LRCX
TechnologyLam Research Corporation · Semiconductors · $386B
What is Lam Research Corporation?
Lam Research Corporation is a leading designer and manufacturer of semiconductor processing equipment used in integrated circuit fabrication, serving chipmakers worldwide from its headquarters in Fremont, California.
Lam Research generates revenue by selling and servicing specialized equipment that deposits, etches, and cleans materials on silicon wafers during chip manufacturing. Customers are semiconductor fabricators across the United States, China, Japan, Korea, Taiwan, and Southeast Asia who rely on Lam's systems to produce advanced integrated circuits.
Incorporated in 1980 and established as a major industry force by 1984, Lam Research has grown into a mega-cap leader in semiconductor equipment.
- Etch systems (Flex, Kiyo, Syndion, Versys) for dielectric, conductor, and metal etch processes
- Deposition systems (ALTUS, SABRE, VECTOR, Striker) for film and interconnect applications
- Wafer cleaning products (Coronus, Da Vinci, EOS, SP series)
- Metryx mass metrology systems for in-line wafer measurement
Is LRCX a Good Stock to Buy?
UQS Score rates LRCX as Good overall, reflecting a balanced profile across all five pillars.
The Risk pillar stands out as the strongest signal, suggesting Lam Research carries below-average financial vulnerability relative to sector peers. Quality and Moat ratings indicate a durable business with defensible market positioning in critical semiconductor equipment categories.
Valuation is rated Elevated, meaning the current price may already reflect much of the company's fundamental strength.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does LRCX pay dividends?
Yes — Lam Research Corporation pays a dividend.
Lam Research pays a regular dividend, which is relatively uncommon among high-growth semiconductor equipment companies. This reflects the company's ability to generate consistent cash flow while still investing in research and product development.
When does LRCX report earnings?
Lam Research reports earnings on a quarterly cadence, typical for US-listed equities.
Lam's results tend to track closely with semiconductor capital expenditure cycles, meaning revenue can fluctuate as chipmakers expand or pause fab investments. The company's diversified geographic customer base helps moderate swings across any single regional market.
For the most recent quarter's results, visit Lam Research's investor relations page directly.
LRCX Price History
+319.4% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Lam Research Corporation?
Based on Lam Research Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
Frequently Asked Questions
What does Lam Research do?
Lam Research designs and manufactures equipment used to etch, deposit, and clean materials on silicon wafers during chip fabrication. Its systems are critical steps in producing advanced semiconductors for consumer electronics, data centers, and communications.
Does LRCX pay dividends?
Yes, Lam Research pays a regular dividend. This reflects the company's capacity to return capital to shareholders while continuing to fund product development. For current dividend details, check Lam's investor relations page.
When does LRCX report earnings?
Lam Research follows a standard quarterly reporting schedule. Exact dates vary each cycle, so check the company's investor relations page or a financial calendar for the most current schedule.
Is LRCX a good stock to buy?
UQS Score rates LRCX as Good, with a notably Strong Risk pillar and Good ratings across Quality, Moat, and Growth. Valuation is Elevated, which is worth weighing. Pro members can view the complete pillar breakdown to inform their own assessment.
Is LRCX overvalued?
The UQS Valuation pillar for LRCX is rated Elevated, suggesting the market price reflects a premium relative to fundamental benchmarks. Whether that premium is justified depends on growth expectations and risk tolerance — see the full analysis for context.
What is LRCX's market cap bracket?
Lam Research is classified as a mega-cap company, placing it among the largest publicly traded firms in the semiconductor equipment sector.
Who founded Lam Research?
Lam Research was founded by David K. Lam. The company was incorporated in 1980 and is headquartered in Fremont, California. Further founding history is available through publicly accessible sources.
Is LRCX a long-term quality indicator?
The UQS framework evaluates long-term quality through its Moat, Quality, and Risk pillars — all rated Good or Strong for LRCX. This suggests a structurally sound business, though Elevated Valuation is a factor long-term investors should consider alongside the full analysis.
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Pro Analysis
LRCX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 68.8 | 77.2 | 66.0 | 69.2 | 95.0 | 32.7 | 0.0 |
| May 22, 2026 | 68.8 | 77.1 | 66.0 | 69.2 | 95.0 | 32.7 | -0.1 |
| May 21, 2026 | 68.9 | 77.3 | 66.0 | 69.2 | 95.0 | 33.2 | 0.0 |
| May 17, 2026 | 68.9 | 77.4 | 66.0 | 69.2 | 95.0 | 33.4 | 0.0 |
| May 14, 2026 | 68.9 | 77.3 | 66.0 | 69.2 | 95.0 | 33.1 | 0.0 |
| May 12, 2026 | 68.9 | 77.3 | 66.0 | 69.2 | 95.0 | 33.0 | +0.6 |
| May 7, 2026 | 68.3 | 77.5 | 66.0 | 69.2 | 91.1 | 33.0 | -0.3 |
| May 5, 2026 | 68.6 | 77.5 | 66.0 | 69.2 | 91.1 | 34.6 | 0.0 |
| May 3, 2026 | 68.6 | 77.5 | 66.0 | 69.2 | 91.1 | 34.5 | +0.2 |
| Apr 25, 2026 | 68.4 | 77.5 | 66.0 | 69.2 | 91.1 | 33.8 | +0.1 |
LRCX — Pillar Breakdown
Quality
— 77.2/100 (25%)Lam Research Corporation demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 69.2/100 (20%)Lam Research Corporation demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 95.0/100 (15%)Lam Research Corporation carries minimal financial risk with conservative leverage and strong solvency.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 32.7/100 (15%)Lam Research Corporation appears expensively valued relative to its fundamentals and growth prospects.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 66/100 (25%)Lam Research Corporation has meaningful competitive advantages that should protect its market position. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for LRCX.
Score Composition
Financial Data
More Stock Analysis
How is the LRCX UQS Score Calculated?
The UQS (Unified Quality Score) for Lam Research Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Lam Research Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Lam Research Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.