Loading…
Lam Research Corp
Lam Research Corp (LRCX) is listed on NASDAQ and classified in Semiconductor Equipment & Materials, part of the Technology sector. It is headquartered in Fremont, United States and has 23,300 employees. The company is worth $288.02B and trades at 34.3x its earnings of the last twelve months; the median for its sector is 28.0x. Revenue was $23.23B in fiscal 2026, up 26.0% from the year before. Net income was $7.27B. The share price is 47.5% below its 52-week high of $438.50. It pays a dividend yielding 0.57%, and has raised its annual dividend for 10 years in a row in our records. 13 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Philippe Laffont (Coatue Management), at $4.09B. In that quarter, 6 of them opened or added to the position and 5 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Articles on this site that cover Lam Research Corp.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +288.2% over 5Y.
today you would have $4,926.73▲ +392.7%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 18 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $263.94 | $171.18 | $72.23 | $78.33 | $42.03 | $71.92 | $47.23 | $29.24 | $13.62 | $18.41 | $10.57 | $7.94 | $7.93 | $5.45 | $3.61 | $3.70 | $5.18 | $3.92 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 16.4% a year plus a 0.6% dividend yield. Growth capped at 25%.
Median P/E of 28.0 among peers in the sector.
Median P/E of 21.9 across this company’s own years on record.
Cash flow growing 15.0% a year for 10 years, discounted at 10%, then 2.5% forever.
Sector median of 14.3x operating profit, less net debt. Banks have no EBITDA.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Technology, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| DELLDell Technologies Inc. | $452.95 | 26.3x | — | 0.56% | — | $287.99B |
| PANWPalo Alto Networks Inc | $354.92 | 865.7x | 10.5x | 0.00% | 1.74% | $290.32B |
| AMATApplied Materials Inc | $375.58 | 35.3x | 11.6x | 0.56% | 41.07% | $298.06B |
| SAPSAP SE | $240.59 |
| P/E | 21.9x | 45.8x | 41.2x | 24.9x | 23.6x | 12.8x | 26.7x | 31.3x | 21.3x | 10.3x | 19.9x | 20.3x | 21.5x | 21.9x | 82.5x | 26.8x | 6.4x | 19.1x | — |
| P/S | 3.5x | 14.2x | 11.8x | 6.3x | 6.0x | 3.3x | 7.0x | 6.8x | 4.4x | 1.9x | 3.7x | 2.9x | 2.4x | 2.8x | 2.5x | 2.5x | 1.4x | 3.1x | 4.4x |
| P/B | 4.0x | 26.5x | 22.0x | 11.0x | 12.6x | 9.2x | 16.9x | 13.3x | 9.0x | 3.3x | 4.4x | 2.9x | 2.5x | 2.6x | 2.0x | 1.3x | 1.9x | 3.7x | 3.4x |
| EPS | $5.76 | $4.15 | $2.90 | $3.32 | $3.28 | $2.69 | $1.51 | $1.37 | $1.32 | $0.92 | $0.52 | $0.37 | $0.36 | $0.07 | $0.14 | $0.58 | $0.27 | -$0.24 |
| Dividend yield | 1.04% | 0.32% | 0.57% | 1.19% | 0.95% | 1.53% | 0.78% | 1.04% | 1.54% | 2.79% | 1.01% | 1.28% | 1.36% | 0.68% | — | — | — | — | — |
| Payout | 23.61% | 14.76% | 23.61% | 29.66% | 22.44% | 19.69% | 20.82% | 32.45% | 32.85% | 28.85% | 20.02% | 25.86% | 29.19% | 14.92% | — | — | — | — | — |
| Profit margin | 21.92% | 31.27% | 29.06% | 25.68% | 25.88% | 26.73% | 26.72% | 22.42% | 22.70% | 21.49% | 21.19% | 15.53% | 12.47% | 13.72% | 3.16% | 6.33% | 22.35% | 16.25% | -27.08% |
| ROE | 32.96% | 58.26% | 54.33% | 44.82% | 54.94% | 73.35% | 64.85% | 43.53% | 46.89% | 36.62% | 24.90% | 15.51% | 12.85% | 12.57% | 2.54% | 3.29% | 29.30% | 19.61% | -20.79% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
-48.2% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 29.8x |
| 5.6x |
| 1.22% |
| 18.32% |
| $277.69B |
| TXNTexas Instruments Inc | $279.50 | 36.9x | 15.6x | 2.18% | 35.18% | $255.25B |
| CRWDCrowdStrike Holdings, Inc. | $237.94 | 4758.8x | 47.8x | 0.00% | 1.46% | $243.64B |
