Lam Research is capitalizing on accelerating AI-driven wafer fab equipment demand, with revenue growing 30% year-over-year to $6.7B in 2026Q4 and gross margins expanding 420 basis points to 51.7% over ten quarters.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue accelerated 30% year-over-year to $6.7B in 2026Q4, with gross margin expanding to 51.7% and operating margin reaching 37.4%, driving EPS growth of 148% from $0.73 to $1.81 over ten quarters.
Multiple analysts have upgraded LRCX, with price targets as high as $330, and a consensus 'Strong Buy' rating among 43 analysts with a median target of $315, suggesting a 26.6% upside from $248.75.
Institutional ownership is high at approximately 84.61%, reflecting strong investor confidence in Lam Research's market position.
The semiconductor sector is benefiting from AI-driven demand, with advanced packaging expected to grow over 40% in 2026, positioning LRCX favorably.
Analysts warn LRCX may be overvalued, with a DCF analysis suggesting a fair value around $205.96 compared to the last closing price of $248.75.
The semiconductor industry is cyclical, and a slowdown in wafer fab spending could lead to a rapid reset of earnings for LRCX.
U.S. 'affiliate rules' are projected to impact revenue by approximately $600 million in 2026, increasing geopolitical risks.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 21, 2026 | $2.20+0.9% vs $2.18 | $8.2B+1.0% vs $8.1B |
Q3 2026 Jul 29, 2026 | $1.82+7.7% vs $1.69 | $6.7B+0.9% vs $6.7B |
Q2 2026 Apr 22, 2026 | $1.47+8.1% vs $1.36 | $5.8B+1.6% vs $5.8B |
Q1 2026 Jan 28, 2026 | $1.27+8.5% vs $1.17 | $5.3B+2.1% vs $5.2B |
A $25 billion buyback sparked a rally in Lam Research after a brutal chip selloff. But your semiconductor, tech, and Nasdaq-100 funds may hold the same stock three times over, and that overlap cuts both ways.
When stock prices fall, every buyback dollar goes further. These five companies are taking advantage.
Stock futures are trading mixed as Wall Street digests today's nonfarm payrolls data and yesterday's steep selloff
Chip stocks erased roughly $1.5 trillion in a single session, and nobody agrees on why. Regulation fears, hedge fund profit-taking, and a capex slowdown all compete for blame, and the real culprit decides what happens next.
Benchmark LRCX against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Lam Research Corporation (LRCX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $200.44 | $250.66B | 34.80 | 26.02% | 31.27% | 65.07% | 0.5% | |
| $332.72 | $264.16B | 38.42 | 4.39% | 30.05% | 40.44% | 0.51% | |
| $138.49 | $180.91B | 37.84 | 11.71% | 36.25% | 87.02% | 0.58% | |
| $1424.75 | $549.12B | 51.59 | 15.58% | 34.14% | 63.92% | 0.49% | |
| $218.22 | $34.16B | 62.71 | 13.13% | 27.46% | 41.77% | 0.22% | |
| $173.28 | $8.62B | 62.33 | 1.82% | 11.84% | 6.5% | — |
Lam Research Corporation (LRCX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Lam Research Corporation (LRCX) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 21, 2026·SEC
Jul 29, 2026·SEC
Apr 22, 2026·SEC
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Lam Research Corporation (LRCX) stock FAQ — growth, dividends, profitability & financials explained
Lam Research Corporation (LRCX) reported $26.13B in revenue over the trailing twelve months. Revenue was $23.23B in fiscal year 2026. That is 2218% more than the $1.00B of fiscal year 1997.
Lam Research Corporation (LRCX) grew revenue by 26.0% in fiscal year 2026, compared with the prior fiscal year.
Yes. Lam Research Corporation (LRCX) earned $8.45B in net income over the trailing twelve months (a 32.3% net margin).
Yes. Lam Research Corporation (LRCX) pays a dividend that yields 0.50% at the current price, a small yield.
Lam Research Corporation (LRCX) had a return on equity (ROE) of 65.1% in fiscal year 2026. That is well above the market's typical 10-15%.
Lam Research Corporation (LRCX) generated $6.54B in free cash flow over the trailing twelve months.
