Lam Research Corp Stock Research

Market Summary

USD515.19+28.14

Delayed

5.78%

LRCX Alerts

1 major insider sales recently.

LRCX Stock Price

LRCX RSI Chart

LRCX Valuation

Market Cap

69.8B

Price/Earnings (Trailing)

13.61

Price/Sales (Trailing)

3.66

EV/EBITDA

11.46

Price/Free Cashflow

19.75

LRCX Price/Sales (Trailing)

LRCX Profitability

EBT Margin

30.45%

Return on Equity

61.71%

Return on Assets

26.68%

Free Cashflow Yield

5.06%

LRCX Fundamentals

LRCX Revenue

Revenue (TTM)

19.0B

Revenue Y/Y

24.87%

Revenue Q/Q

4.01%

LRCX Earnings

Earnings (TTM)

5.1B

Earnings Y/Y

22.91%

Earnings Q/Q

2.99%

Price Action

52 Week Range

299.59572.86

(Low)(High)

Last 7 days

-1.3%

Last 30 days

-4.5%

Last 90 days

9.2%

Trailing 12 Months

0.8%

LRCX Financial Health

Current Ratio

3.01

Debt/Equity

0.6

Debt/Cashflow

0.71

LRCX Investor Care

Dividend Yield

1.25%

Dividend/Share (TTM)

6.45

Buy Backs (1Y)

3.72%

Diluted EPS (TTM)

37.19

Peers (Alternatives to Lam Research)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
NVDA	629.8B	27.0B	11.20%	5.54%	144.19	23.35	0.22%	-55.21%
AMD	155.7B	23.6B	7.88%	-17.97%	117.97	6.6	43.61%	-58.25%
INTC	124.9B	63.1B	-0.49%	-34.58%	15.58	1.98	-20.21%	-59.66%
LRCX	69.8B	19.0B	-4.55%	0.82%	13.61	3.66	15.27%	11.65%
KLAC	55.1B	10.5B	-8.04%	12.28%	15.56	5.26	28.39%	18.56%
FSLR	22.0B	2.6B	21.50%	171.10%	-498.6	8.41	-10.40%	-109.42%
MID-CAP
MKSI	6.0B	3.5B	-12.54%	-39.21%	18.13	1.7	20.25%	-39.61%
ACLS	4.3B	920.0M	-3.48%	92.24%	23.28	4.63	38.88%	85.58%
ONTO	4.3B	1.0B	3.60%	8.92%	19.08	4.24	27.42%	56.89%
SMALL-CAP
VECO	1.1B	646.1M	2.51%	-24.82%	6.59	1.7	10.78%	541.15%
ACMR	729.0M	388.8M	-6.91%	-74.10%	18.57	1.87	49.69%	3.99%
ASYS	122.8M	101.4M	-6.35%	-12.38%	9.01	1.21	8.22%	662.93%
CVV	79.7M	23.3M	-13.86%	179.08%	-26.9	3.42	56.36%	-569.95%

Financials for Lam Research

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	5.8%	19,048	17,997	17,227	16,737	16,524
Gross Profit	4.8%	8,630	8,232	7,872	7,686	7,650
Operating Expenses	2.2%	2,581	2,524	2,490	2,468	2,428
S&GA Expenses	-0.3%	867	869	886	893	880
R&D Expenses	3.5%	1,714	1,655	1,604	1,575	1,549
EBITDA	5.1%	6,134	5,834	5,702	5,654	-
EBITDA Margin	-0.7%	0.32*	0.32*	0.33*	0.34*	-
Earnings Before Taxes	5.4%	5,800	5,504	5,193	5,143	5,168
EBT Margin	-0.4%	0.30*	0.31*	0.30*	0.31*	-
Interest Expenses	-	176	-	-	-	-
Net Income	5.6%	5,125	4,851	4,605	4,541	4,590
Net Income Margin	-0.2%	0.27*	0.27*	0.27*	0.27*	-
Free Cahsflow	-7.8%	3,531	3,832	3,100	4,092	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.6%	19,206	18,721	17,196	16,589	16,685
Current Assets	0.7%	13,709	13,613	12,285	11,888	12,103
Cash Equivalents	5.4%	4,485	4,256	3,522	4,195	5,087
Inventory	10.5%	4,820	4,360	3,966	3,479	3,074
Goodwill	6.7%	1,600	1,500	1,500	1,500	1,490
Liabilities	-3.6%	10,902	11,309	10,917	10,563	10,210
Current Liabilities	-10.0%	4,547	5,053	4,565	4,195	3,863
Long Term Debt	0.0%	4,996	4,996	4,998	5,001	4,988
Shareholder's Equity	12.0%	8,305	7,413	6,278	6,026	6,476
Retained Earnings	6.3%	20,879	19,645	18,455	17,451	16,638
Additional Paid-In Capital	1.5%	7,606	7,493	7,415	7,289	7,220
Accumulated Depreciation	-	1,440	-	-	-	-
Shares Outstanding	-0.7%	135	136	137	139	141
Float	-	77,032	-	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-7.8%	3,531	3,832	3,100	4,092	4,499
Share Based Compensation	3.8%	282	272	259	246	233
Cashflow From Investing	-404.0%	-565	-112	612	1,377	1,588
Cashflow From Financing	-2.4%	-3,546	-3,462	-4,578	-4,937	-4,675
Dividend Payments	3.0%	860	835	815	793	769
Buy Backs	1.5%	2,780	2,739	3,866	3,421	3,177

Risks for LRCX

What is the probability of a big loss on LRCX?

79.2%

Probability that Lam Research stock will be more than 20% underwater in next one year

57.7%

Probability that Lam Research stock will be more than 30% underwater in next one year.

38.5%

Probability that Lam Research stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does LRCX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Lam Research was unfortunately bought at previous high price.

Drawdowns

Returns for LRCX

Cumulative Returns on LRCX

29.5%

10-Year Cumulative Returns

31.8%

7-Year Cumulative Returns

18.7%

5-Year Cumulative Returns

24.3%

3-Year Cumulative Returns

What are the long-term rolling returns for LRCX?

FIve years rolling returns for Lam Research.

Annualized Returns

Which funds bought or sold LRCX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-14.23	-93,016	8,610,980	0.24%
2023-03-10	MATHER GROUP, LLC.	reduced	-6.85	79,136	1,223,140	0.02%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	6.84	32,112,400	173,665,000	0.19%
2023-03-06	OLD MISSION CAPITAL LLC	sold off	-100	-296,000	-	-%
2023-03-06	Rockefeller Capital Management L.P.	added	97.95	7,392,000	13,198,000	0.07%
2023-03-03	TIAA, FSB	reduced	-8.44	124,453	2,539,450	0.01%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	1,261	1,261	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	reduced	-30.82	-61,052	234,948	0.13%
2023-03-01	Regal Investment Advisors LLC	reduced	-0.76	47,088	382,088	0.04%
2023-02-28	Voya Investment Management LLC	reduced	-11.66	-356,470,000	366,096,000	0.52%

Latest Funds Activity

Are funds buying LRCX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own LRCX

No. of Funds

LRCX Alerts

1 major insider sales recently.

Lam Research News

Schedule 13G FIlings of Lam Research

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	8.64%	11,788,267	SC 13G/A
Feb 03, 2023	blackrock inc.	8.1%	11,026,970	SC 13G/A
Feb 10, 2022	vanguard group inc	8.17%	11,504,998	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 01, 2022	blackrock inc.	7.9%	11,100,869	SC 13G/A
Feb 12, 2021	ameriprise financial inc	3.67%	5,285,039	SC 13G/A
Feb 10, 2021	vanguard group inc	8.08%	11,640,096	SC 13G/A
Feb 08, 2021	fmr llc	-	0	SC 13G/A
Jan 29, 2021	blackrock inc.	7.8%	11,293,118	SC 13G/A
Feb 14, 2020	ameriprise financial inc	5.46%	7,927,471	SC 13G/A

LRCX Fair Value

Lam Research fair value in different scenarios

The table shows the Fair Value estimates for Lam Research for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	640.75 24.37%	868.48 68.57%	1431.80 177.92%	1981.87 284.69%	2334.85 353.20%
Current Inflation	587.57 14.05%	784.17 52.21%	1265.17 145.57%	1727.66 235.34%	2022.82 292.64%
Very High Inflation	521.83 1.29%	682.02 32.38%	1068.18 107.34%	1431.81 177.92%	1662.26 222.65%

Historical Lam Research Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Lam Research

View All Filings

Date Filed	Form Type	Document
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading

Latest Insider Trading transactions for LRCX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	Hahn Ava	sold	-1,567,480	488	-3,206	chief legal officer & svp
2023-03-02	Bettinger Douglas R	sold (taxes)	-1,513,550	489	-3,089	chief financial officer & evp
2023-03-02	Hahn Ava	sold (taxes)	-1,482,190	489	-3,025	chief legal officer & svp
2023-03-02	Hahn Ava	sold	-233,273	479	-487	chief legal officer & svp
2023-03-02	ARCHER TIMOTHY	sold (taxes)	-5,229,070	489	-10,672	president and ceo
2023-03-02	Corrreia Christina	sold (taxes)	-209,711	489	-428	cvp , chief accounting officer
2023-03-02	Varadarajan Seshasayee	sold (taxes)	-1,155,860	489	-2,359	senior vice president
2023-03-02	Vahedi Vahid	sold (taxes)	-1,183,300	489	-2,415	senior vice president
2023-03-02	Fernandes Neil J	sold (taxes)	-355,725	489	-726	senior vice president
2023-03-02	LORD PATRICK J	sold (taxes)	-1,375,860	489	-2,808	executive vice president

About Lam Research

Timothy M. Archer

www.lamresearch.com

14100

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.

LRCX Income Statement

2022-12-25

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 25, 2022	Dec. 26, 2021	Dec. 25, 2022	Dec. 26, 2021
Income Statement [Abstract]
Revenue	$ 5,277,569	$ 4,226,604	$ 10,351,690	$ 8,531,069
Cost of goods sold	2,901,220	2,248,688	5,638,506	4,576,399
Gross margin	2,376,349	1,977,916	4,713,184	3,954,670
Research and development	462,385	403,644	895,760	785,971
Selling, general, and administrative	233,802	236,133	439,422	458,327
Total operating expenses	696,187	639,777	1,335,182	1,244,298
Operating income	1,680,162	1,338,139	3,378,002	2,710,372
Other income (expense), net	(28,234)	17,999	(71,329)	(10,858)
Income before income taxes	1,651,928	1,356,138	3,306,673	2,699,514
Income tax expense	(183,421)	(161,308)	(412,287)	(324,940)
Net income	$ 1,468,507	$ 1,194,830	$ 2,894,386	$ 2,374,574
Net income per share:
Basic (in dollars per share)	$ 10.80	$ 8.50	$ 21.21	$ 16.82
Diluted (in dollars per share)	$ 10.77	$ 8.44	$ 21.16	$ 16.71
Number of shares used in per share calculations:
Basic (in shares)	136,018	140,630	136,455	141,187
Diluted (in shares)	136,339	141,530	136,774	142,071

LRCX Balance Sheet

2022-12-25

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Dec. 25, 2022

Jun. 26, 2022

^[1]

ASSETS

Cash and cash equivalents

$ 4,484,716

$ 3,522,001

Investments

103,130

135,731

Accounts receivable, less allowance of $5,411 as of December 25, 2022, and $5,606 as of June 26, 2022

4,070,088

4,313,818

Inventories

4,819,966

3,966,294

Prepaid expenses and other current assets

230,888

347,391

Total current assets

13,708,788

12,285,235

Property and equipment, net

1,863,155

1,647,587

Restricted cash and investments

251,344

251,534

Goodwill

1,620,437

1,515,113

Intangible assets, net

184,781

101,850

Other assets

1,577,876

1,394,313

Total assets

19,206,381

17,195,632

LIABILITIES AND STOCKHOLDERS’ EQUITY

Trade accounts payable

919,408

1,011,208

Accrued expenses and other current liabilities

2,068,370

1,974,272

Deferred profit

1,551,918

1,571,898

Current portion of long-term debt and finance lease obligations

7,226

7,381

Total current liabilities

4,546,922

4,564,759

Long-term debt and finance lease obligations, less current portion

4,996,057

4,998,449

Income taxes payable

862,405

931,117

Other long-term liabilities

496,362

422,941

Total liabilities

10,901,746

10,917,266

Commitments and contingencies

Stockholders’ equity:

Preferred stock, at par value of $0.001 per share; authorized, 5,000 shares, none outstanding

Common stock, at par value of $0.001 per share; authorized, 400,000 shares as of December 25, 2022 and June 26, 2022; issued and outstanding, 135,403 shares as of December 25, 2022, and 136,975 shares as of June 26, 2022

135

137

Additional paid-in capital

7,606,149

7,414,916

Treasury stock, at cost; 158,775 shares as of December 25, 2022, and 157,087 shares as of June 26, 2022

(20,071,931)

(19,481,429)

Accumulated other comprehensive loss

(108,871)

(109,982)

Retained earnings

20,879,153

18,454,724

Total stockholders’ equity

8,304,635

6,278,366

Total liabilities and stockholders’ equity

$ 19,206,381

$ 17,195,632

[1]	Derived from audited financial statements