Lam Research Corporation (LRCX)

BofA Sees AI Driving the Next $1 Trillion in Semiconductor RevenueJune 26, 2026 11:44 AM
IH Market News Bank of America believes artificial intelligence will accelerate growth across the semiconductor industry, helping generate an additional $1 trillion in chip sales over the next five years and reshaping several key technology markets in the process. “The chip industry took ~50 years to generate its first $1Tn in sales,” analysts led by Vivek Arya wrote. “We expect AI to help add another $1Tn in just the next five years.” Five Major Themes Expected to Fuel Industry Expansion BofA identified five structural trends that it believes will drive the next phase of semiconductor growth. The first is the rapid expansion of AI-focused data centre infrastructure. The bank estimates the total addressable market for AI data centre systems could grow from approximately $273 billion in 2025 to $1.7 trillion by 2030. Memory remains another key growth engine, supported by long-term supply agreements and strong demand visibility. The third theme centres on semiconductor manufacturing equipment and reshoring initiatives, as rising chip complexity increases investment requirements across fabrication facilities. Analog semiconductors are also expected to benefit from growing power demands linked to AI workloads, while demand for next-generation CPUs designed to support agentic AI applications represents another major opportunity. BofA estimates the server CPU market tied to agentic AI could eventually represent a $170 billion opportunity across x86 and ARM-based architectures. Industry Forecast Raised to $2.7 Trillion by 2030 Reflecting these trends, the bank increased its forecast for total semiconductor industry revenue to $2.7 trillion by 2030, up from a previous estimate of $2.3 trillion. The revised outlook implies a compound annual growth rate of approximately 28% from 2025 levels. Among all semiconductor categories, memory is expected to deliver the strongest growth, with BofA forecasting nearly 300% year-over-year expansion in 2026. Equipment Spending Forecasts Move Higher The bank also substantially increased its projections for wafer fabrication equipment spending. BofA now expects industry spending on wafer fab equipment to reach $250 billion by 2028, compared with its previous forecast of $203 billion. By 2030, annual spending could climb to approximately $292 billion. The increase reflects expectations for continued investment in advanced manufacturing capacity needed to support AI-driven demand. Micron Leads a Series of Higher Price Targets Alongside its updated industry outlook, BofA revised several semiconductor stock price targets upward. The largest increase was for Micron (NASDAQ:MU), where the target rose to $1,500 from $950. The bank cited strong demand for high-bandwidth memory and supply constraints that could persist through 2028. Applied Materials (NASDAQ:AMAT) saw its target increased to $720 from $540, while Lam Research (NASDAQ:LRCX) was lifted to $480 from $330 and KLA Corporation (NASDAQ:KLAC) to $317 from $210. Marvell (NASDAQ:MRVL) received a new target of $365, up from $240, supported by growing demand for AI connectivity solutions. Meanwhile, Intel (NASDAQ:INTC) saw its target raised to $160 from $135 as the bank highlighted opportunities in server processors and foundry services. Credo Technology (NASDAQ:CRDO) also received a higher target, increasing to $340 from $252. One Notable Exception Despite the broadly positive outlook, BofA maintained a more cautious stance on Axcelis Technologies (NASDAQ:ACLS). Although the bank raised its target price to $156 from $130, it retained an Underperform rating, arguing that the stock already reflects much of the potential upside associated with its planned merger with Veeco. Micron Technology stock price Applied Materials stock price Lam Research Corp stock price KLA Corporation stock price Marvell Technology stock price Intel stock price Credo Technology Group Holding stock price Axcelis Technologies stock price The post BofA Sees AI Driving the Next $1 Trillion in Semiconductor Revenue appeared first on US Editors. Original: BofA Sees AI Driving the Next $1 Trillion in Semiconductor Revenue

Semiconductor Stocks Climb in Premarket Trade Following Intel Manufacturing MilestoneJune 17, 2026 8:46 AM
IH Market News Chipmakers moved higher in premarket trading on Wednesday, with Intel (NASDAQ:INTC) leading the sector after announcing a significant advancement in its next-generation manufacturing technology. The gains helped reverse some of the weakness seen across semiconductor stocks during Tuesday’s session, lifting sentiment across the broader industry. Intel Leads Sector Higher Intel shares rose roughly 4% before the opening bell after the company revealed that its advanced 18A-P manufacturing process has entered the risk production phase, an important stage ahead of large-scale commercial manufacturing. The positive update also boosted other semiconductor names. Marvell Technology (NASDAQ:MRVL) gained 2.8%, Lam Research (NASDAQ:LRCX) advanced 2.9%, and Micron Technology (NASDAQ:MU) climbed 3.5% in premarket trading. New Manufacturing Process Delivers Efficiency Gains According to Intel, the 18A-P node provides a 9% increase in performance compared with the original 18A process while operating at the same power level. Alternatively, the company said the technology can reduce power consumption by 18% while maintaining equivalent processing performance. Intel also highlighted improvements in thermal efficiency and design flexibility, which are intended to support the development of increasingly complex semiconductor products. Compatibility Designed to Accelerate Adoption A key feature of the 18A-P process is its compatibility with the existing 18A ecosystem. Because both technologies use the same design rules, customers can reuse existing intellectual property and development workflows without the need for major redesign efforts. This approach is expected to simplify migration to the new node and reduce development costs for chipmakers. AI Demand Continues to Support Growth The manufacturing update comes as demand for processors used in artificial intelligence infrastructure continues to accelerate. Companies investing heavily in AI computing capacity are driving increased demand for advanced chips, providing additional support for Intel’s manufacturing ambitions and foundry strategy. The announcement reinforces confidence that the company remains on track with its long-term technology roadmap. Strategic Partnerships Expand Industry Reach Earlier this month, Intel unveiled a series of collaborations with major industry partners, including Foxconn, Siemens, Hitachi, Echo Neurotechnologies and Greenstone Biosciences. The partnerships are focused on developing integrated customer solutions built around Intel processors and specialized silicon platforms tailored to specific industry applications. Through these alliances, Intel aims to strengthen its presence across a range of markets while capitalizing on growing demand for AI-enabled computing solutions. Intel stock price Marvell Technology stock price Lam Research Corp stock price Micron Technology stock priceThe post Semiconductor Stocks Climb in Premarket Trade Following Intel Manufacturing Milestone appeared first on US Editors. Original: Semiconductor Stocks Climb in Premarket Trade Following Intel Manufacturing Milestone

Lam Research Corporation Declares Quarterly DividendMay 21, 2026 4:05 PM
PR Newswire (US) FREMONT, Calif., May 21, 2026 /PRNewswire/ -- Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors has approved a quarterly dividend of $0.26 per share of common stock. The dividend payment will be made on July 8, 2026, to holders of record on June 17, 2026. Future dividend payments are subject to review and approval by the Board of Directors.About Lam Research:Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)Caution Regarding Forward-Looking Statements:Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to, our plans to make dividend payments, declare dividends, or grow dividend amounts. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our most recent annual report on Form 10-K or subsequent quarterly report on Form 10-Q. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this press release.Company Contacts:
Ram Ganesh
Investor Relations
(510) 572-1615
Email: investor.relations@lamresearch.com  View original content to download multimedia:https://www.prnewswire.com/news-releases/lam-research-corporation-declares-quarterly-dividend-302779518.htmlSOURCE Lam Research Corporation Original: Lam Research Corporation Declares Quarterly Dividend

Lam Research Corporation Announces Participation at Upcoming ConferencesMay 13, 2026 4:05 PM
PR Newswire (US) FREMONT, Calif., May 13, 2026 /PRNewswire/ -- Lam Research Corporation (Nasdaq: LRCX) today announced that Tim Archer, President and Chief Executive Officer, and Doug Bettinger, Executive Vice President and Chief Financial Officer, will participate in the following upcoming investor conferences:Tim Archer: Bernstein Strategic Decisions Conference on May 27, 2026, at 7:00 a.m. Pacific Time (10:00 a.m. Eastern Time)Doug Bettinger: Bank of America Global Technology Conference on June 2, 2026, at 9:20 a.m. Pacific Time (12:20 p.m. Eastern Time)Live audio webcasts of these presentations will be available to the public and can be accessed from the Investors section of Lam's website at www.lamresearch.com. A replay of the audio webcasts will be available for two weeks following the respective presentation dates.About Lam ResearchLam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com.IR Contact:Ram Ganesh
Investor Relations
(510) 572-1615
investor.relations@lamresearch.comSource: Lam Research Corporation (Nasdaq: LRCX)  View original content to download multimedia:https://www.prnewswire.com/news-releases/lam-research-corporation-announces-participation-at-upcoming-conferences-302770490.htmlSOURCE Lam Research Corporation Original: Lam Research Corporation Announces Participation at Upcoming Conferences

Lam Research Corporation Reports Financial Results for the Quarter Ended March 29, 2026April 22, 2026 4:05 PM
PR Newswire (US)

FREMONT, Calif., April 22, 2026 /PRNewswire/ -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended March 29, 2026 (the "March 2026 quarter").Highlights for the March 2026 quarter were as follows:Revenue of $5.84 billion.U.S. GAAP gross margin as a percent of revenue of 49.8%, U.S. GAAP operating margin as a percent of revenue of 35.0%, and U.S. GAAP diluted EPS of $1.45.Non-GAAP gross margin as a percent of revenue of 49.9%, non-GAAP operating margin as a percent of revenue of 35.0%, and non-GAAP diluted EPS of $1.47.Key Financial Data for the Quarters Ended March 29, 2026 and December 28, 2025 (in thousands, except per-share data, percentages, and basis points) 
U.S. GAAP

March 2026
December 2025
Change Q/QRevenue
$          5,841,488
$          5,344,791
+9 %Gross margin
49.8 %
49.6 %
+ 20 bpsOperating margin
35.0 %
33.9 %
+ 110 bpsDiluted EPS
$                   1.45
$                   1.26
+ 15 %






Non-GAAP

March 2026
December 2025
Change Q/QRevenue
$          5,841,488
$          5,344,791
+9 %Gross margin
49.9 %
49.7 %
+ 20 bpsOperating margin
35.0 %
34.3 %
+ 70 bpsDiluted EPS
$                   1.47
$                   1.27
+ 16 %U.S. GAAP Financial ResultsFor the March 2026 quarter, revenue was $5,841 million, gross margin was $2,911 million, or 49.8% of revenue, operating expenses were $864 million, operating margin was 35.0%, and net income was $1,825 million, or $1.45 per diluted share on a U.S. GAAP basis. This compares to revenue of $5,345 million, gross margin of $2,651 million, or 49.6% of revenue, operating expenses of $841 million, operating margin of 33.9%, and net income of $1,594 million, or $1.26 per diluted share, for the quarter ended December 28, 2025 (the "December 2025 quarter").Non-GAAP Financial ResultsFor the March 2026 quarter, non-GAAP gross margin was $2,913 million, or 49.9% of revenue, non-GAAP operating expenses were $866 million, non-GAAP operating margin was 35.0%, and non-GAAP net income was $1,851 million, or $1.47 per diluted share. This compares to non-GAAP gross margin of $2,658 million, or 49.7% of revenue, non-GAAP operating expenses of $827 million, non-GAAP operating margin of 34.3%, and non-GAAP net income of $1,598 million, or $1.27 per diluted share, for the December 2025 quarter."Lam delivered record revenue and EPS in the March quarter as AI-driven demand reshapes the semiconductor industry," said Tim Archer, Lam Research's President and Chief Executive Officer. "Our strategic investments and the velocity of our execution are generating strong momentum, enabling customers' AI roadmaps and driving Lam's outperformance during this critical phase of industry growth."Balance Sheet and Cash Flow ResultsCash, cash equivalents, and restricted cash balances decreased to $4.77 billion at the end of the March 2026 quarter compared to $6.20 billion at the end of the December 2025 quarter. The decrease was primarily the result of cash deployed for capital return activities, principal payment on debt instruments, and capital expenditures, partially offset by cash generated from operating activities during the quarter.Deferred revenue at the end of the March 2026 quarter decreased slightly to $2.22 billion compared to $2.25 billion as of the end of the December 2025 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $434 million as of March 29, 2026 and $226 million as of December 28, 2025.Revenue The geographic distribution of revenue during the March 2026 quarter is shown in the following table:RegionRevenueChina34 %Korea23 %Taiwan23 %Japan8 %United States6 %Southeast Asia                                                                                                                                                                     4 %Europe2 %The following table presents revenue disaggregated between systems and customer support-related revenue:
Three Months Ended
March 29,
2026
December 28,
2025
March 30,
2025
(In thousands)Systems revenue$         3,730,582
$         3,357,493
$         3,035,276Customer support-related revenue and other                                                2,110,906
1,987,298
1,684,899
$         5,841,488
$         5,344,791
$         4,720,175





Systems revenue includes sales of new leading-edge equipment in deposition, etch, and other wafer fabrication markets.Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.Outlook For the quarter ending June 28, 2026, Lam is providing the following guidance:
U.S. GAAP
Reconciling Items
Non-GAAP










Revenue$6.60 Billion+/-$400 Million
—
$6.60 Billion+/-$400 MillionGross margin 50.5 %+/-1 %
$  2.7Million
50.5 %+/-1 %Operating margin36.5 %+/-1 %
$  3.0Million
36.5 %+/-1 %Net income per diluted share               $1.65+/-$0.15
$  3.3Million
$1.65+/-$0.15Diluted share count1.255 Billion
—
1.255 BillionThe information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other items that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:Gross margin - amortization related to intangible assets acquired through business combinations, $2.7 million.Operating margin - amortization related to intangible assets acquired through business combinations, $3.0 million.Net income per diluted share - amortization related to intangible assets acquired though business combinations, $3.0 million; amortization of debt discounts, $0.5 million; and associated tax benefit for non-GAAP items ($0.2 million); totaling $3.3 million.Use of Non-GAAP Financial ResultsIn addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company's non-GAAP results for both the March 2026 and December 2025 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. In addition, the March 2026 quarter excludes expenses associated with workforce optimization activities and their associated income tax effect.Management uses non-GAAP gross margin, operating expense, operating income, operating margin, net income, and net income per diluted share to evaluate the Company's operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company's website at https://investor.lamresearch.com.Caution Regarding Forward-Looking StatementsStatements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating margin, net income per diluted share, and diluted share count; the extent to which our investments and rate of operational execution are enabling our customers, driving our performance and generating momentum; and customer and industry trends, including the role of AI as an industry driver. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs, export controls and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions, export controls or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our most recent annual report on Form 10-K or subsequent quarterly report on Form 10-Q. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)Consolidated Financial Tables Follow.LAM RESEARCH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data and percentages)(unaudited) 

Three Months Ended
Nine Months Ended
March 29,
2026
December 28,
2025
March 30,
2025
March 29,
2026
March 30,
2025Revenue$  5,841,488
$  5,344,791
$  4,720,175
$ 16,510,452
$ 13,264,198Cost of goods sold2,930,961
2,693,629
2,406,489
8,263,884
6,874,848Gross margin2,910,527
2,651,162
2,313,686
8,246,568
6,389,350Gross margin as a percent of revenue49.8 %
49.6 %
49.0 %
49.9 %
48.2 %Research and development583,200
573,305
525,904
1,732,951
1,516,209Selling, general and administrative280,311
267,654
226,023
827,310
713,301Total operating expenses863,511
840,959
751,927
2,560,261
2,229,510Operating income2,047,016
1,810,203
1,561,759
5,686,307
4,159,840Operating margin35.0 %
33.9 %
33.1 %
34.4 %
31.4 %Other income (expense), net(35,460)
26,410
(25,035)
21,024
19,308Income before income taxes2,011,556
1,836,613
1,536,724
5,707,331
4,179,148Income tax expense(186,096)
(242,619)
(206,057)
(719,217)
(541,019)Net income$  1,825,460
$  1,593,994
$  1,330,667
$  4,988,114
$ 3,638,129Net income per share:








Basic$           1.46
$           1.27
$           1.04
$           3.97
$          2.82Diluted$           1.45
$           1.26
$           1.03
$           3.95
$          2.81Number of shares used in per share calculations:








Basic1,249,728
1,254,856
1,283,779
1,256,343
1,290,041Diluted1,257,325
1,261,739
1,288,100
1,262,792
1,294,545Cash dividend declared per common share$           0.26
$           0.26
$           0.23
$           0.78
$          0.69









  LAM RESEARCH CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)

March 29,
2026
December 28,
2025
June 29,
2025
(unaudited)
(unaudited)
(1)ASSETS




Cash and cash equivalents$      4,750,936
$      6,180,440
$      6,390,659Accounts receivable, net4,132,890
3,491,987
3,378,071Inventories3,999,992
4,037,682
4,307,991Prepaid expenses and other current assets413,099
307,914
440,274Total current assets13,296,917
14,018,023
14,516,995Property and equipment, net2,853,614
2,710,989
2,428,744Goodwill and intangible assets1,882,017
1,864,037
1,808,685Other assets2,759,362
2,798,122
2,590,836Total assets$    20,791,910
$    21,391,171
$    21,345,260LIABILITIES AND STOCKHOLDERS' EQUITY




Current portion of long-term debt and finance lease obligations                                        $             4,095
$         754,006
$         754,311Other current liabilities5,238,303
5,459,147
5,814,114Total current liabilities5,242,398
6,213,153
6,568,425Long-term debt and finance lease obligations3,730,384
3,729,742
3,730,194Income taxes payable621,572
667,639
603,412Other long-term liabilities612,777
635,211
581,610Total liabilities10,207,131
11,245,745
11,483,641Stockholders' equity (2)10,584,779
10,145,426
9,861,619Total liabilities and stockholders' equity$    20,791,910
$    21,391,171
$    21,345,260





(1)Derived from audited financial statements.(2)Common shares issued and outstanding were 1,250,539 as of March 29, 2026, 1,251,180 as of December 28, 2025, and
1,268,740 as of June 29, 2025. LAM RESEARCH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands, unaudited)

Three Months Ended
Nine Months Ended
March 29,
2026
December 28,
2025
March 30,
2025
March 29,
2026
March 30,
2025CASH FLOWS FROM OPERATING ACTIVITIES:








Net income$      1,825,460
$      1,593,994
$      1,330,667
$      4,988,114
$      3,638,129Adjustments to reconcile net income to net cash provided by operating activities:








Depreciation and amortization116,322
103,925
97,343
321,891
287,838Deferred income taxes(19,478)
(30,957)
(19,992)
(113,310)
(211,568)Equity-based compensation expense96,616
88,539
87,115
282,396
249,085Other, net(2,855)
(19,961)
1,654
(24,706)
(7,395)Changes in operating assets and liabilities(874,645)
(255,495)
(188,124)
(1,053,956)
(337,013)Net cash provided by operating activities1,141,420
1,480,045
1,308,663
4,400,429
3,619,076CASH FLOWS FROM INVESTING ACTIVITIES:








Capital expenditures and intangible assets(331,604)
(260,879)
(288,058)
(777,604)
(586,995)Other, net(2,976)
3,096
(4,857)
(807)
8,154Net cash used for investing activities(334,580)
(257,783)
(292,915)
(778,411)
(578,841)CASH FLOWS FROM FINANCING ACTIVITIES:








Principal payments on debt, including finance lease obligations and payments for debt issuance costs(751,194)
(1,462)
(504,037)
(754,073)
(506,003)Treasury stock purchases, including excise tax payments(1,162,837)
(1,466,155)
(435,321)
(3,604,783)
(2,130,044)Dividends paid(325,829)
(327,507)
(295,716)
(945,317)
(854,335)Reissuance of treasury stock related to employee stock purchase plan—
67,185
—
67,185
60,557Proceeds from issuance of common stock, net issuance costs9,167
3,854
1,993
13,021
1,756Other, net55
(1,117)
526
(13,511)
963Net cash used for financing activities(2,230,638)
(1,725,202)
(1,232,555)
(5,237,478)
(3,427,106)Effect of exchange rate changes on cash, cash equivalents, and restricted cash(4,979)
(13,337)
2,380
(25,375)
(960)Net change in cash, cash equivalents, and restricted cash(1,428,777)
(516,277)
(214,427)
(1,640,835)
(387,831)Cash, cash equivalents, and restricted cash at beginning of period (1)6,195,598
6,711,875
5,677,399
6,407,656
5,850,803Cash, cash equivalents, and restricted cash at end of period (1)$      4,766,821
$      6,195,598
$      5,462,972
$      4,766,821
$      5,462,972









(1)Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets Non-GAAP Financial Summary(in thousands, except percentages and per share data) (unaudited)

Three Months Ended
March 29,
2026
December 28,
2025Revenue$     5,841,488
$     5,344,791Gross margin$     2,913,123
$     2,658,256Gross margin as a percent of revenue49.9 %
49.7 %Operating expenses$        866,166
$        827,486Operating income$     2,046,957
$     1,830,770Operating margin35.0 %
34.3 %Net income$     1,851,442
$     1,597,626Net income per diluted share$              1.47
$              1.27Shares used in per share calculation - diluted                                                                                                              1,257,325
1,261,739 Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income(in thousands, except per share data) (unaudited) 

Three Months Ended
March 29,
2026
December 28,
2025U.S. GAAP net income$       1,825,460
$       1,593,994Pre-tax non-GAAP items:


Amortization related to intangible assets acquired through certain business combinations - cost of goods sold     2,668
2,668Elective deferred compensation ("EDC") related liability valuation (decrease) increase - cost of goods sold(6,476)
4,426Workforce optimization charges - cost of goods sold6,404
—EDC related liability valuation (decrease) increase - research and development(11,656)
7,968Workforce optimization charges - research and development9,437
—Amortization related to intangible assets acquired through certain business combinations - selling, general and administrative348
193EDC related liability valuation (decrease) increase - selling, general and administrative(7,771)
5,312Workforce optimization charges - selling, general and administrative6,987
—Amortization of note discounts - other income (expense), net674
701Loss (gain) on EDC related asset - other income (expense), net27,265
(16,628)Net income tax benefit on non-GAAP items(1,898)
(1,008)Non-GAAP net income$       1,851,442
$       1,597,626Non-GAAP net income per diluted share$                1.47
$                1.27U.S. GAAP net income per diluted share$                1.45
$                1.26U.S. GAAP and non-GAAP number of shares used for per diluted share calculation1,257,325
1,261,739 Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin, Operating Expenses and Operating Income(in thousands, except percentages)(unaudited) 

Three Months Ended
March 29,
2026
December 28,
2025U.S. GAAP gross margin$     2,910,527
$     2,651,162Pre-tax non-GAAP items:


Amortization related to intangible assets acquired through certain business combinations                                   2,668
2,668EDC related liability valuation (decrease) increase(6,476)
4,426Workforce optimization charges6,404
—Non-GAAP gross margin$     2,913,123
$     2,658,256U.S. GAAP gross margin as a percent of revenue49.8 %
49.6 %Non-GAAP gross margin as a percent of revenue49.9 %
49.7 %U.S. GAAP operating expenses$        863,511
$        840,959Pre-tax non-GAAP items:


Amortization related to intangible assets acquired through certain business combinations(348)
(193)EDC related liability valuation decrease (increase)19,427
(13,280)Workforce optimization charges(16,424)
—Non-GAAP operating expenses$        866,166
$        827,486U.S. GAAP operating income$     2,047,016
$     1,810,203Non-GAAP operating income$     2,046,957
$     1,830,770U.S. GAAP operating margin35.0 %
33.9 %Non-GAAP operating margin35.0 %
34.3 %Lam Research Corporation Contacts:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com





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Original: Lam Research Corporation Reports Financial Results for the Quarter Ended March 29, 2026

Lam Research Corporation Announces March Quarter Financial Conference CallApril 1, 2026 4:05 PM
PR Newswire (US)

FREMONT, Calif., April 1, 2026 /PRNewswire/ -- Lam Research Corp. (NASDAQ: LRCX) today announced that the company will host its quarterly financial conference call and webcast on Wednesday, April 22, 2026, beginning at 2:00 p.m. Pacific Daylight Time (5:00 p.m. Eastern Daylight Time).Webcast:                 To access the webcast, visit the Investors section of Lam's website at http://www.lamresearch.com and click on the Investors/Investors Overview/Events & Presentations section to view the details.

Replay Information:      A webcast replay will be available on the Lam Research website approximately three hours after the conference call concludes.About Lam ResearchLam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com (LRCX).IR Contact:Ram Ganesh
Investor Relations
(510) 572-1615
investor.relations@lamresearch.comSource:  Lam Research Corporation (Nasdaq: LRCX)





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Original: Lam Research Corporation Announces March Quarter Financial Conference Call

Ethisphere Recognizes Lam Research as One of the World's Most Ethical Companies® for Fourth Consecutive YearMarch 18, 2026 6:03 AM
PR Newswire (US)

FREMONT, Calif., March 18, 2026 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX) today announced that it has been recognized as one of the 2026 World's Most Ethical Companies® by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. This is the fourth consecutive year that Lam has received the award, which honors organizations committed to business integrity through robust ethics, compliance, and governance programs."We are proud to again be recognized as one of the World's Most Ethical Companies by Ethisphere, an honor reflective of our long-standing commitment to operate with integrity," said Joan Drew, chief compliance officer at Lam Research. "As an industry leader, we believe we have a responsibility to do business the right way — from fostering a values-based culture that guides employee decision-making, to treating our customers and partners with mutual trust and respect, and positively impacting the communities in which we operate around the world."Lam is the only wafer fabrication equipment provider included on the 2026 World's Most Ethical Companies list, which recognized 138 organizations across 17 countries and 40 industries.Ethisphere determined this year's listing based on an assessment of over 240 criteria that demonstrate robust ethics and compliance, including: corporate governance; program structure and resourcing; written standards; training, awareness and communication; risk assessment and auditing; investigations, enforcement, discipline and incentives; measurement of ethical culture; third-party risk management; and environmental and social impact. The full list of honorees can be found at https://worldsmostethicalcompanies.com/honorees."Congratulations to Lam Research for achieving recognition as one of the World's Most Ethical Companies. As we mark the 20th class of honorees, this group continues to raise the bar for business integrity by embedding ethics into everyday decision-making and long-term strategy," said Erica Salmon Byrne, Ethisphere's Chief Strategy Officer and Executive Chair.This distinctive honor follows many industry and workplace awards and recognitions received by Lam, which together demonstrate the global semiconductor manufacturing equipment leader as a great place to work. To learn more about Lam's award-winning culture and commitment to Ethics and Compliance, visit www.lamresearch.com or Lam Research 2024 Global Impact Report.About Lam Research
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com.About Ethisphere
Ethisphere is the global leader in defining and advancing the standards of ethical business practices that strengthen corporate brands, build trust in the marketplace, and deliver business success. Companies turn ethics, compliance, and culture into a business advantage by leveraging Ethisphere's data-driven program & culture assessments featuring the latest guidance and the practices of hundreds of global organizations across the 8 pillars of an ethical culture, and 240+ ethics, compliance, social, and governance data points delivered through a proprietary software platform. Ethisphere also honors superior integrity programs through World's Most Ethical Companies® recognition, brings together a community of industry experts with the Business Ethics Leadership Alliance (BELA), and advances ethical business practices through the Global Ethics Summit, Ethisphere Magazine, and the Ethicast podcast. For more information, visit: https://ethisphere.com.Lam Research Company Contacts:
Laura Bakken
Media Relations
(510) 572-5029
publicrelations @schony20
investor.relations@lamresearch.comSource: Lam Research Corporation, (Nasdaq: LRCX)





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Original: Ethisphere Recognizes Lam Research as One of the World's Most Ethical Companies® for Fourth Consecutive Year

IBM and Lam Research Team Up to Advance Sub-1nm Chip TechnologyMarch 10, 2026 11:47 AM
IH Market News
IBM (NYSE:IBM) and Lam Research Corp. (NASDAQ:LRCX) have announced a five-year partnership focused on developing next-generation semiconductor processes and materials for logic scaling below the 1-nanometer threshold.The collaboration will concentrate on creating new materials, fabrication techniques and High NA EUV lithography processes aimed at advancing IBM’s long-term logic scaling roadmap. The joint effort will explore advanced etch and deposition technologies, complex device architectures and new patterning approaches for next-generation interconnects and semiconductor devices.IBM and Lam Research have worked together for more than a decade on semiconductor manufacturing innovations, contributing to major milestones including 7nm technology, nanosheet transistor architectures and EUV-based processes. IBM also introduced its 2nm node chip in 2021.“Lam has been a critical partner to IBM for over a decade, contributing to key breakthroughs in logic scaling and device architecture such as nanosheet and the world’s first 2nm node chip,” said Mukesh Khare, GM of IBM Semiconductors and VP of hybrid cloud at IBM Research.The research will take place at IBM’s facilities within the NY Creates Albany NanoTech Complex and will utilize Lam Research’s advanced semiconductor manufacturing tools. These include the company’s Aether dry resist technology, Kiyo and Akara etch platforms, and Striker and ALTUS Halo deposition systems.Engineers from both companies will work to design and validate manufacturing process flows for nanosheet and nanostack device structures as well as backside power delivery technologies.“As the industry enters a new era of 3D scaling, progress depends on rethinking how materials, processes, and lithography come together as a single, high-density system,” said Vahid Vahedi, chief technology and sustainability officer at Lam Research.IBM stock priceLam Research Corp stock price

Original: IBM and Lam Research Team Up to Advance Sub-1nm Chip Technology

Vertiv Holdings, Lumentum Holdings, Coherent, and EchoStar Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400, and S&P SmallCap 600March 6, 2026 6:39 PM
PR Newswire (US)

NEW YORK, March 6, 2026 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices:
NAPCO Security Technologies Inc. (NASD: NSSC) will replace Alexander & Baldwin Inc. (NYSE: ALEX) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, March 13. An investor group comprised of MW Group and funds affiliated with DivcoWest and Blackstone Real Estate is acquiring Alexander & Baldwin in a deal that is expected to close soon, pending final closing conditions.The following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 will take effect before the market opens on Monday, March 23, as part of the quarterly rebalance. The changes ensure that each index is more representative of its market–capitalization range. The companies being removed from the S&P SmallCap 600 are no longer representative of the small–cap market space.Following is a summary of the changes that will take place prior to the open of trading on the effective date:Effective
DateIndex Name       ActionCompany NameTickerGICS SectorMar 13, 2026S&P SmallCap 600AdditionNAPCO Security Technologies NSSC Information Technology Mar 13, 2026S&P SmallCap 600DeletionAlexander & Baldwin  ALEX Real EstateMar 23, 2026S&P 100AdditionMicron TechnologyMU Information Technology Mar 23, 2026S&P 100AdditionLam ResearchLRCX Information Technology Mar 23, 2026S&P 100AdditionApplied MaterialsAMAT Information Technology Mar 23, 2026S&P 100AdditionGE VernovaGEV Industrials Mar 23, 2026S&P 100DeletionPayPal HoldingsPYPL Financials Mar 23, 2026S&P 100DeletionAmerican Intl GroupAIG Financials Mar 23, 2026S&P 100DeletionMetlifeMET Financials Mar 23, 2026S&P 100DeletionTargetTGT Consumer Staples Mar 23, 2026S&P 500AdditionVertiv HoldingsVRTIndustrialsMar 23, 2026S&P 500AdditionLumentum Holdings LITEInformation TechnologyMar 23, 2026S&P 500AdditionCoherentCOHRInformation TechnologyMar 23, 2026S&P 500AdditionEchoStarSATSCommunication ServicesMar 23, 2026S&P 500DeletionMatch Group MTCHCommunication ServicesMar 23, 2026S&P 500DeletionMolina HealthcareMOHHealth CareMar 23, 2026S&P 500DeletionLamb Weston Holdings LWConsumer StaplesMar 23, 2026S&P 500DeletionPaycom Software PAYCIndustrialsMar 23, 2026S&P MidCap 400AdditionSolstice Advanced Materials SOLSMaterialsMar 23, 2026S&P MidCap 400AdditionSiTime SITMInformation TechnologyMar 23, 2026S&P MidCap 400AdditionMoog MOG.AIndustrialsMar 23, 2026S&P MidCap 400AdditionInterDigital IDCCInformation TechnologyMar 23, 2026S&P MidCap 400AdditionVicor VICRIndustrialsMar 23, 2026S&P MidCap 400AdditionCareTrust REIT CTREReal EstateMar 23, 2026S&P MidCap 400DeletionLumentum Holdings LITEInformation TechnologyMar 23, 2026S&P MidCap 400DeletionCoherent COHRInformation TechnologyMar 23, 2026S&P MidCap 400DeletionEchoStar SATSCommunication ServicesMar 23, 2026S&P MidCap 400DeletionZoomInfo Technologies GTMCommunication ServicesMar 23, 2026S&P MidCap 400DeletionASGN ASGNInformation TechnologyMar 23, 2026S&P MidCap 400DeletionKemper KMPRFinancialsMar 23, 2026S&P SmallCap 600AdditionMatch Group MTCHCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionMolina HealthcareMOHHealth CareMar 23, 2026S&P SmallCap 600AdditionLamb Weston Holdings LWConsumer StaplesMar 23, 2026S&P SmallCap 600AdditionPaycom Software PAYCIndustrialsMar 23, 2026S&P SmallCap 600AdditionVSE VSECIndustrialsMar 23, 2026S&P SmallCap 600AdditionArgan AGXIndustrialsMar 23, 2026S&P SmallCap 600AdditionRithm Capital RITMFinancialsMar 23, 2026S&P SmallCap 600AdditionLyft LYFTIndustrialsMar 23, 2026S&P SmallCap 600AdditionLaureate Education LAURConsumer DiscretionaryMar 23, 2026S&P SmallCap 600AdditionLife Time Group Holdings LTHConsumer DiscretionaryMar 23, 2026S&P SmallCap 600AdditionLife360 LIFInformation TechnologyMar 23, 2026S&P SmallCap 600AdditionSphere EntertainmentSPHRCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionZoomInfo Technologies GTMCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionASGNASGNInformation TechnologyMar 23, 2026S&P SmallCap 600AdditionKemper KMPRFinancialsMar 23, 2026S&P SmallCap 600DeletionSolstice Advanced Materials SOLSMaterialsMar 23, 2026S&P SmallCap 600DeletionSiTimeSITMInformation TechnologyMar 23, 2026S&P SmallCap 600DeletionMoog MOG.AIndustrialsMar 23, 2026S&P SmallCap 600DeletionInterDigital IDCCInformation TechnologyMar 23, 2026S&P SmallCap 600DeletionVicor CorpVICRIndustrialsMar 23, 2026S&P SmallCap 600DeletionCareTrust REIT CTREReal EstateMar 23, 2026S&P SmallCap 600DeletionDave & Buster's Entertainment PLAYConsumer DiscretionaryMar 23, 2026S&P SmallCap 600DeletionSunCoke Energy SXCMaterialsMar 23, 2026S&P SmallCap 600DeletionAH Realty Trust AHRTReal EstateMar 23, 2026S&P SmallCap 600DeletionSummit Hotel Properties INNReal EstateMar 23, 2026S&P SmallCap 600DeletionKKR Real Estate Finance Trust KREFFinancialsMar 23, 2026S&P SmallCap 600DeletionBloomin' Brands BLMNConsumer DiscretionaryMar 23, 2026S&P SmallCap 600DeletionMyriad Genetics MYGNHealth CareMar 23, 2026S&P SmallCap 600DeletionCars.com CARSCommunication ServicesMar 23, 2026S&P SmallCap 600DeletionANGI ANGICommunication ServicesABOUT S&P DOW JONES INDICESS&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.FOR MORE INFORMATION:S&P Dow Jones Indices
index_services@spglobal.comMedia Inquiries
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Original: Vertiv Holdings, Lumentum Holdings, Coherent, and EchoStar Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400, and S&P SmallCap 600

Lam Research Corporation Announces Participation at Upcoming ConferencesFebruary 17, 2026 4:05 PM
PR Newswire (US)

FREMONT, Calif., Feb. 17, 2026 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX) today announced that Doug Bettinger, Executive Vice President and Chief Financial Officer, will participate in the following upcoming investor events.Morgan Stanley TMT Conference March 3, 2026, at 9:15 a.m. Pacific Standard Time (12:15 p.m. Eastern Standard Time)Cantor Global Technology & Industrial Growth Conference March 11, 2026, at 7:40 a.m. Pacific Daylight Time (10:40 a.m. Eastern Daylight Time)Live audio webcast of these presentations will be available to the public and can be accessed from the Investors' section of Lam's website at www.lamresearch.com.  A replay of the audio webcasts will be available for two weeks after the presentation date.About Lam ResearchLam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com (LRCX).IR Contact:Ram Ganesh
Investor Relations
(510) 572-1615
investor.relations@lamresearch.comSource: Lam Research Corporation, (Nasdaq: LRCX) 





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Original: Lam Research Corporation Announces Participation at Upcoming Conferences

Lam Research Deepens Investment in Boise to Support Projected Growth in U.S. Semiconductor ManufacturingFebruary 17, 2026 3:45 PM
PR Newswire (US)

U.S. Senator Risch, Micron and Community Leaders Celebrate New Lam Office; Lam Builds on Three Decades in the 'City of Trees'BOISE, Idaho, Feb. 17, 2026 /PRNewswire/ -- In a ribbon-cutting ceremony today, Lam Research Corp. (NASDAQ: LRCX) commemorated the opening of its new office in Boise, Idaho, joined by U.S. Senator Jim Risch, representatives of Micron Technology, Inc. and other distinguished local government, community, and academic leaders. The new office will initially support approximately 150 Lam personnel from the greater Boise area focused on collaborative research, development and high-volume manufacturing of Micron's leading-edge memory technology, with room for future growth. "Lam's expansion in Idaho provides critical infrastructure near one of our largest customers and enables us to accelerate our operations in America's leading hub for world-class memory chip manufacturing," said Neil Fernandes, senior vice president of Global Customer Operations for Lam Research, who cut the ribbon at today's ceremony. "As we celebrate our new office, we also demonstrate our commitment to our talented employees, the City of Trees community, and Micron to drive breakthroughs to enable the next generation of advanced memory chips."Found in state-of-the-art fabs across the U.S. and around the globe, Lam's innovative manufacturing equipment and processes are used to create nearly every advanced chip in the world. Building on Lam's more than 30 years in Boise, the new 9,200 sq. ft. office is the company's latest U.S. expansion and part of a multi-year strategy to increase the company's operational and innovation velocity to support chipmakers enabling the artificial intelligence (AI) era.Among Lam's customers is Boise-headquartered Micron, who recently awarded Lam as Outstanding Front End Equipment Supplier of the Year in 2025."Micron's memory manufacturing operations in Boise—along with our planned expansions—are essential to strengthening America's technology leadership," said John Whitman, corporate vice president of central engineering and procurement at Micron. "The advanced deposition and etch tools from Lam Research installed in our state-of-the-art fabs allow us to produce high performance, high-capacity memory chips with extraordinary precision at the atomic scale. We are grateful for Lam's longstanding partnership and congratulate them on their new office. We look forward to continuing to grow together as we drive U.S. semiconductor manufacturing.""A strong supply of American-made semiconductors is critical to strengthening our economy and bolstering U.S. national security. Lam Research's new Boise office and fabrication equipment further solidify Idaho's strong leadership in semiconductor manufacturing. Continued investment in the Treasure Valley will not only support job creation but also benefit the Gem State's economy and cutting-edge work in technological advancement," said Senator Jim Risch. Craig Quarterman, district director for U.S. Congressman Mike Simpson, was also in attendance at the event. Additional speakers included Sandy Anderson of the Boise Metro Chamber of Commerce, Dr. Nancy Glenn, vice president of research and economic development at Boise State University, and Laura Honn, director of revenue and outreach for Women's and Children's Alliance, representing two of the many academic institutions, associations, and organizations with whom Lam works closely to foster future talent and support community resilience in Idaho.Lam's state-of-the-art manufacturing equipment brings together diverse disciplines such as plasma physics, materials science, advanced robotics, and artificial intelligence to create semiconductor fabrication solutions that deliver both nanoscale-level precision and excellent production economics. These solutions are used to create smaller, taller, higher performance chips for smartphones, automotive, AI and data centers. Lam also provides a growing portfolio of advanced services and solutions to lead the industry's transition to the autonomous fab of the future, including Semiverse® Solutions virtualization software, Equipment Intelligence® technology and Dextro™ collaborative robots.Additional Media Resources: Read the Lam blogFind related images in the Lam media centerAbout Lam Research 
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better-performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. Caution Regarding Forward-Looking Statements Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to, market, industry and industry segment expectations, and our investment and expansion plans. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 29, 2025 and quarterly report on Form 10-Q for the fiscal quarter ended December 28, 2025. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this press release.Company Contacts:Laura Bakken
Media Relations
(510) 572-9021
publicrelations @schony20
investor.relations@lamresearch.comSource: Lam Research Corporation, (Nasdaq: LRCX)










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Original: Lam Research Deepens Investment in Boise to Support Projected Growth in U.S. Semiconductor Manufacturing

Applied Materials slips before earnings as Lynx flags valuation risksFebruary 12, 2026 9:36 AM
IH Market News
Applied Materials (NASDAQ:AMAT) edged 1.14% lower in premarket trading after Lynx Equity Strategies struck a cautious tone ahead of the chip equipment maker’s upcoming earnings release.The brokerage warned that investor expectations may be running ahead of fundamentals as markets await the company’s latest results. Attention is focused on how Applied Materials will navigate the current semiconductor spending cycle.Lynx pointed in particular to the industry’s anticipated DRAM-led capital expenditure cycle. While increased memory investment could underpin some top-line growth, the firm questioned whether that would be enough to narrow the performance gap with peers.“Net/net we are cautious into print vs. the bullish expectations on the Street. Into a DRAM-heavy capex cycle, AMAT stock could make progress on an absolute basis as long as the revenue growth through the year is inline with WFE growth. However, in order for AMAT to close the performance gap with LRCX, a DRAM-heavy cycle alone is not going to help, in our view,” Lynx stated in their note.The commentary suggests that although higher memory-related spending may offer support, it may not be sufficient for Applied Materials to meaningfully outperform competitors such as Lam Research (NASDAQ:LRCX) in the near term.Applied Materials stock price

Original: Applied Materials slips before earnings as Lynx flags valuation risks

Lam Research Corporation Declares Quarterly DividendFebruary 5, 2026 4:05 PM
PR Newswire (US)

FREMONT, Calif., Feb. 5, 2026 /PRNewswire/ -- Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors has approved a quarterly dividend of $0.26 per share of common stock. The dividend payment will be made on April 8, 2026, to holders of record on March 4, 2026. Future dividend payments are subject to review and approval by the Board of Directors.About Lam Research:Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)Caution Regarding Forward-Looking Statements:Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to, our plans to make dividend payments, declare dividends, or grow dividend amounts. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 29, 2025 and quarterly report on Form 10-Q for the fiscal quarter ended December 28, 2025. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this press release.Company Contacts:
Ram Ganesh
Investor Relations
(510) 572-1615
Email: investor.relations@lamresearch.com





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Original: Lam Research Corporation Declares Quarterly Dividend

Lam Research Appoints Cadence CEO Anirudh Devgan to Board of DirectorsFebruary 3, 2026 4:05 PM
PR Newswire (US)

FREMONT, Calif., Feb. 3, 2026 /PRNewswire/ -- Lam Research Corp. (NASDAQ: LRCX) today announced that Dr. Anirudh Devgan has joined its board of directors. Dr. Devgan, who currently serves as president and chief executive officer (CEO) of Cadence Design Systems, Inc., brings to Lam deep semiconductor ecosystem and technology expertise.Since joining Cadence in 2012, Dr. Devgan has held senior leadership roles at the company, a market leader in computational software company, AI and digital twins. He has served as CEO and as a member of the board of directors of Cadence since 2021, and as president of the company since 2017, having previously held the positions of executive vice president and general manager of the Digital & Signoff and System Verification groups. Under his leadership, Cadence has been at the forefront of applying AI to engineering design while expanding beyond silicon into system analysis and computational life sciences. Prior to joining Cadence, Dr. Devgan served as corporate vice president and a member of the executive staff at Magma Design Automation and previously held management and technical roles at IBM.Dr. Devgan is widely regarded as a leading authority on electronic design automation (EDA). During his distinguished career, he successfully pioneered the application of massively parallel and distributed architectures to create several industry firsts. He also drove the first common compiler architecture for emulation and prototyping platforms.Dr. Devgan holds 27 U.S. patents, is an IEEE Fellow and a member of the National Academy of Engineering (NAE) and has been widely honored for his transformational impact on the industry. Dr. Devgan also serves on the boards of the Global Semiconductor Alliance and the Electronic System Design Alliance.Dr. Devgan received a earned a B.Tech. in electrical engineering from the Indian Institute of Technology, Delhi, and M.S. and Ph.D. degrees in electrical and computer engineering from Carnegie Mellon University."Anirudh is one of the industry's foremost authorities in EDA and virtualization, as well as an exceptional leader, with a proven ability to drive business growth into strategic new markets," said Abhijit Talwalkar, chair of the board at Lam Research. "We are pleased to welcome him to our board and look forward to benefiting from the breadth of his knowledge of the semiconductor ecosystem as Lam further increases the velocity of business operations and innovation to enable the AI era."About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com.Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: anticipated benefits to Lam from this appointment; and the pace of our business operations and innovation. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 29, 2025 and our quarterly report on Form 10-Q for the fiscal quarter ended December 28, 2025. You should not place undue reliance on forward-looking statements. Lam undertakes no obligation to update any forward-looking statements.Company Contacts Laura Bakken
Public Relations
(510) 572-9021
publicrelations @schony20
investor.relations@lamresearch.com










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Original: Lam Research Appoints Cadence CEO Anirudh Devgan to Board of Directors

Lam Research Announces Leadership Transitions to Increase Company Velocity for the AI eraFebruary 3, 2026 4:10 PM
PR Newswire (US)

FREMONT, Calif., Feb. 3, 2026 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX) today announced it is elevating the roles of two proven leaders as the company enters its next phase of growth. Effective March 6, 2026, Sesha Varadarajan will transition to the role of Chief Operating Officer (COO). The company further announced that Karthik Rammohan will assume an expanded role as Senior Vice President (SVP), Global Operations and Enterprise Solutions. Both will play an integral role in Lam's objectives to deliver even greater value to customers and drive Lam's future outperformance by bringing the operational velocity essential for an accelerating semiconductor demand environment.







Varadarajan will maintain oversight of Lam's global product portfolio, and add Lam's customer support business group, corporate strategy, and government affairs capabilities to his remit. This new role aligns Lam's global product and service development to innovate faster and deliver on strategic objectives. In his previous role as head of Lam's global product group, he has driven rapid product innovation to successfully capitalize on increasing deposition and etch intensity in recent technology inflections. As COO, he will build upon that experience to advance Lam's plans to further expand its served available market, increase its market share, and accelerate growth in its services business. Varadarajan succeeds Pat Lord, who will retire following a remarkable career of more than two decades with Lam and Novellus. Lord was instrumental in shaping the company's operational foundation and strengthening customer partnerships to support the extraordinary expansion of the semiconductor industry.Rammohan will maintain leadership of the company's global manufacturing and supply chain and assume oversight of critical enterprise solutions including information technology systems, quality and facilities. He brings deep expertise and a proven track record of results, having led the expansion of a diversified manufacturing network and a more flexible, resilient global supply chain. In his new role, Rammohan will bring the same rigor and execution excellence to accelerate the scaling of Lam's operational footprint and transformation during this next phase of rising demand."Pat's leadership has helped build the Lam we know today. We thank him for his many contributions and wish him well in his retirement," said Tim Archer, president and CEO of Lam Research. "With Sesha's and Karthik's newly expanded roles, we are increasing velocity across our operations from product innovation and manufacturing to installation and maintenance to drive Lam's outperformance in the AI era."About Lam Research
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com.Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: expectations for growth and demand; our ability to deliver value to our customers; our performance; our strategic direction; the pace of innovation; our ability to deliver on strategic objectives; our ability to expand our served available market, increase our market share, or accelerate growth in our services business; the flexibility and resilience of our supply chain; the speed of scaling of our operational footprint; and the velocity of our product strategy, manufacturing, installation and maintenance.. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 29, 2025 and our quarterly report on Form 10-Q for the fiscal quarter ended December 28, 2025. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this press release.Company Contacts:
Laura Bakken 
Media Relations
(510) 572-9021
publicrelations @schony20 
investor.relations@lamresearch.com 














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Original: Lam Research Announces Leadership Transitions to Increase Company Velocity for the AI era

Lam Research and CEA-Leti Expand Research and Development Collaboration to Advance Fabrication of Specialty TechnologiesFebruary 2, 2026 11:00 AM
PR Newswire (US)

New Multi-Year Agreement Will Focus on Accelerating Pathfinding of New Materials and Processes for the Manufacturing of More Energy-Efficient Specialty DevicesFREMONT, Calif. and GRENOBLE, France, Feb. 2, 2026 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX), a leader in semiconductor fabrication equipment and services and CEA-Leti, a research institute pioneering micro- and nanotechnologies, today announced a new multi-year agreement to advance the development of next-generation Specialty Technology devices, including micro-electromechanical systems (MEMS), 3D imaging and sensors, power management and radio frequency (RF) solutions, photonics (including MicroLED display applications), and optical interconnect technologies.Under the agreement, Lam and CEA-Leti will explore novel multi-elemental materials and pathfinding for future fabrication processes of higher-efficiency compound semiconductors. By working with CEA-Leti, Lam strives to more quickly identify and overcome critical materials and engineering challenges, and accelerate the optimization of new fabrication solutions for future generations of Specialty Technology devices for AI and high-performance computing."As we enter the AI era, the opportunities for Specialty Technology are immense. This agreement enables Lam to complement its industry-leading capabilities in etch and deposition with CEA-Leti's deep expertise in device characterization to fast-track the development of new, ground-breaking advancements and future generations of more energy-efficient and higher-performance Specialty Technology devices," said Vahid Vahedi, chief technology and sustainability officer at Lam Research."By rapidly characterizing how new materials behave in complex device structures, we can pinpoint critical integration challenges and provide Lam with actionable feedback," said Sébastian Dauvé, CEO of CEA-Leti. "This accelerates the transition from promising process innovation to validated functionality in new generations of Specialty Technology devices — and strengthens our ability to support our industrial partners with solutions ready for industrialization."Building on a long history of successful co-development projects, including recent work on pulsed plasma technologies, the new joint research with CEA-Leti will focus on exploring a range of new, novel materials and films for lower-power, high-performance specialty technology applications and devices. These are intended solutions for next-generation RF filters, electro-optic modulation, and quantum optics.Lam's innovative etch and deposition technologies, including the company's breakthrough pulsed laser deposition (PLD) system, Lam Prestis™, will be integral to the research. By accessing CEA-Leti's extensive materials analysis, surface science, and device characterization and measurement capabilities, Lam aspires to better understand the impact of process developments on materials properties and device performance."Specialty Technologies today are found in nearly every electronic device, and their performance and power efficiency will continue to be challenged as end applications grow. We look forward to working with CEA-Leti at the leading edge of materials science, process technology, and industry-specific applications," said David Haynes, vice president of Specialty Technologies at Lam Research. "The deployment of optical devices is an area of particular excitement, especially in the field of quantum optics, where, through our collaboration with CEA-Leti, we intend to accelerate innovation to deliver breakthroughs for the next generation of devices."About Lam Research
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com.About CEA-Leti
CEA-Leti, a technology research institute at CEA, is a global leader in miniaturization technologies enabling smart, energy-efficient and secure solutions for industry. Founded in 1967, CEA-Leti pioneers micro-& nanotechnologies, tailoring differentiating applicative solutions for global companies, SMEs and startups. CEA-Leti tackles critical challenges in healthcare, energy and digital migration. From sensors to data processing and computing solutions, CEA-Leti's multidisciplinary teams deliver solid expertise, leveraging world-class pre-industrialization facilities. With a staff of more than 2,000 talents, a portfolio of 3,200 patents, 11,000 sq. meters of cleanroom space and a clear IP policy, the institute is based in Grenoble (France) and has offices in San Francisco (United States), Brussels (Belgium), Tokyo (Japan), Seoul (South Korea) and Taipei (Taiwan). CEA-Leti has launched 80 startups and is a member of the Carnot Institutes network. Follow us on www.leti-cea.com and @CEA_Leti.Technological expertiseCEA has a key role in transferring scientific knowledge and innovation from research to industry. This high-level technological research is carried out in particular in electronic and integrated systems, from microscale to nanoscale. It has a wide range of industrial applications in the fields of transport, health, safety and telecommunications, contributing to the creation of high-quality and competitive products.For more information: www.cea.fr/english Caution Regarding Forward-Looking Statements:
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of Lam and CEA-Leti, and certain assumptions made by Lam and CEA-Leti, all of which are subject to change. Examples of such forward-looking statements include, but are not limited to, statements in this press release regarding (i) the collaboration between Lam and CEA-Leti, (ii) Lam's and CEA-Leti's expectations regarding the benefits of the agreement, (iii) industry trends and future technology requirements, and (iv) the capabilities of Lam's products and the two parties' technology. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: Lam and CEA-Leti may not receive the expected benefits of the collaboration agreement; business, economic, political and/or regulatory conditions in the industry and the overall economy may deteriorate or change; the actions of Lam's customers and competitors may be inconsistent with Lam's expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit Lam's ability to sell its products; as well as the other risks and uncertainties that are described in the documents filed or furnished by Lam with the Securities and Exchange Commission, including specifically the Risk Factors described in Lam's annual report on Form 10-K for the fiscal year ended June 29, 2025 and quarterly report on Form 10-Q for the quarter ended December 28, 2025. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. Lam and CEA-Leti undertake no obligation to update the information or statements made in this press release.Lam Research Contacts:Laura Bakken
Media Relations – U.S.
(510) 572-9021
publicrelations@lamresearch.com Nestor Zegarra Cavero
Media Relations – Austria
+43 676 82049569
nestor.zegarracavero @schony20
investor.relations@lamresearch.comCEA-Leti Contacts:Marion Levy
marion.levy@cea.fr Sarah-Lyle Dampoux (Agency)
sldampoux@mahoneylyle.com
+33 6 74 93 23 47





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Original: Lam Research and CEA-Leti Expand Research and Development Collaboration to Advance Fabrication of Specialty Technologies

Lam Research Corporation Reports Financial Results for the Quarter Ended December 28, 2025January 28, 2026 4:05 PM
PR Newswire (US)

FREMONT, Calif., Jan. 28, 2026 /PRNewswire/ -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended December 28, 2025 (the "December 2025 quarter").Highlights for the December 2025 quarter were as follows:Revenue of $5.34 billion.U.S. GAAP gross margin of 49.6%, U.S. GAAP operating income as a percentage of revenue of 33.9%, and U.S. GAAP diluted EPS of $1.26.Non-GAAP gross margin of 49.7%, non-GAAP operating income as a percentage of revenue of 34.3%, and non-GAAP diluted EPS of $1.27. Key Financial Data for the Quarters Ended December 28, 2025 and September 28, 2025 (in thousands, except per-share data, percentages, and basis points)
U.S. GAAP

December 2025
September 2025
Change Q/QRevenue
$                5,344,791
$                5,324,173
—Gross margin as percentage of revenue
49.6 %
50.4 %
- 80 bpsOperating income as percentage of revenue
33.9 %
34.4 %
- 50 bpsDiluted EPS
$                          1.26
$                          1.24
+ 2 %






Non-GAAP

December 2025
September 2025
Change Q/QRevenue
$                5,344,791
$                5,324,173
—Gross margin as percentage of revenue
49.7 %
50.6 %
- 90 bpsOperating income as percentage of revenue
34.3 %
35.0 %
- 70 bpsDiluted EPS
$                          1.27
$                          1.26
+ 1 %U.S. GAAP Financial ResultsFor the December 2025 quarter, revenue was $5,345 million, gross margin was $2,651 million, or 49.6% of revenue, operating expenses were $841 million, operating income was 33.9% of revenue, and net income was $1,594 million, or $1.26 per diluted share on a U.S. GAAP basis. This compares to revenue of $5,324 million, gross margin of $2,685 million, or 50.4% of revenue, operating expenses of $856 million, operating income of 34.4% of revenue, and net income of $1,569 million, or $1.24 per diluted share, for the quarter ended September 28, 2025 (the "September 2025 quarter").Non-GAAP Financial ResultsFor the December 2025 quarter, non-GAAP gross margin was $2,658 million, or 49.7% of revenue, non-GAAP operating expenses were $827 million, non-GAAP operating income was 34.3% of revenue, and non-GAAP net income was $1,598 million, or $1.27 per diluted share. This compares to non-GAAP gross margin of $2,694 million, or 50.6% of revenue, non-GAAP operating expenses of $832 million, non-GAAP operating income of 35.0% of revenue, and non-GAAP net income of $1,605 million, or $1.26 per diluted share, for the September 2025 quarter."Lam delivered another strong quarter to cap a record year," said Tim Archer, Lam Research's President and Chief Executive Officer. "Entering 2026, our expanding product and services portfolio is enabling the market's transition to smaller, more complex three-dimensional devices and packages. With AI accelerating, we are ramping execution velocity across the company to support our customers' growth and realize our vision for multi-year outperformance."Balance Sheet and Cash Flow ResultsCash, cash equivalents, and restricted cash balances decreased to $6.2 billion at the end of the December 2025 quarter compared to $6.7 billion at the end of the September 2025 quarter. The decrease was primarily the result of cash deployed for capital return activities and capital expenditures, partially offset by cash generated from operating activities during the quarter.Deferred revenue at the end of the December 2025 quarter decreased to $2.25 billion compared to $2.77 billion as of the end of the September 2025 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $226 million as of December 28, 2025 and $131 million as of September 28, 2025.Revenue The geographic distribution of revenue during the December 2025 quarter is shown in the following table:RegionRevenueChina35 %Taiwan20 %Korea20 %Japan10 %Southeast Asia8 %United States5 %Europe2 %The following table presents revenue disaggregated between systems and customer support-related revenue:
Three Months Ended
December 28,
2025
September 28,
2025
December 29,
2024
(In thousands)Systems revenue$              3,357,493
$              3,547,565
$              2,625,649Customer support-related revenue and other1,987,298
1,776,608
1,750,398
$              5,344,791
$              5,324,173
$              4,376,047





Systems revenue includes sales of new leading-edge equipment in deposition, etch, and other wafer fabrication markets.Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.Outlook For the quarter ending March 29, 2026, Lam is providing the following guidance:
U.S. GAAP
Reconciling
Items
Non-GAAP










Revenue$5.70 Billion+/-$300 Million
—
$5.70 Billion+/-$300 MillionGross margin as a percentage of revenue49.0 %+/-1 %
$   2.7Million
49.0 %+/-1 %Operating income as a percentage of revenue33.9 %+/-1 %
$   3.0Million
34.0 %+/-1 %Net income per diluted share$1.35+/-$0.10
$   3.5Million
$1.35+/-$0.10Diluted share count1.26 Billion
—
1.26 BillionThe information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other items that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:Gross margin as a percentage of revenue - amortization related to intangible assets acquired through business combinations, $2.7 million.Operating income as a percentage of revenue - amortization related to intangible assets acquired through business combinations, $3.0 million.Net income per diluted share - amortization related to intangible assets acquired though business combinations, $3.0 million; amortization of debt discounts, $0.7 million; and associated tax benefit for non-GAAP items ($0.2 million); totaling $3.5 million.Use of Non-GAAP Financial ResultsIn addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company's non-GAAP results for both the December 2025 and September 2025 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. In addition, the September 2025 quarter excludes the impairment of long-lived assets and its associated income tax effect as well as income tax expense from a change in tax law.Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company's operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company's website at https://investor.lamresearch.com.Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; the size of our product and services portfolio; the extent to which our products and services are enabling our customers; customer and industry trends, including the role of AI as an industry driver; our rate of operational execution; and our long-term performance objectives. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs, export controls and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions, export controls or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 29, 2025 and our quarterly report on Form 10-Q for the fiscal quarter ended September 28, 2025. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)Consolidated Financial Tables Follow. LAM RESEARCH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data and percentages)(unaudited)

Three Months Ended
Six Months Ended
December 28,
2025
September 28,
2025
December 29,
2024
December 28,
2025
December 29,
2024Revenue$   5,344,791
$   5,324,173
$   4,376,047
$ 10,668,964
$  8,544,023Cost of goods sold2,693,629
2,639,294
2,303,066
5,332,923
4,468,359Gross margin2,651,162
2,684,879
2,072,981
5,336,041
4,075,664Gross margin as a percent of revenue49.6 %
50.4 %
47.4 %
50.0 %
47.7 %Research and development573,305
576,446
494,947
1,149,751
990,305Selling, general and administrative267,654
279,345
244,150
546,999
487,278Total operating expenses840,959
855,791
739,097
1,696,750
1,477,583Operating income1,810,203
1,829,088
1,333,884
3,639,291
2,598,081Operating income as a percent of revenue33.9 %
34.4 %
30.5 %
34.1 %
30.4 %Other income (expense), net26,410
30,074
14,262
56,484
44,343Income before income taxes1,836,613
1,859,162
1,348,146
3,695,775
2,642,424Income tax expense(242,619)
(290,502)
(157,128)
(533,121)
(334,962)Net income$   1,593,994
$   1,568,660
$   1,191,018
$   3,162,654
$  2,307,462Net income per share:








Basic$             1.27
$             1.24
$             0.93
$             2.51
$            1.78Diluted$             1.26
$             1.24
$             0.92
$             2.50
$            1.78Number of shares used in per share calculations:








Basic1,254,856
1,264,446
1,287,109
1,259,651
1,293,173Diluted1,261,739
1,269,313
1,291,469
1,265,526
1,297,767Cash dividend declared per common share$             0.26
$             0.26
$             0.23
$             0.52
$            0.46









 LAM RESEARCH CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)

December 28,
2025
September 28,
2025
June 29,
2025
(unaudited)
(unaudited)
(1)ASSETS




Cash and cash equivalents$         6,180,440
$         6,693,046
$         6,390,659Accounts receivable, net3,491,987
3,633,034
3,378,071Inventories4,037,682
4,095,054
4,307,991Prepaid expenses and other current assets307,914
385,580
440,274Total current assets14,018,023
14,806,714
14,516,995Property and equipment, net2,710,989
2,510,531
2,428,744Goodwill and intangible assets1,864,037
1,826,950
1,808,685Other assets2,798,122
2,756,016
2,590,836Total assets$       21,391,171
$       21,900,211
$       21,345,260LIABILITIES AND STOCKHOLDERS' EQUITY




Current portion of long-term debt and finance lease obligations$            754,006
$            754,363
$            754,311Other current liabilities5,459,147
5,953,547
5,814,114Total current liabilities6,213,153
6,707,910
6,568,425Long-term debt and finance lease obligations3,729,742
3,729,580
3,730,194Income taxes payable667,639
646,044
603,412Other long-term liabilities635,211
623,925
581,610Total liabilities11,245,745
11,707,459
11,483,641Stockholders' equity (2)10,145,426
10,192,752
9,861,619Total liabilities and stockholders' equity$       21,391,171
$       21,900,211
$       21,345,260







(1)Derived from audited financial statements.(2)Common shares issued and outstanding were 1,251,180 as of December 28, 2025, 1,259,176 as of September 28, 2025, and 1,268,740 as of June 29, 2025. LAM RESEARCH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands, unaudited)

Three Months Ended
Six Months Ended
December 28,
2025
September 28,
2025
December 29,
2024
December 28,
2025
December 29,
2024CASH FLOWS FROM OPERATING ACTIVITIES:








Net income$         1,593,994
$         1,568,660
$         1,191,018
$         3,162,654
$         2,307,462Adjustments to reconcile net income to net cash provided by operating activities:








Depreciation and amortization103,925
101,644
96,200
205,569
190,495Deferred income taxes(30,957)
(62,875)
(82,854)
(93,832)
(191,576)Equity-based compensation expense88,539
97,241
81,959
185,780
161,970Other, net(19,961)
(1,890)
(8,592)
(21,851)
(9,049)Changes in operating assets and liabilities(255,495)
76,184
(535,789)
(179,311)
(148,889)Net cash provided by operating activities1,480,045
1,778,964
741,942
3,259,009
2,310,413CASH FLOWS FROM INVESTING ACTIVITIES:








Capital expenditures and intangible assets(260,879)
(185,121)
(188,349)
(446,000)
(298,937)Other, net3,096
(927)
12,974
2,169
13,011Net cash used for investing activities(257,783)
(186,048)
(175,375)
(443,831)
(285,926)CASH FLOWS FROM FINANCING ACTIVITIES:








Principal payments on debt, including finance lease obligations and payments for debt issuance costs(1,462)
(1,417)
(1,032)
(2,879)
(1,966)Treasury stock purchases, including excise tax payments(1,466,155)
(975,791)
(697,688)
(2,441,946)
(1,694,723)Dividends paid(327,507)
(291,981)
(297,634)
(619,488)
(558,619)Reissuance of treasury stock related to employee stock purchase plan67,185
—
60,557
67,185
60,557Proceeds from issuance of common stock, net issuance costs3,854
—
(194)
3,854
(237)Other, net(1,117)
(12,449)
761
(13,566)
437Net cash used for financing activities(1,725,202)
(1,281,638)
(935,230)
(3,006,840)
(2,194,551)Effect of exchange rate changes on cash, cash equivalents, and restricted cash(13,337)
(7,059)
(26,022)
(20,396)
(3,340)Net change in cash, cash equivalents, and restricted cash(516,277)
304,219
(394,685)
(212,058)
(173,404)Cash, cash equivalents, and restricted cash at beginning of period (1)6,711,875
6,407,656
6,072,084
6,407,656
5,850,803Cash, cash equivalents, and restricted cash at end of period (1)$         6,195,598
$         6,711,875
$         5,677,399
$         6,195,598
$         5,677,399











(1)Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets Non-GAAP Financial Summary(in thousands, except percentages and per share data) (unaudited)

Three Months Ended
December 28,
2025
September 28,
2025Revenue$        5,344,791
$        5,324,173Gross margin$        2,658,256
$        2,693,582Gross margin as percentage of revenue49.7 %
50.6 %Operating expenses$           827,486
$           831,916Operating income$        1,830,770
$        1,861,666Operating income as a percentage of revenue34.3 %
35.0 %Net income$        1,597,626
$        1,604,597Net income per diluted share$                 1.27
$                 1.26Shares used in per share calculation - diluted1,261,739
1,269,313 Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income(in thousands, except per share data) (unaudited)

Three Months Ended
December 28,
2025
September 28,
2025U.S. GAAP net income$           1,593,994
$           1,568,660Pre-tax non-GAAP items:


Amortization related to intangible assets acquired through certain business combinations - cost of goods sold2,668
2,687Elective deferred compensation ("EDC") related liability valuation increase - cost of goods sold4,426
6,016EDC related liability valuation increase - research and development7,968
10,828Amortization related to intangible assets acquired through certain business combinations - selling, general and administrative193
538EDC related liability valuation increase - selling, general and administrative5,312
7,219Impairment of long-lived assets - selling, general and administrative—
5,290Amortization of note discounts - other income (expense), net701
695Gain on EDC related asset - other income (expense), net(16,628)
(23,088)Net income tax benefit on non-GAAP items(1,008)
(1,698)Income tax expense from a change in tax law—
27,450Non-GAAP net income$           1,597,626
$           1,604,597Non-GAAP net income per diluted share$                    1.27
$                    1.26U.S. GAAP net income per diluted share$                    1.26
$                    1.24U.S. GAAP and non-GAAP number of shares used for per diluted share calculation1,261,739
1,269,313 Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin,
Operating Expenses and Operating Income(in thousands, except percentages)(unaudited) 

Three Months Ended
December 28,
2025
September 28,
2025U.S. GAAP gross margin$        2,651,162
$        2,684,879Pre-tax non-GAAP items:


Amortization related to intangible assets acquired through certain business combinations2,668
2,687EDC related liability valuation increase4,426
6,016Non-GAAP gross margin$        2,658,256
$        2,693,582U.S. GAAP gross margin as a percentage of revenue49.6 %
50.4 %Non-GAAP gross margin as a percentage of revenue49.7 %
50.6 %U.S. GAAP operating expenses$           840,959
$           855,791Pre-tax non-GAAP items:


Amortization related to intangible assets acquired through certain business combinations(193)
(538)EDC related liability valuation increase(13,280)
(18,047)Impairment of long-lived assets—
(5,290)Non-GAAP operating expenses$           827,486
$           831,916U.S. GAAP operating income$        1,810,203
$        1,829,088Non-GAAP operating income$        1,830,770
$        1,861,666U.S. GAAP operating income as percent of revenue 33.9 %
34.4 %Non-GAAP operating income as a percent of revenue34.3 %
35.0 %Lam Research Corporation Contacts:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com 





View original content to download multimedia:https://www.prnewswire.com/news-releases/lam-research-corporation-reports-financial-results-for-the-quarter-ended-december-28-2025-302673080.htmlSOURCE Lam Research Corporation

Original: Lam Research Corporation Reports Financial Results for the Quarter Ended December 28, 2025

A lot of the promised efficiency improvements haven’t shown up in real economic data yet. When expectations run ahead of measurable results, bubbles form. $LRCX

LRCX, new 52/week high

LRCX one year chart

Why Sell-Rated Lam Research (LRCX) Could Be Primed for a Comeback
Josh Enomoto - Barchart - Sat May 3, 9:15AM CDT Columnist
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Black-white bull vs bear_Image by a1vector via Shutterstock
Black-white bull vs bear_Image by a1vector via Shutterstock
A global supplier of innovative wafer fabrication equipment and services to the semiconductor industry, Lam Research (LRCX) plays an underappreciated but critical role for the broader technology ecosystem. While LRCX stock has fared better than many other innovators on a year-to-date basis, it has struggled over the past 52 weeks, down 18%. Making matters worse, its technical performance rates as a 64% Sell.

Fortunately, there may be better times ahead.

Read Next: Markets are crashing from tariffs—Mode Mobile is still growing (32,481%). Pre-IPO shares at $0.30!
Can’t Get Enough Options?: Join the list for Barchart’s daily unusual options report, delivered free.
Over the last 10 weeks, the bulls and bears have been locked in a fierce competition, with the pessimists taking the edge by printing a “5-5” sequence: five weeks of upside interspersed with five weeks of downside, with an overall negative trajectory across the time period.

What’s significant about this rather mundane pattern in any other security is the underlying sentiment. Whenever this sequence flashes, the following week’s long-side success ratio pops to 61.9%. Not only that, for the past one-year period, there were five 10-week sequences with a net negative trajectory, which is quite rare.

Typically, bearish-dominant streaks (either in terms of down-week volume or net trajectory) see a relatively quick counterresponse by the bulls. That didn’t happen over the past year, raising the prospects of pent-up demand.

Indeed, we’re seeing early evidence of a sentiment shift, with LRCX stock gaining over 5% in the trailing week and swinging up over 14% in the past month. Based on demand sequences, though, Lam Research could just be getting started.


Assuming the positive pathway materializes (the one with the nearly 62% chance of occurring), LRCX stock could potentially be trading around $77 at the close of May 9. By the end of May, it’s possible, though hardly guaranteed, that the equity will land at about $79.47. These numbers stem from historical trends tied to LRCX’s responses to the aforementioned 5-5 sequence.

Using the Market’s Current to Expertly Navigate LRCX Stock
With the derivatives arena representing a market within a market, forecasting future prices is never a straightforward task. Because investors must contend with non-linearity and an open system, this framework means that random events can enter the paradigm and destroy a well-crafted thesis in a nanosecond.

That’s the randomness of Wall Street that no one can escape. Fortunately, a Barchart Premier subscription can help even the odds.

One key feature with which to familiarize yourself is Barchart’s Gamma Exposure screen. By the book, gamma exposure measures the change in delta exposure for options based on changes in the underlying price. The easier way to understand gamma is that it’s essentially the option market’s current — some setups will either accelerate or drag your trade as the underlying share price moves.

As a quick summary, low gamma exposure represents a stable backdrop, with delta (or your position’s direction and speed) changing slowly. Movements are less amplified, with price action demonstrating a more natural cadence.


On the other hand, high gamma exposure is the equivalent of strong currents. Here, small movements in the share price can cause big shifts in dealer hedging. This dynamic creates a feedback loop, forcing additional hedging behaviors that push prices toward a particular trajectory. If you happen to be on the right side of this feedback loop, your position can gain value rapidly.

In the case of LRCX stock and specifically the options chain expiring May 30, gamma exposure varies across the strike prices. Up to the $75 strike price, the current is relatively calm. Between $75 and $80, though, gamma buildup is elevated. Should LRCX break into this range, the subsequent hedging behavior could potentially provide a major tailwind.

Putting It All Together
As stated earlier, LRCX stock has been printing bearishly dominated trading sequences, which is unusual given its track record. I anticipate a relatively brisk rise to above the $79 level over the next four weeks. As such, I’m intrigued by the 76/79 bull call spread expiring May 30.

This transaction involves buying the $76 call and simultaneously selling the $79 call, for a net debit paid of $139. Should LRCX stock rise through the short strike price of $79 at expiration, the maximum reward clocks in at $161, a payout of nearly 116%.

Here’s where circumstances get intriguing. Up until $75, gamma exposure is relatively light. However, above this price point to $80, the stronger currents could force a feedback loop, thus accelerating LRCX stock. Given the high-probability nature of this trading setup, Lam Research should be on your watchlist throughout this month.


On the date of publication, Josh Enomoto did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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~bought 2/7 $90 calls @.11c ahead of earnings today 

$LRCX Earnings Call Recap for Q1 2025

~bought 10/25 $85 calls before close @.09c

LRCX 10Q due Oct 23

Will this respond the same as SMCI after the stock split? At the moment, not looking too good.

From Barchart
https://www.barchart.com/story/news/28662839/3-semiconductor-stocks-to-buy-on-the-dip

LRCX new 52 week high

LRCX 10Q due 4/24

LRCX new 52 week high

LRCX new 52=week high

LRCX new 52=week high

LRCX new 52 week high

LRCX new 52 week high

LRCX new 52 week high

LRCX new 52 week high

LRCX new 52 week high

LRCX new 52 week high

Any inputs on $LRCX $670 call expires on 06/23/2023?

I'd get ETFs in industrials such as XLI, materials such as XLB, homebuilders such as XHB, water such as PHO, or FIW.
Check out etfdb.com for ETF research.

Earnings come out on Wednesday April 21st.

$LRCX | #LamResearch Trade

Possible long above $310 local resistance.
Upside target $335 to local resistance

As stated by a financial commentator

"Morningstar has one of the most comprehensive assessments I’ve seen, incorporating historical data from past epidemics. It reads more like an article from a healthcare journal than a financial media site. Their conclusion: global GDP could take a 5.0% hit at worst this year, or a mild 0.10% ding at best.

The median and most likely scenario calls for a negative GDP impact of 1.25%.

When you’re talking about trillions in lost economic activity, every basis point counts. But a 1% to 2% deceleration in GDP is nothing we haven’t seen before. More importantly, Morningstar rates the long-term impact as negligible.

The Bright Side...
This disease will leave some scars behind. But after it has run its course, most quality companies will make a full recovery. Our economy is nothing if not resilient."
…...…….
This would particularly pertain to LRCX.

We are back to your price, a great entry point. A great stock.

Lam Research reached $344 one month ago

Now we are at $194, but that is just temporary and due to the coronavirus shutting down the company's facilities:

https://stockhouse.com/news/press-releases/2020/03/17/lam-research-corporation-provides-business-update-for-the-fiscal-quarter-ending

The coronavirus may run its course faster than most people expect. It has already peaked, and is receding, in the countries that were first effected. Plus now the combination hydroxychloroquine—a drug used to treat malaria, and azithromycin—an antibiotic that is known to be effective against complications from bacterial lung disease, has been shown to be very effective against the effects brought on by the coronavirus.

It may take 6 to 9 months for LRCX to to get back to its regular production schedule, but after that its price should start a sustained rise and eventually pass its recent high.

$LRCX No need to stress out yet, it is still a cheap stock

It is quite surprising that today was not more of a massacre for the chip/semi sector , bargain hunters stepped in just after the open to buy up what the algos were selling and weak hands were selling. It really was not much of a surprise that AVGO had a negative outlook, what did anyone expect? Apple , Huawei and Trump is all that needs to be considered, until one or all of those factors change chips and semis will suffer. It's a matter of sticking with the better names with a reasonable p/e ratio , it must be also remembered to block out the opinions of those in the media who actually don't trade and make a living from sensationalism.
From a technical perspective we have listed on the chart the areas to watch and the supports that are currently holding.

LRCX invest 147.90























normal chart




log chart

Lam Research (LRCX) Gets Crushed After Analyst Issues Cautious View, Watch This Level

This morning, leading semiconductor equipment maker, Lam Research (NASDAQ:LRCX) is getting hammered to the downside after an analyst issued a cautious view on shipments. The stock is trading lower by $11.82 to $187.79 a share. At this point in time, LRCX stock is testing its important 50-week moving average. This moving average has been very important for LCRX stock. The last three times the 50-week moving average has been tested it has held as major support. Should this key support level fail, then traders must look down to the $174.00 area for institutional sponsorship in LRCX stock. This level was where LRCX broke out in February 2018. Some other important stocks that are declining in sympathy to LRCX today include, Applied Materials Inc (AMAT:NASDAQ), and KLA-Tencor Corp (KLAC:NASDAQ).



Nicholas Santiago
InTheMoneyStocks

LRCX trading signals alerted traders and investors in mid-May of today's current downward trend. The Q2 and Q3 shipment decrease as well as the general volatility of the stock price added up with this one. Hope everyone caught that one and moved into the sell zone before today. #BluSignals

https://www.blusignalsystems.com/lrcx-trading-signals-send-alert-volatile-trend/

LRCX 30 D W