LRCX Stock Analysis: Lam Research | NASDAQ

Deposition, Etch, Cleaning, Semiconductor Equipment

Total Rating 82

Safety 78

Buy Signal -0.09

Semiconductor Equipment & Materials
Industry Rotation: +6.5

Market Cap: 401B
Avg Turnover: 2.69B

Risk 3d forecast

Volatility51.2%

VaR 5^th Pctl8.87%

VaR vs Median5.28%

Reward TTM

Sharpe Ratio1.60

Rel. Str. IBD89.7

Rel. Str. Peer Group61.8

Character TTM

Beta2.803

Beta Downside2.090

Hurst Exponent0.418

Drawdowns 3y

Max DD47.10%

CAGR/Max DD1.50

CAGR/Mean DD4.77

EPS (Earnings per Share)

EPS CAGR: 31.90%
EPS Trend: 96.2%

Last SUE: 3.60
Qual. Beats: 10

Revenue

Rev. CAGR: 19.02%
Rev. Trend: 94.2%

Last SUE: 0.84
Qual. Beats: 8

Warnings

Fakeout

Below Avwap Earnings

Tailwinds

Rs Leader

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 -4.5% 29

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) 6.5

Net Income: 7.27b TTM > 0 and > 6% of Revenue
FCF/TA: 0.21 > 0.02 and ΔFCF/TA -4.25 > 1.0
NWC/Revenue: 41.64% < 20% (prev 43.12%; Δ -1.48% < -1%)
CFO/TA 0.25 > 3% & CFO 5.86b > Net Income 7.27b
Net Debt (-1.45b) to EBITDA (8.70b): -0.17 < 3
Current Ratio: 2.63 > 1.5 & < 3
Outstanding Shares: last quarter (1.26b) vs 12m ago -1.24% < -2%
Gross Margin: 50.47% > 18% (prev 48.71%; Δ 1.76% > 0.5%)
Asset Turnover: 103.5% > 50% (prev 86.37%; Δ 17.18% > 0%)
Interest Coverage Ratio: 52.14 > 6 (EBIT TTM 8.26b / Interest Expense TTM 158.5m)

Altman Z'' 10.00

A: 0.41 (Total Current Assets 15.6b - Total Current Liabilities 5.94b) / Total Assets 23.5b
B: 1.49 (Retained Earnings 35.0b / Total Assets 23.5b)
C: 0.37 (EBIT TTM 8.26b / Avg Total Assets 22.4b)
D: 1.13 (Book Value of Equity 12.5b / Total Liabilities 11.1b)
Altman-Z'' = 11.20 = AAA

Beneish M -2.64

DSRI: 1.25 (Receivables 5.34b/3.38b, Revenue 23.2b/18.4b)
GMI: 0.97 (GM 48.71% / 50.47%)
AQI: 1.02 (AQ_t 0.21 / AQ_t-1 0.21)
SGI: 1.26 (Revenue 23.2b / 18.4b)
TATA: 0.06 (NI 7.27b - CFO 5.86b) / TA 23.5b)
Beneish M = -2.64 (Cap -4..+1) = A

What is the price of LRCX shares?

As of October 13, 2026, the stock is trading at USD 309.56 with a total of 6,256,800 shares traded. Over the past week, the price has changed by -10.48%, over one month by +13.31%, over three months by -6.07% and over the past year by +125.67%.

Current recommended Stop Loss: 291.20 (which is 5.9% 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	375.7	21.3%

Lam Research (LRCX) - Fundamental Data Overview as of 10 October 2026

Market Cap USD = 401b (401b USD * 1.0 USD.USD)
P/E Trailing = 55.658
P/E Forward = 33.67
P/S = 17.2685
P/B = 31.2014
P/EG = 1.4467
Revenue TTM = 23.2b USD
EBIT TTM = 8.26b USD
EBITDA TTM = 8.70b USD
Long Term Debt = 3.72b USD (from longTermDebt, last quarter)
Short Term Debt = 94.5m USD (from shortTermDebt, last quarter)
Debt = 4.13b USD (from shortLongTermDebtTotal, last quarter) + Leases 12.5m
Net Debt = -1.45b USD (calculated: Debt 4.13b - CCE 5.58b)
Enterprise Value = 400b USD (401b + Debt 4.13b - CCE 5.58b)
Interest Coverage Ratio = 52.14 (Ebit TTM 8.26b / Interest Expense TTM 158.5m)
EV/FCF = 80.48x (Enterprise Value 400b / FCF TTM 4.97b)
FCF Yield = 1.24% (FCF TTM 4.97b / Enterprise Value 400b)
FCF Margin = 21.38% (FCF TTM 4.97b / Revenue TTM 23.2b)
Net Margin = 31.27% (Net Income TTM 7.27b / Revenue TTM 23.2b)
Gross Margin = 50.47% ((Revenue TTM 23.2b - Cost of Revenue TTM 11.5b) / Revenue TTM)
Gross Margin QoQ = 51.75% (prev 49.83%)
Tobins Q-Ratio = 16.99 (Enterprise Value 400b / Total Assets 23.5b)
Interest Expense / Debt = 3.83% (Interest Expense 158.5m / Debt 4.13b)
Taxrate = 12.07% (997.1m / 8.26b)
NOPAT = 7.27b (EBIT 8.26b * (1 - 12.07%))
Current Ratio = 2.63 (Total Current Assets 15.6b / Total Current Liabilities 5.94b)
Debt / Equity = 0.33 (Debt 4.13b / totalStockholderEquity, last quarter 12.5b)
Debt / EBITDA = -0.17 (Net Debt -1.45b / EBITDA 8.70b)
Debt / FCF = -0.29 (Net Debt -1.45b / FCF TTM 4.97b)
Total Stockholder Equity = 10.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 32.38% (Net Income 7.27b / Total Assets 23.5b)
RoE = 66.97% (Net Income TTM 7.27b / Total Stockholder Equity 10.8b)
RoCE = 56.71% (EBIT 8.26b / Capital Employed (Equity 10.8b + L.T.Debt 3.72b))
RoIC = 43.97% (NOPAT 7.27b / Invested Capital 16.5b)
WACC = 15.71% (E(401b)/V(405b) * Re(15.84%) + D(4.13b)/V(405b) * Rd(3.83%) * (1-Tc(0.12)))
Discount Rate = 15.84% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -98.35 | Cagr: -1.85%
[DCF] Terminal Value 52.36% ; FCFF base≈5.15b ; Y1≈4.81b ; Y5≈4.41b
[DCF] Fair Price = 26.34 (EV 31.5b - Net Debt -1.45b = Equity 33.0b / Shares 1.25b; r=15.71% [WACC]; 5y FCF grow -8.26% → 2.50% )
EPS Correlation: 96.25 | EPS CAGR: 31.90% | SUE: 3.60 | # QB: 10
Revenue Correlation: 94.15 | Revenue CAGR: 19.02% | SUE: 0.84 | # QB: 8
EPS current Quarter (2026-09-30): EPS=2.18 | Chg30d=+0.00% | Revisions=+88% | Analysts=25
EPS next Quarter (2026-12-31): EPS=2.31 | Chg30d=+0.14% | Revisions=+88% | Analysts=25
EPS current Year (2027-06-30): EPS=9.47 | Chg30d=+0.13% | Revisions=+50% | GrowthEPS=+62.8% | GrowthRev=+50.0%
EPS next Year (2028-06-30): EPS=11.76 | Chg30d=+1.66% | Revisions=+50% | GrowthEPS=+24.2% | GrowthRev=+18.5%
[Analyst] Revisions Ratio: +94% (up=50, down=0)