LRCX Stock Analysis: Lam Research | NASDAQ

Deposition, Etch, Cleaning, Semiconductor Equipment

Total Rating 59

Safety 70

Buy Signal -0.12

Semiconductor Equipment & Materials
Industry Rotation: -44.8

Market Cap: 288B
Avg Turnover: 2.70B

Risk 3d forecast

Volatility78.1%

VaR 5^th Pctl13.6%

VaR vs Median5.76%

Reward TTM

Sharpe Ratio0.96

Rel. Str. IBD49.9

Rel. Str. Peer Group58.6 pctl

Character TTM

Beta2.860

Beta Downside2.219

Hurst Exponent0.486

Choppyness66.1%

Drawdowns 3y

Max DD47.10%

CAGR/Max DD1.31

CAGR/Mean DD4.07

EPS (Earnings per Share)

EPS CAGR: 39.06%
EPS Trend: 99.1%

Last SUE: 0.73
Qual. Beats: 0

Revenue

Rev. CAGR: 24.50%
Rev. Trend: 98.8%

Last SUE: -4.00
Qual. Beats: -1

Warnings

Below Sma 200d

Tailwinds

Confidence

Seasonality 11.7 years of data

Jan +0.4% 10

Feb -0.4% 7

Mar -0.6% 10

Apr -0.6% 7

May +2.9% 40

Jun -0.0% 5

Jul +4.7% 18

Aug -8.5% 46

Sep -4.1% 32

Oct +0.4% 11

Nov +10.0% 16

Dec -0.4% 0

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: LRCX Lam Research

Lam Research Corporation (LRCX) designs, manufactures, refurbishes, and services semiconductor processing equipment used to fabricate integrated circuits, serving customers across the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. The company is headquartered in Fremont, California, and was incorporated in 1980.

Its product portfolio spans deposition, etch, and clean systems that target key steps in wafer fabrication. Deposition offerings include ALTUS for tungsten or molybdenum metallization, SABRE for copper damascene interconnect, Striker for atomic layer deposition (ALD), and VECTOR for plasma-enhanced chemical vapor deposition (CVD). Etch products cover conductor etch (Akara, Kiyo), dielectric etch (Flex, Vantex), selective etch (Argos, Prevos, Selis), deep silicon etch (Syndion), and metal etch (Versys metal). Cleaning solutions include Coronus bevel clean tools and the Da Vinci, DV-Prime, EOS, and SP series for wafer cleaning applications. The company also offers Reliant systems, the Sense.i platform, and customer service, spares, and upgrades.

Lam Research operates within the wafer fabrication equipment (WFE) segment of the broader semiconductor supply chain, providing tools that foundries, memory producers, and integrated device manufacturers rely on for advanced logic and memory chip production. Like other major equipment vendors, its revenue tends to be tied to chipmakers capital expenditure cycles, with a meaningful portion of sales concentrated in leading-edge nodes where deposition and etch precision at nanometer scale are critical.

Headlines to Watch Out For

China export controls restrict memory equipment revenue growth
AI-driven HBM and DRAM demand lifts deposition tool orders
Gross margins expand on advanced node and leading-edge mix

Piotroski VR-10 (Strict) 7.0

Net Income: 8.45b TTM > 0 and > 6% of Revenue
FCF/TA: 0.26 > 0.02 and ΔFCF/TA 0.73 > 1.0
NWC/Revenue: 41.38% < 20% (prev 41.34%; Δ 0.04% < -1%)
CFO/TA 0.29 > 3% & CFO 7.58b > Net Income 8.45b
Net Debt (-3.69b) to EBITDA (10.1b): -0.37 < 3
Current Ratio: 2.48 > 1.5 & < 3
Outstanding Shares: last quarter (1.26b) vs 12m ago -1.07% < -2%
Gross Margin: 51.05% > 18% (prev 49.31%; Δ 1.74% > 0.5%)
Asset Turnover: 108.3% > 50% (prev 89.46%; Δ 18.84% > 0%)
Interest Coverage Ratio: 61.54 > 6 (EBIT TTM 9.65b / Interest Expense TTM 156.9m)

Altman Z'' 10.00

A: 0.41 (Total Current Assets 18.1b - Total Current Liabilities 7.31b) / Total Assets 26.4b
B: 1.33 (Retained Earnings 35.0b / Total Assets 26.4b)
C: 0.40 (EBIT TTM 9.65b / Avg Total Assets 24.1b)
D: 1.12 (Book Value of Equity 13.9b / Total Liabilities 12.4b)
Altman-Z'' = 10.88 = AAA

Beneish M -2.72

DSRI: 1.17 (Receivables 5.66b/3.63b, Revenue 26.1b/19.6b)
GMI: 0.97 (GM 49.31% / 51.05%)
AQI: 0.93 (AQ_t 0.19 / AQ_t-1 0.21)
SGI: 1.33 (Revenue 26.1b / 19.6b)
TATA: 0.03 (NI 8.45b - CFO 7.58b) / TA 26.4b)
Beneish M = -2.72 (Cap -4..+1) = A

What is the price of LRCX shares?

As of October 27, 2026, the stock is trading at USD 237.50 with a total of 11,674,417 shares traded. Over the past week, the price has changed by -12.75%, over one month by -24.48%, over three months by -18.47% and over the past year by +52.07%.

Current recommended Stop Loss: 217.00 (which is 8.6% or 1.4 ATR below the current price).

Is LRCX a buy, sell or hold?

Lam Research has received a consensus analysts rating of 4.54. Therefore, it is recommended to buy LRCX.

StrongBuy: 25
Buy: 4
Hold: 6
Sell: 0
StrongSell: 0

What are the forecasts/targets for the LRCX price?

Analysts Target Price	364	53.3%

Lam Research (LRCX) - Fundamental Data Overview as of 24 October 2026

Market Cap USD = 288b (288b USD * 1.0 USD.USD)
P/E Trailing = 39.9566
P/E Forward = 33.67
P/S = 12.397
P/B = 31.2014
P/EG = 1.4467
Revenue TTM = 26.1b USD
EBIT TTM = 9.65b USD
EBITDA TTM = 10.1b USD
Long Term Debt = 3.72b USD (from longTermDebt, last fiscal year)
Short Term Debt = 94.5m USD (from shortTermDebt, last fiscal year)
Debt = 3.74b USD (from shortLongTermDebtTotal, last quarter) + Leases 12.5m
Net Debt = -3.69b USD (calculated: Debt 3.74b - CCE 7.44b)
Enterprise Value = 284b USD (288b + Debt 3.74b - CCE 7.44b)
Interest Coverage Ratio = 61.54 (Ebit TTM 9.65b / Interest Expense TTM 156.9m)
EV/FCF = 41.38x (Enterprise Value 284b / FCF TTM 6.87b)
FCF Yield = 2.42% (FCF TTM 6.87b / Enterprise Value 284b)
FCF Margin = 26.30% (FCF TTM 6.87b / Revenue TTM 26.1b)
Net Margin = 32.34% (Net Income TTM 8.45b / Revenue TTM 26.1b)
Gross Margin = 51.05% ((Revenue TTM 26.1b - Cost of Revenue TTM 12.8b) / Revenue TTM)
Gross Margin QoQ = 52.30% (prev 51.75%)
Tobins Q-Ratio = 10.79 (Enterprise Value 284b / Total Assets 26.4b)
Interest Expense / Debt = 4.19% (Interest Expense 156.9m / Debt 3.74b)
Taxrate = 1.52% (147.5m / 9.72b)
NOPAT = 9.51b (EBIT 9.65b * (1 - 1.52%))
Current Ratio = 2.48 (Total Current Assets 18.1b / Total Current Liabilities 7.31b)
Debt / Equity = 0.27 (Debt 3.74b / totalStockholderEquity, last quarter 13.9b)
Debt / EBITDA = -0.37 (Net Debt -3.69b / EBITDA 10.1b)
Debt / FCF = -0.54 (Net Debt -3.69b / FCF TTM 6.87b)
Total Stockholder Equity = 11.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 35.02% (Net Income 8.45b / Total Assets 26.4b)
RoE = 71.75% (Net Income TTM 8.45b / Total Stockholder Equity 11.8b)
RoCE = 62.29% (EBIT 9.65b / Capital Employed (Equity 11.8b + L.T.Debt 3.72b))
RoIC = 53.33% (NOPAT 9.51b / Invested Capital 17.8b)
WACC = 15.09% (E(288b)/V(292b) * Re(15.23%) + D(3.74b)/V(292b) * Rd(4.19%) * (1-Tc(0.02)))
Discount Rate = 15.23% (= CAPM, Blume Beta Adj.) -> capped to 12.54%
Shares (quarterly) Correlation: -97.24 | Cagr: -1.90%
[DCF] Terminal Value 59.28% ; FCFF base≈6.34b ; Y1≈7.27b ; Y5≈10.7b
[DCF] Fair Price = 61.13 (EV 72.8b - Net Debt -3.69b = Equity 76.5b / Shares 1.25b; r=15.09% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 99.11 | EPS CAGR: 39.06% | SUE: 0.73 | # QB: 0
Revenue Correlation: 98.77 | Revenue CAGR: 24.50% | SUE: -4.0 | # QB: -1
EPS current Quarter (2026-12-31): EPS=2.35 | Chg30d=+1.76% | Revisions=+25% | Analysts=26
EPS next Quarter (2027-03-31): EPS=2.48 | Chg30d=+2.48% | Revisions=+25% | Analysts=26
EPS current Year (2027-06-30): EPS=9.63 | Chg30d=+1.65% | Revisions=+40% | GrowthEPS=+65.4% | GrowthRev=+52.3%
EPS next Year (2028-06-30): EPS=12.11 | Chg30d=+3.95% | Revisions=+50% | GrowthEPS=+25.8% | GrowthRev=+20.5%
[Analyst] Revisions Ratio: +70% (up=7, down=0)