Lam Research Corporation Website

Lam Research Corporation

NasdaqGS-LRCX

Company Overview

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products. It also provides SPEED gapfill high-density plasma chemical vapor deposition products; and Striker single-wafer atomic layer deposition products for dielectric film solutions. In addition, the company offers Flex for dielectric etch applications; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. Further, it provides Coronus bevel clean products to enhance die yield; Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications; and Metryx mass metrology systems for high precision in-line mass measurement in semiconductor wafer manufacturing. The company sells its products and services to semiconductors industry in the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and internationally. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.

  • Name

    Lam Research Corporation

  • CEO

    Timothy Archer

  • Website

    www.lamresearch.com

  • Sector

    Semiconductors and Semiconductor Equipment

  • Year Founded

    1980

Company Statistics

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Bulls Say

  • Lam is the market share leader in etch, which is the largest segment of the WFE market, and holds clear number-two share in deposition.

  • The company is particularly strong in memory equipment and should benefit from secular trends toward denser 3D NAND chips, denser DRAM chips, and high-bandwidth memory.

  • Lam generates good profitability, good free cash flow, and sends most of its cash flow back to shareholders.

Bears Say

  • Lam lacks the scale of Applied Materials, its largest competitor, and could face market share losses if it is not able to adequately invest.

  • The company is prone to cyclicality in the semiconductor industry, which can slow revenue growth and compress margins. This is especially pronounced with Lam’s high exposure to memory customers.

  • Lam faces geopolitical risk arising from tensions between the US and China that could further restrict its ability to ship into Chinese chipmakers.

Source: Morningstar Analysis - Oct 23, 2025

What's happening

Nov 6, 2025 - Dec 6, 2025

Lam Research Corp Faces Monthly Decline Amidst Bullish Sentiment and Market Challenges

  • Morgan Stanley raised its price target for Lam Research from $137 to $158, indicating optimism in the semiconductor sector.
  • UBS increased its price target for LRCX from $165 to $175 following positive discussions on recovery trends among semiconductor stocks.
  • Despite a 3.8% decline over the month, LRCX outperformed the Information Technology (XLK) sector by 46.5%.

Over the past month, Lam Research Corp (LRCX) experienced a decline of 3.8%, underperforming relative to the S&P 500's return of 1.2%. This resulted in a notable difference of -5.0% when compared to the broader market index. Despite this downturn, several bullish sentiments emerged that positively influenced LRCX's stock trajectory at various points during this period.

On December 2, Morgan Stanley raised its price target for LRCX from $137 to $158 while maintaining an Equal-Weight rating, reflecting optimism within the semiconductor equipment sector amid supply shortages and growing production capacity needs. Additionally, Lam Research's involvement in AI supply chains through innovative technologies like ALTUS Halo machines further enhanced investor confidence due to increasing demand for advanced materials.

Earlier in November, analysts expressed strong bullish sentiment as multiple firms raised their price targets significantly; notably, UBS increased its target from $165 to $175 on November 26 after favorable discussions surrounding recovery trends among semiconductor stocks. Furthermore, Lam Research reported robust quarterly earnings showcasing substantial revenue growth driven by effective execution across segments such as Foundry markets.

However, bearish pressures intermittently affected performance throughout November due to mixed options trading activities and insider selling that raised concerns about short-term volatility among traders targeting specific price ranges for LRCX shares. On November 20th, shares fell sharply marking a four-week low amidst broader weakness in tech stocks linked to external factors such as SoftBank’s stake sale in NVIDIA.

Overall market dynamics reflected both potential growth opportunities alongside cautionary signals impacting investor sentiment toward this leading semiconductor manufacturer; however, it is important to note that despite these fluctuations and challenges faced over the month—including a general decline against peers—Lam Research Corp outperformed the Information Technology (XLK) sector by 46.5%.

NasdaqGS:LRCX