Added to YB: 2026-04-27
Pitch date: 2026-04-23
LRCX [neutral]
Lam Research Corporation
-3%
current return
Author Info
No bio for this author
Company Info
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe.
Market Cap
$334.9B
Pitch Price
$267.50
Price Target
N/A
Dividend
0.39%
EV/EBITDA
41.61
P/E
50.58
EV/Sales
15.40
Sector
Semiconductors and Semiconductor Equipment
Category
growth
Lam Research 3QFY26: More Than a Cycle, More Than a Toll Booth
LRCX (earnings): Q3 rev $5.84B, EPS $1.47; gross margin 49.9%, guided to 50.5% (structural, not cyclical). AI driving higher etch/deposition intensity per wafer across NAND, DRAM, packaging. $40B NAND conversion accelerated to finish by end CY27. SAM rising from mid-30s% to high-30s% of WFE. CSBG $2.11B (+25% YoY) on 100k+ installed base. CY26 WFE $140B, CY27 'compelling'. Margins prove operational flywheel, not China mix. Risk: NAND pause post-conversion if AI demand slows CY28.
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