LRCX
LAM RESEARCH CORPEvidence as of 2026-09-03Overview · LAM RESEARCH CORP
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal process…
Management team
- Ms. Mary Teresa Hassett · Senior VP & Chief Human Resources OfficerFind on LinkedIn
- Ms. Ava Harter · Senior VP & Chief Legal OfficerFind on LinkedIn
- Mr. Steve Fine · Corporate VP & Chief Communication OfficerFind on LinkedIn
- Mr. Vahid Vahedi Ph.D. · Senior VP and Chief Technology & Sustainability OfficerFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed (+ 0.2 of a possible + 2; confidence high). Revenue rose across the three most recent fiscal quarters: Q1 2026 (fiscal quarter ended 2025-10-22) $5,324,173,000; Q2 2026 (fiscal quarter ended 2026-01-27) $5,344,791,000; Q3 2026 (fiscal quarter ended 2026-04-21) $5,841,488,000, with quarter-to-quarter increases of ≈ $20.6 million (Q1→Q2) and ≈ $496.7 million (Q2→Q3). Gross profit and margins remained near the high-49% to low-50% range across those quarters, while operating income and net income moved higher into Q3 2026 and diluted EPS rose from $1.24 (Q1 2026) to $1.45 (Q3 2026).
Market signals are mixed. Momentum is strong on a 12-month basis (+ 231.5%, 97th percentile) but weak over three months (− 16.1%), and volatility is elevated (30-day annualized + 78.2%, volatility at the 97th percentile). Valuation multiples show high current implied expectations — P/E (TTM) 57.9, Price/FCF (TTM) 72.86 and an implied FCF growth rate priced at 44.02% — while the balance sheet shows reported cash $5,579,171,000 and long-term debt $3,722,061,000, implying net cash on those line items.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue for the three most recent fiscal quarters reported: fiscal Q1 2026 (period ended 2025-09-28) was $5,324,173,000; fiscal Q2 2026 (period ended 2025-12-28) was $5,344,791,000; fiscal Q3 2026 (period ended 2026-03-29) was $5,841,488,000, which shows quarter-to-quarter increases of ≈$20.6 million (Q1→Q2) and ≈$496.7 million (Q2→Q3).
XBRL companyfacts · 0000707549-25-000085Gross profit for the same quarters: fiscal Q1 2026 (period ended 2025-09-28) was $2,684,879,000; fiscal Q2 2026 (period ended 2025-12-28) was $2,651,162,000; fiscal Q3 2026 (period ended 2026-03-29) was $2,910,527,000, implying gross margins roughly ~50.4% (Q1), ~49.6% (Q2) and ~49.8% (Q3).
XBRL companyfacts · 0000707549-25-000085Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
An 8-K for the company was filed on 2026-08-27 (the 8-K filed 27 August 2026) and is present in the evidence set.
8-K filed 2026-08-27A Form 4 for the company was filed on 2026-09-01 (the 4 filed 1 September 2026) and is present in the evidence set.
4 filed 2026-09-01Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
The 12-1 momentum metric is +231.5% with a cross-sectional rank at the 97th percentile of a 547-stock universe as of 2026-09-02.
Moneyta signal set · 2026-09-02weakened in debateSix-month momentum is +29.4% and ranks in the 87th percentile of the 547-stock universe as of 2026-09-02.
Moneyta signal set · 2026-09-02weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02, LRCX is held in the IVV ETF with a weight of 0.84% of the fund.
ETF constituents · market dataA Form 4 insider filing for LRCX was filed on 2026-09-01 with the 4 filed 1 September 2026; the parse_status in the record is 'pending' and no primary_doc_url is present in the evidence.
Form 4 × 1 (90d window not enforced here)Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
A September 2, 2026 simplywall.st headline frames Lam Research as having strong AI-driven demand but suggests the stock may look overvalued after a multi‑year run.
News · simplywall.st · 2026-09-02A September 2, 2026 gurufocus headline presents Lam Research in the context of riding semiconductor industry growth.
News · gurufocus.com · 2026-09-02Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
On 31 August 2026 an officer sold 5,000 shares for a total reported value of $1.5M.
Form 4 · Harter Ava (Chief Legal Officer) · $1.5M sold · 2026-08-31The 31 August 2026 sale by the officer was executed under a stated 10b5-1 trading plan (the filing’s trading_plan field lists "10b5-1 plan (stated on the filing)").
Form 4 · Harter Ava (Chief Legal Officer) · $1.5M sold · 2026-08-31Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The implied free cash flow (FCF) growth rate that today's price would justify, under the stated discount and terminal assumptions, is 44.02%.
Valuation inputs · SEC XBRL + stored EOD closePrice-to-FCF (TTM) is 72.86 as of the price date 2026-09-02.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence set jointly supports a favorable read driven by sequential improvement in core operating results and cash strength. Revenue, operating income, net income, and diluted EPS all rose across the three most recent fiscal quarters (fundamentals-0, fundamentals-2, fundamentals-3), while weighted-average diluted share counts edged lower (fundamentals-4), supporting EPS leverage. The balance sheet shows a net cash position using reported cash and long-term debt (valuation-5) and meaningful trailing free cash flow (valuation-4), which bolster the fundamentals cited by multiple analyst buy ratings in the street consensus. Market signals show very strong long-term momentum (market-0, market-1) and a 50/200 moving-average golden-cross (market-5), and the officer sale disclosed was executed under a stated 10b5-1 plan (insider-1), which mitigates the interpretive weight of the sale (insider-0).
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.36
32 surviving claims rest on 14 distinct sources; the heaviest analyst carries 22% of them, and 95% of what the desk raised survived the debate.
The evidence set is moderately robust: 32 surviving claims draw on 14 distinct sources, so multiple document types underpin the read. However, one analyst accounts for a sizable share of claims and some recent filings are still unparsed, which raises concentration and information‑completeness risks that reduce how much weight the desk should place on claims relying on that analyst or on unparsed filing content.
Peer context · computed, not argued
12-1 momentum ranks 3rd of 10 in Semiconductor Equipment & Materials (as of 2026-09-02).
90-day volatility ranks 7th of 10 in Semiconductor Equipment & Materials (as of 2026-09-02).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
11 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.8 to the score
2 documents
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.2 to the score
2 holdings records
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.5 to the score
4 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 filing
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot−0.3 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on LRCX Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.