Added to YB: 2026-08-05
Pitch date: 2026-08-03
LRCX [neutral]
Lam Research Corporation
+2.89%
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
$368.6B
Pitch Price
$308.83
Price Target
450.00 (+53%)
Dividend
0.35%
EV/EBITDA
42.45
P/E
51.15
EV/Sales
15.79
Sector
Semiconductors and Semiconductor Equipment
Category
growth
Lam Research Q4 FY2026: The Physics Arrived Early
LRCX (earnings): Q4 GM 52% (20yr high), NAND doubled to 23% of systems, CSBG $2.47B (+43% YoY). Sept guide $8.1B, $970M above consensus, 39.5% op margin. China fell to 26% yet margins record—old bear case falsified. SAM 36.5% of WFE. Systems missed $177M, DSO rose 64→72 days, FCF 56% of NI. New bear: structural complexity thesis real but spending cyclical; FY27 fab overbuild risk. PT $450 (analysts $350-450 at $298). Revision cycle tailwind 60-90 days as FY27 consensus $31.1B/$8.20 EPS too low.
Read full article (6 min)