Added to YB: 2026-01-30
Pitch date: 2026-01-28
LRCX [bullish]
Lam Research Corporation
-3.35%
current return
Author Info
No bio for this author
Company Info
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe.
Market Cap
$299.8B
Pitch Price
$245.61
Price Target
380.00 (+60%)
Dividend
0.43%
EV/EBITDA
39.64
P/E
49.27
EV/Sales
14.50
Sector
Semiconductors and Semiconductor Equipment
Category
growth
Lam Research: The Atomic Toll Booth
LRCX: Advanced nodes need 30-40% more process steps, centered on Lam's conductor etch dominance (80%+ share). TSMC/Samsung committed $120B+ capex 2026, locking demand through 2028. China headwind offset by higher-intensity tools. 48-49% gross margins sustainable vs historical 45-47%. Base case $240-280 target on 12-14% revenue growth to $33-36B by FY29 (bull case is $380), trading at 28-32x vs infrastructure premium warranted.
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