Lam Research Corporation (LRCX)
NASDAQ · Technology · analysed October 12, 2026
Lam Research Corporation, founded in 1980, is a global supplier of semiconductor wafer fabrication equipment and related services, specializing in plasma etch, thin-film deposition, and wafer cleaning solutions. Its technology enables leading chipmakers to build smaller, faster, and more energy-efficient integrated circuits. Currently, the company is focused on expanding its global research and development footprint and advancing atomic-scale manufacturing and packaging technologies to support the surging demand for artificial intelligence hardware.
Executive summary
Lam Research is a premier semiconductor wafer fabrication equipment provider holding leading global market share in etch and deposition tools essential for advanced memory and logic manufacturing4,8. The company generated $23.23 billion in revenue and $4.89 billion in free cash flow in fiscal 2026, supported by strong demand for High Bandwidth Memory and advanced packaging4,11. While fundamental momentum is exceptionally robust with consensus projecting 50.0% revenue growth in fiscal 2027, the stock's 103.4% rise over the past year and premium 33.67x forward P/E leave limited buffer against potential China trade restrictions or cyclical memory spending pauses4,5,7.
Sources cited here, 5 of 24
- 4newsroom.lamresearch.com
- 5stockanalysis.com
- 7chartmill.com
- 8trefis.com
- 11gurufocus.com
Key figures
- Market cap
- $399B
- P/E, trailing
- 55.4
- P/E, next 12 months
- 33.7
- Revenue growth, last fiscal year
- 26.1%
- Net margin, last fiscal year
- 31.3%
The full analysis adds sections on competition, financials and valuation, recent news, upcoming catalysts, institutional investors and fund letters. See the plans or join the waitlist.