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. Operating leverage has driven operating margi...
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 9/23/2026, 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) |
|---|---|---|
Q3 2026Latest 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 |
Q4 2025 Oct 22, 2025 | $1.26+3.3% vs $1.22 | $5.3B+1.9% vs $5.2B |
REX Advisers will launch the REX AI Chipmaking ETF (CHIP) on Nasdaq Wednesday, according to the fund's prospectus. The fund invests in the equipment makers that build the physical machinery behind artificial intelligence (AI) chips, rather than the companies that design them.
LRCX targets mid-40% operating margins as rising revenues, AI-driven demand and higher-margin services support expansion over several years.
Lam Research (NASDAQ: LRCX - Get Free Report) and Astera Labs (NASDAQ: ALAB - Get Free Report) are both large-cap technology companies, but which is the better business? We will compare the two companies based on the strength of their valuation, dividends, analyst recommendations, risk, earnings, profitability and institutional ownership. Risk and Volatility Lam Research has a
Lam Research Corporation (NASDAQ: LRCX - Get Free Report) rose 7% during trading on Friday. The company traded as high as $288.27 and last traded at $288.11. 19,460,364 shares were traded during trading, an increase of 78% from the average session volume of 10,906,524 shares. The stock had previously closed at $269.31. Analysts Set New
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 |
|---|---|---|---|---|---|---|---|
| $310.96 | $388.88B | 53.99 | 26.02% | 31.27% | 65.07% | 0.32% | |
| $472.46 | $375.11B | 54.56 | 4.39% | 30.05% | 40.44% | — | |
| $188.32 | $246B | 51.45 | 11.71% | 35.57% | 85.38% | — | |
| $1747.90 | $673.67B | 61.68 | 15.58% | 29.71% | 51.95% | — | |
| $398.69 | $62.41B | 114.57 | 13.13% | 25.77% | 37.93% | — | |
| $283.81 | $14.12B | 102.09 | 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)
Jul 29, 2026·SEC
Apr 22, 2026·SEC
Feb 3, 2026·SEC
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Lam Research Corporation (LRCX) stock FAQ — growth, dividends, profitability & financials explained
Lam Research Corporation (LRCX) reported $23.23B in revenue for fiscal year 2026. This represents a 2218% increase from $1.00B in 1997.
Lam Research Corporation (LRCX) grew revenue by 26.0% over the past year. This is strong growth.
Yes, Lam Research Corporation (LRCX) is profitable, generating $7.27B in net income for fiscal year 2026 (31.3% net margin).
Yes, Lam Research Corporation (LRCX) pays a dividend with a yield of 0.32%. This makes it attractive for income-focused investors.
Lam Research Corporation (LRCX) has a return on equity (ROE) of 65.1%. This is excellent, indicating efficient use of shareholder capital.
Lam Research Corporation (LRCX) generated $4.89B in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
