1.07 | +7.0% | ✓ BEAT |
Q4 2022 | Oct 19, 2022 | $0.95 | $1.04 | +9.5% | ✓ BEAT |
Q3 2022 | Jul 27, 2022 | $0.73 | $0.88 | +20.5% | ✓ BEAT |
Q2 2022 | Apr 20, 2022 | $0.75 | $0.74 | -1.3% | ✗ MISS |
Q1 2022 | Jan 26, 2022 | $0.85 | $0.85 | 0.0% | = MET |
Q4 2021 | Oct 20, 2021 | $0.81 | $0.84 | +3.7% | ✓ BEAT |
Q3 2021 | Jul 28, 2021 | $0.75 | $0.81 | +8.0% | ✓ BEAT |
Latest News
B. Riley Securities Maintains Buy on Lam Research, Raises Price Target to $195
📈 PositiveMizuho Maintains Outperform on Lam Research, Raises Price Target to $200
📈 PositiveJefferies Maintains Buy on Lam Research, Raises Price Target to $200
📈 PositiveMorgan Stanley Maintains Equal-Weight on Lam Research, Raises Price Target to $158
📈 PositiveUBS Maintains Buy on Lam Research, Raises Price Target to $175
📈 PositiveShares of semiconductor stocks are trading higher amid a broader rebound in tech names. Stocks across sectors are also higher amid Fed Governor Waller backing a December rate cut.
📈 PositiveLam Research Expands Investment In Silicon Forest to Advance Semiconductor Leadership In the AI Era
📈 PositiveShares of companies in the broader chip sector are trading higher, rebounding from recent weakness in tech stocks.
📈 PositiveShares of broader chip stocks are trading lower. The sector has been under pressure amid AI valuation uncertainty and profit taking.
📉 NegativeShares of semiconductor stocks are trading lower amid continued weakness due to a broader selloff in tech and AI-related names.
📉 NegativeShares of chip stocks are trading lower amid a broader selloff in tech and AI-related names.
📉 NegativeLam Research's Fabric8Labs Venture Arm Announces $50M Financing Round To Expand Its U.S.-Based Production Sites
📈 PositiveCitigroup Maintains Buy on Lam Research, Raises Price Target to $190
📈 PositiveShares of chip stocks are trading lower amid overall market weakness as investors assess tech valuations, a drop in consumer sentiment and the US government shutdown.
📉 NegativeShares of chip stocks are trading lower after Chicago Fed President Goolsbee expressed uncertainty about further rate cuts, citing the prolonged government shutdown as the reason for lack of recent inflation data.
📉 NegativeShares of chip stocks are trading higher amid the Supreme Court's tariff hearing.
📈 PositiveShares of chip and semiconductor stocks are trading lower amid overall tech weakness, with investors possibly assessing earnings and AI-related valuations.
📉 NegativeCNBC Halftime Report Final Trades: Alphabet Class A, Amazon, Lam Research
➖ NeutralUBS Maintains Buy on Lam Research, Raises Price Target to $165
📈 PositiveJP Morgan Maintains Overweight on Lam Research, Raises Price Target to $165
📈 PositiveFrequently Asked Questions about LRCX
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