Lam Research Corp
LRCX
$218.44
-1.61%
Lam Research Corp is a leading manufacturer of semiconductor wafer fabrication equipment, specializing in deposition and etch processes. It holds the top market share in etch and a clear second share in deposition, serving major chipmakers like TSMC, Samsung, Intel, and Micron.
LRCX
Lam Research Corp
$218.44
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LRCX 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Lam Research Corp's 12-month outlook, with a consensus price target around $283.97 and implied upside of +30.0% versus the current price.
Average Target
$283.97
10 analysts
Implied Upside
+30.0%
vs. current price
Analyst Count
10
covering this stock
Price Range
$175 - $284
Analyst target range
Wall Street analyst coverage for Lam Research is active, with recent ratings from ten major firms. The consensus is bullish, with firms like Needham, UBS, RBC Capital, Susquehanna, Goldman Sachs, Stifel, and Wells Fargo maintaining Buy, Outperform, Positive, or Overweight ratings. Barclays and Morgan Stanley have maintained Equal Weight ratings. Analysts' revenue estimates for the period average approximately $33.45 billion, with a high estimate of $35.38 billion and a low of $29.16 billion. The average EPS estimate is $8.74.
LRCX Technical Analysis
The stock has exhibited strong overall performance over the past six months, with a gain of 45.36% as of the data period ending March 31, 2026. It has significantly outperformed the broader market, as indicated by a relative strength of 48.18 over six months. However, the stock has faced recent pressure, declining 8.65% over the past month, which still outperformed the S&P 500's 5.25% drop over the same period.
Short-term performance shows volatility, with a 24.82% gain over three months but a pullback in the most recent month. The price action from the provided data shows a peak near $249 in late February 2026, followed by a decline to around $200 in early March, and a recovery to $213.66 by the period's end. The stock's 3-month relative strength of 29.45 indicates it has significantly outpaced the market's 4.63% decline.
The current price of $213.66 sits approximately 16.8% below its 52-week high of $256.68 and is substantially above its 52-week low of $56.32. This places the stock in the upper portion of its yearly range despite the recent correction. No RSI data was provided for a current momentum assessment.
Beta
1.79
1.79x market volatility
Max Drawdown
-27.3%
Largest decline past year
52-Week Range
$56-$257
Price range past year
Annual Return
+196.1%
Cumulative gain past year
| Period | LRCX Return | S&P 500 |
|---|---|---|
| 1m | +0.5% | -3.6% |
| 3m | +18.0% | -4.0% |
| 6m | +49.8% | -2.0% |
| 1y | +196.1% | +16.2% |
| ytd | +18.0% | -3.8% |
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LRCX Fundamental Analysis
Revenue and profitability remain robust. The latest quarterly revenue (Q2 FY2026) was $5.34 billion, representing a 22.14% year-over-year growth. Net income for the quarter was $1.59 billion, translating to a healthy net margin of 29.82%. The operating margin was 33.87%, and the gross margin was 49.60%, indicating strong pricing power and cost management.
Financial health is solid. The company maintains a strong current ratio of 2.21 and a manageable debt-to-equity ratio of 0.48. Free cash flow over the trailing twelve months is a substantial $6.66 billion, providing ample liquidity for investments, dividends, and share repurchases, as evidenced in the cash flow statements.
Operational efficiency is excellent. Return on Equity (ROE) is a very high 54.33%, and Return on Assets (ROA) is 21.05%, demonstrating effective use of shareholder capital and company assets. The high ROE is supported by strong profitability and moderate financial leverage.
Quarterly Revenue
$5.3B
2025-12
Revenue YoY Growth
+0.22%
YoY Comparison
Gross Margin
+0.49%
Latest Quarter
Free Cash Flow
$6.7B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is LRCX Overvalued?
Given the company's substantial positive net income, the primary valuation metric is the Price-to-Earnings (P/E) ratio. The trailing P/E ratio is 23.36, while the forward P/E is 30.95 based on estimated earnings. The Price-to-Sales (P/S) ratio is 6.79, and the Enterprise Value-to-EBITDA (EV/EBITDA) is 19.47. The PEG ratio of 0.54, based on trailing metrics, suggests the stock may be undervalued relative to its earnings growth rate.
Peer comparison data for industry averages was not provided in the valuation inputs. Therefore, a relative assessment against sector benchmarks cannot be made. The valuation appears to reflect high growth expectations, particularly given the company's exposure to the AI-driven semiconductor equipment expansion cycle.
PE
23.4x
Latest Quarter
vs. Historical
Mid-Range
5-Year PE Range 9x~35x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
19.5x
Enterprise Value Multiple