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LRCX $971.57

LRCX target price
971.57
122
567
Lam Research Corporation
Type
Public
Traded as NASDAQ: LRCX
NASDAQ-100 Component
S&P 500 Component
Industry Semiconductor equipment
Founded 1980; 37 years ago (1980)
Founder David K. Lam
Headquarters Fremont, California, United States
Key people
Martin Anstice, CEO and President
Stephen G. Newberry, Chairman of the Board
Products Semiconductor manufacturing products
Revenue
  • Increase US$ 5,259.312 million (2015)
  • Increase US$ 4,607.309 million (2014)
Operating income
  • Increase US$ 788.039 million (2015)
  • Increase US$ 677.669 million (2014)
Net income
  • Increase US$ 655.577 million (2015)
  • Increase US$ 582.755 million (2014)
Total assets
  • Increase US$ 9,364.648 million (2015)
  • Increase US$ 7,993.306 million (2014)
Total equity
  • Increase US$ 5,103.144 million (2015)
  • Increase US$ 5,029.735 million (2014)
Number of employees
9,100 (2017)
Website www.lamresearch.com

Lam Research Corporation is an American corporation that engages in the design, manufacture, marketing, and service of semiconductor processing equipment used in the fabrication of integrated circuits. Its products are used primarily in front-end wafer processing, which involves the steps that create the active components of semiconductor devices (transistors, capacitors) and their wiring (interconnects). The company also builds equipment for back-end wafer-level packaging (WLP), and for related manufacturing markets such as for microelectromechanical systems (MEMS).

Lam Research was founded in 1980 by Dr. David K. Lam and is headquartered in Fremont, California, in the Silicon Valley.

Lam Research was founded in 1980 by David K. Lam, a Chinese-born engineer who had previously worked at Xerox, Hewlett-Packard and Texas Instruments. It was while he was at Hewlett Packard that he saw the need for better plasma etching equipment, to keep up with the rapid miniaturization of semiconductor wafers. He credited Bob Noyce, founder of Intel, for assisting him in getting funding by ensuring his business plan made sense.

In 1981, the company introduced its first product, the AutoEtch 480, an automated polysilicon plasma etcher. The name AutoEtch was chosen to convey that the etcher was automated, while the 80 in 480 came from 1980, the year the company was founded. The first system was sold in January 1982. In 1982, Roger Emerick was appointed CEO.

In May 1984, the company issued an IPO and was listed on NASDAQ, with the symbol LRCX. In 1985, David Lam left the company to join Link Technologies, which eventually was bought by Wyse and is now Dell Wyse. In the mid-1980s, Lam Research continued its global expansion, concentrating on Taiwan and also opening customer support centers throughout Europe, the United States and Japan.

By the early 1990s, the company had a presence in China, Korea, Singapore, and Taiwan. In March 1997, the company purchased OnTrak Systems Inc., a chip equipment manufacturer that specialized in chemical-mechanical planarization (CMP) cleaning, for $225 Million. CMP cleaning is a hybrid process to smooth surfaces using both etching and mechanical polishing. In August 1997, the company named OnTrak's CEO Jim Bagley as its CEO. In 1998, Bagley was named chairman of the board.

In 2005, Steve Newberry was appointed as CEO. In 2006, Lam Research acquired Bullen Semiconductor, now Silfex, Inc. In 2008, Lam Research acquired SEZ AG, now Lam Research AG. In 2011, Lam Research agreed to buy San Jose, California chip equipment manufacturer Novellus Systems, for $3.3B. The deal was completed in June 2012. In 2012, Martin Anstice was appointed as CEO. In October 2015, Lam Research announced plans to buy Milpitas, California-based wafer inspection equipment vendor KLA-Tencor for $10.6B, in what was viewed as a semiconductor industry consolidation move. In June 2016, it was announced that Lam Research had joined the Fortune 500 for the first time. In October 2016, the company announced it had terminated its offer for KLA-Tencor amidst concerns that the deal would not meet regulatory approval from the U.S. Department of Justice over antitrust concerns.

Lam Research designs and builds products for semiconductor manufacturing, including equipment for thin film deposition, plasma etch, photoresist strip, and wafer cleaning processes. Repeated throughout semiconductor manufacturing, these technologies help create transistors, interconnects, advanced memory, and packaging structures. They are also used for applications in related markets like microelectromechanical systems (MEMS) and light-emitting diodes (LEDs).

Lam's thin film deposition systems lay down the sub-microscopic layers of conducting (metal) or insulating (dielectric) materials that make up an integrated circuit. The processes require uniformity at the nanoscale level.

The company employs electrochemical deposition (ECD) and chemical vapor deposition (CVD) technologies to form copper and other metal films for conducting structures. Atomic layer deposition (ALD) is also used for tungsten metal films in features like contacts and plugs, which are vertical connections between metal lines in multilevel interconnect chip designs.

Plasma-enhanced (PE) CVD and ALD technologies create dielectric films for a wide range of insulating parts. For gapfill processes, which require depositing dielectric material into narrow spaces, Lam uses high-density plasma (HDP) CVD technology. PECVD and ALD are also used to form hardmasks, layers which can be removed to improve circuit patterning processes.

Lam Research uses proprietary technology in its equipment for plasma etch, the process of selectively removing materials from the surface of a wafer in order to create the semiconductor device's features and patterns. The equipment helps chip manufacturers carve small features such as those needed for the latest multiple patterning sequences, transistors, and advanced memory structures, which involve increasingly complex film stacks and ever higher aspect ratio structures.

The company uses reactive ion etch (RIE) and atomic layer etching (ALE) to shape a variety of conductive and dielectric features. The company’s deep RIE technologies help create structures for applications like MEMS and through-silicon vias (TSVs).

Lam’s dry strip systems use plasma technology to selectively remove the photoresist mask following a range of front-end wafer processing and advanced packaging applications.

Lam Research's wet spin clean and plasma-based bevel clean products remove particles, residues, and films from the wafer surface before or after adjacent processes.

The company’s spin wet clean technology is used between chip-processing steps to remove yield-limiting residues and defects. Lam’s bevel clean technology directs a plasma at the very edge of the wafer to clean unwanted particles, residues, and films. If not removed, these materials can impact yield if they flake off and re-deposit on the device area during subsequent manufacturing steps.

The company markets its products and services primarily to companies involved in the production of semiconductors in the United States, Europe and Asia.

Lam has manufacturing facilities in the United States, Austria, and Korea and sales and services offices throughout the United States, Europe, and Asia.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2023 2023-04-19 Future report Set alerts
Q2 2023 2023-01-25 10.71 10.71
Q1 2023 2022-10-19 10.42 10.42
Q4 2022 2022-07-27 8.83 8.83
Q3 2022 2022-04-20 7.40 7.40
Q2 2022 2022-01-26 8.53 8.53
Q1 2022 2021-10-20 8.36 8.36
Q4 2021 2021-07-28 8.09 8.09
Q3 2021 2021-04-21 7.49 7.49
Q2 2021 2021-01-27 6.03 6.03

Ratings

2016-07-12 Reiterated Rating Cowen and Company Outperform $85.00
2016-06-25 Reiterated Rating Needham & Company LLC Buy
2016-06-23 Boost Price Target Nomura Buy $85.00 to $95.00
2016-06-23 Boost Price Target Nomura Holdings Inc. Buy $85.00 to $95.00
2016-05-23 Reiterated Rating B. Riley Buy $96.00
2016-05-18 Reiterated Rating B. Riley Buy $96.00
2016-05-16 Lower Price Target Cowen and Company Outperform $93.00 to $85.00
2016-04-26 Reiterated Rating B. Riley Buy $96.00
2016-04-21 Reiterated Rating Deutsche Bank Buy $95.00
2016-04-21 Boost Price Target Cowen and Company Outperform $90.00 to $93.00
2016-04-21 Reiterated Rating B. Riley Buy $90.00 to $96.00
2016-04-21 Reiterated Rating Deutsche Bank AG Buy $95.00
2016-04-18 Reiterated Rating Needham & Company LLC Buy $88.00 to $95.00
2016-03-29 Boost Price Target Susquehanna $76.00 to $80.00
2016-03-27 Reiterated Rating Deutsche Bank Buy
2016-03-16 Initiated Coverage RBC Capital Outperform $92.00
2016-03-16 Initiated Coverage Royal Bank Of Canada Outperform $92.00
2016-01-30 Reiterated Rating B. Riley Buy $90.00
2016-01-28 Reiterated Rating Deutsche Bank Buy $95.00
2016-01-25 Reiterated Rating B. Riley Buy $98.00
2016-01-19 Reiterated Rating Stifel Nicolaus Buy
2015-12-15 Initiated Coverage Morgan Stanley Overweight $95.00
2015-12-10 Boost Price Target Cowen and Company Outperform $85.00 to $90.00
2015-12-08 Reiterated Rating Bank of America Buy $100.00
2015-12-08 Reiterated Rating Bank of America Corp. Buy $100.00
2015-10-27 Reiterated Rating B. Riley Buy $98.00
2015-10-23 Downgrade Citigroup Inc. Buy $97.00 to $91.00
2015-10-22 Reiterated Rating Deutsche Bank Buy $95.00 to $85.00
2015-10-22 Boost Price Target RBC Capital Underperform $52.00 to $56.00
2015-10-22 Reiterated Rating B. Riley Buy $101.00 to $98.00
2015-10-21 Boost Price Target Cowen and Company $85.00
2015-10-19 Lower Price Target Cowen and Company Outperform $85.00 to $80.00
2015-10-13 Lower Price Target JPMorgan Chase & Co. $95.00 to $88.00
2015-10-12 Reiterated Rating Deutsche Bank Buy $85.00
2015-10-09 Lower Price Target Needham & Company LLC Buy $95.00 to $88.00
2015-10-08 Lower Price Target Pacific Crest $98.00 to $91.00
2015-10-06 Reiterated Rating Piper Jaffray Buy $94.00
2015-10-06 Reiterated Rating Piper Jaffray Cos. Buy $94.00
2015-10-05 Downgrade RBC Capital Sector Perform to Underperform $76.00 to $52.00
2015-09-29 Lower Price Target Nomura Buy $90.00 to $80.00
2015-09-28 Reiterated Rating Goldman Sachs Buy $100.00
2015-09-28 Lower Price Target Cowen and Company $98.00 to $85.00
2015-09-28 Reiterated Rating Goldman Sachs Group Inc. Buy $100.00
2015-09-21 Lower Price Target Susquehanna Neutral $84.00 to $76.00
2015-09-17 Reiterated Rating Pacific Crest Buy $100.00 to $98.00
2015-07-31 Reiterated Rating RBC Capital Outperform $76.00
2015-07-31 Reiterated Rating Piper Jaffray Overweight $94.00
2015-07-30 Reiterated Rating Pacific Crest Overweight to Outperform $100.00
2015-07-30 Reiterated Rating B. Riley Buy $101.00
2015-07-29 Reiterated Rating Deutsche Bank Buy $100.00
2015-07-28 Reiterated Rating Citigroup Inc. Top Pick $100.00 to $97.00
2015-07-17 Reiterated Rating Summit Research Buy
2015-07-16 Reiterated Rating Piper Jaffray Overweight $94.00
2015-07-15 Reiterated Rating Deutsche Bank Buy $100.00
2015-07-14 Reiterated Rating Cowen and Company Buy $98.00
2015-07-10 Boost Price Target Susquehanna Neutral $75.00 to $81.00
2015-07-02 Reiterated Rating Cowen and Company Buy
2015-07-01 Boost Price Target Cowen and Company Outperform $93.00 to $98.00
2015-06-17 Reiterated Rating Credit Suisse Outperform $105.00
2015-06-17 Reiterated Rating Credit Suisse Group AG Outperform $105.00
2015-05-28 Reiterated Rating Goldman Sachs Buy
2015-05-11 Reiterated Rating Deutsche Bank Buy $100.00
2015-05-10 Reiterated Rating JPMorgan Chase & Co. Overweight
2015-04-21 Reiterated Rating Deutsche Bank Buy $95.00 to $100.00
2015-04-21 Boost Price Target Credit Suisse Outperform $102.00 to $105.00
2015-04-21 Boost Price Target JPMorgan Chase & Co. Overweight $88.00 to $95.00
2015-04-21 Boost Price Target Needham & Company LLC $93.00 to $95.00
2015-04-21 Lower Price Target RBC Capital Sector Perform $82.00 to $76.00
2015-04-21 Boost Price Target Cowen and Company Outperform $88.00 to $93.00
2015-04-21 Reiterated Rating B. Riley Buy $101.00
2015-04-14 Lower Price Target KeyBanc Overweight $103.00 to $100.00
2015-04-14 Lower Price Target KeyCorp Overweight $103.00 to $100.00
2015-03-20 Lower Price Target Needham & Company LLC Buy $95.00 to $93.00
2015-01-29 Boost Price Target JPMorgan Chase & Co. Overweight $84.00 to $88.00
2015-01-29 Boost Price Target Needham & Company LLC $95.00
2015-01-29 Boost Price Target Jefferies Group Buy $83.00 to $93.00
2015-01-29 Lower Price Target Credit Suisse Outperform $104.00 to $102.00
2015-01-29 Boost Price Target Pacific Crest Outperform $84.00 to $103.00
2015-01-29 Boost Price Target Cowen and Company Top Pick to Outperform $85.00 to $88.00
2015-01-29 Boost Price Target RBC Capital Sector Perform $72.00 to $82.00
2015-01-29 Reiterated Rating B. Riley Buy $95.00
2015-01-26 Boost Price Target DA Davidson Buy $90.00 to $100.00
2015-01-20 Reiterated Rating Credit Suisse Outperform $85.00 to $104.00
2015-01-09 Boost Price Target Needham & Company LLC Buy $84.00 to $93.00
2014-12-19 Reiterated Rating B. Riley Buy $95.00
2014-12-18 Upgrade Citigroup Inc. Neutral to Buy $100.00
2014-12-12 Reiterated Rating B. Riley Buy $95.00
2014-12-09 Boost Price Target Stifel Nicolaus Buy $84.00 to $93.00
2014-12-08 Reiterated Rating Deutsche Bank Buy $95.00 to $81.00
2014-12-08 Boost Price Target Bank of America Buy $80.00 to $92.00
2014-11-28 Initiated Coverage Berenberg Bank Buy $95.00
2014-10-23 Reiterated Rating Jefferies Group Buy $80.00 to $83.00
2014-10-23 Reiterated Rating JPMorgan Chase & Co. Overweight $80.00 to $84.00
2014-10-13 Boost Price Target Goldman Sachs Buy to Conviction-Buy $78.00 to $85.00
2014-07-31 Reiterated Rating Citigroup Inc. Neutral $70.00 to $74.00
2014-07-31 Boost Price Target Stifel Nicolaus Buy $81.00 to $84.00
2014-07-31 Boost Price Target Susquehanna $56.00 to $60.00
2014-07-31 Reiterated Rating Jefferies Group Buy $84.00 to $80.00
2014-07-31 Boost Price Target JPMorgan Chase & Co. Overweight $70.00 to $80.00
2014-07-31 Boost Price Target RBC Capital $62.00 to $70.00
2014-07-11 Reiterated Rating Jefferies Group Buy $75.00 to $84.00
2014-07-10 Boost Price Target DA Davidson Buy $80.00 to $90.00
2014-07-09 Initiated Coverage Piper Jaffray Overweight
2014-07-09 Reiterated Rating Stifel Nicolaus Buy $67.00 to $80.00
2014-07-09 Boost Price Target Nomura Buy $70.00 to $75.00
2014-07-08 Reiterated Rating Cowen and Company Outperform
2014-06-30 Reiterated Stifel Buy $69 to $81
2014-06-30 Boost Price Target Stifel Nicolaus Buy $69.00 to $81.00
2014-06-27 Reiterated Needham Buy $67 to $82
2014-06-27 Boost Price Target Needham & Company LLC Buy $67.00 to $82.00
2014-06-27 Boost Price Target Deutsche Bank Buy $62.00 to $81.00
2014-06-26 Boost Price Target B. Riley Buy $67.00 to $80.00
2014-06-25 Reiterated Rating Citigroup Inc. Neutral $56.00 to $70.00
2014-06-23 Reiterated Cowen Outperform $63 to $80
2014-06-23 Boost Price Target Cowen and Company Outperform $63.00 to $80.00
2014-06-02 Initiated Coverage Jefferies Group Buy $75.00
2014-05-12 Boost Price Target RBC Capital $57.00 to $62.00
2014-04-24 Reiterated Rating B. Riley Buy $67.00
2014-04-24 Reiterated Rating Citigroup Inc. Hold $56.00
2014-04-24 Boost Price Target Deutsche Bank Buy $58.00 to $62.00
2014-04-24 Boost Price Target Needham & Company LLC $63.00 to $67.00
2014-04-24 Boost Price Target Pacific Crest Outperform $62.00 to $65.00
2014-04-24 Boost Price Target Credit Suisse Outperform $60.00 to $68.00
2014-04-24 Boost Price Target JPMorgan Chase & Co. $65.00 to $70.00
2014-04-24 Boost Price Target Cowen and Company Outperform $58.00 to $60.00
2014-04-24 Reiterated Rating Nomura Buy $70.00
2014-04-10 Initiated Coverage Evercore ISI Strong-Buy $70.00
2014-03-20 Initiated Coverage Nomura Buy $65.00
2014-03-10 Upgrade Ned Davis Research Neutral to Buy
2014-02-03 Downgrade RBC Capital Outperform to Sector Perform $62.00 to $57.00
2014-01-30 Boost Price Target DA Davidson $63.00
2013-11-11 Downgrade Susquehanna Positive to Neutral $63.00 to $60.00
2013-10-25 Boost Price Target DA Davidson Buy $60.00 to $63.00
2013-10-24 Boost Price Target Susquehanna Positive $57.00 to $63.00
2013-10-24 Boost Price Target Piper Jaffray Overweight $56.00 to $59.00
2013-10-24 Boost Price Target Pacific Crest Outperform $55.00 to $62.00
2013-10-24 Boost Price Target Needham & Company LLC Buy $60.00 to $63.00
2013-10-24 Boost Price Target Credit Suisse Outperform $58.00 to $60.00
2013-10-24 Boost Price Target Northland Securities Outperform $58.00 to $65.00
2013-10-24 Upgrade Goldman Sachs Neutral to Buy $45.00 to $64.00
2013-10-21 Boost Price Target Stifel Nicolaus Buy $57.00 to $66.00
2013-10-14 Initiated Coverage JPMorgan Chase & Co. Underweight to Overweight $65.00
2013-10-08 Boost Price Target B. Riley Buy $58.00 to $63.00
2013-07-23 Initiated RBC Capital Mkts Outperform $61
2013-06-03 Reiterated Needham Buy $53 to $60
2013-05-22 Downgrade Standpoint Research Buy to Hold
2013-01-10 Reiterated Needham Hold $40 to $43
2013-01-02 Initiated DA Davidson Buy $56
2012-11-09 Reiterated Barclays Overweight $39 to $44
2012-10-08 Reiterated Needham Buy $42 to $38
2016-07-12 Reiterated Rating Cowen and Company Outperform $85.00
2016-06-25 Reiterated Rating Needham & Company LLC Buy
2016-06-23 Boost Price Target Nomura Buy $85.00 to $95.00
2016-06-23 Boost Price Target Nomura Holdings Inc. Buy $85.00 to $95.00
2016-05-23 Reiterated Rating B. Riley Buy $96.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Anstice Martin B President and CEO 0.08%  (129136) LRCX /
INMAN GRANT M 0.05%  (87638) LRCX / PAYX /
ARCHER TIMOTHY Chief Operating Officer 0.04%  (66089) LRCX /
Varadarajan Seshasayee Group Vice President 0.04%  (63552) LRCX /
Gottscho Richard A Executive Vice President 0.04%  (60223) LRCX /
SPIVEY WILLIAM 0.04%  (60016) CSCD / LRCX / RTN /
MADDOCK ERNEST E Chief Financial Officer 0.03%  (55365) ISIL / LRCX / MU / RVBD /
Bettinger Douglas R EVP, Chief Financial Officer 0.03%  (55206) LRCX /
Lego Catherine P 0.03%  (49248) CY / FCS / IPGP / LRCX / SNDK /
Vahedi Vahid Group Vice President 0.03%  (45947) LRCX /
O'Dowd Sarah A SVP, Chief Legal Officer 0.02%  (37832) LRCX /
BRANDT ERIC 0.02%  (27440) LRCX / XRAY / YHOO /
TALWALKAR ABHIJIT Y 0.02%  (24340) AMD / IRTC / LRCX / LSI / TEL /
Saraswat Krishna 0.01%  (23896) LRCX /
EL MANSY YOUSSEF A 0.01%  (23010) LRCX /
Meikle Scott Gerald Senior Vice President 0.01%  (21458) LRCX /
CANNON MICHAEL R 0.01%  (14740) ADBE / LRCX / STX /
LORD PATRICK J Group Vice President 0.01%  (9761) LRCX /
NEWBERRY STEPHEN G Chairman 0.01%  (8497) LRCX / NANO / SPLK /