LAM RESEARCH CORPORATION
At today's price, LAM RESEARCH CORPORATION (LRCX) is priced for today's economics sustained for ~7.3 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Lam supplies the etch and deposition tools that benefit most as memory chips grow more vertically complex, and the AI build pushed memory to 39% of systems revenue with DRAM at a record 27% as 2026 wafer-fab-equipment spending was raised toward $140 billion [Source: Lam Q3 FY2026 earnings call, April 2026]. • The biggest risks are cyclical and geographic: the price embeds a peak equipment cycle continuing, while China revenue share has fallen to about 34% and is set to decline further on expor
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2,578 institutional managers reported holding LRCX in 13F filings for the quarter ended 2026-03-31. Together they hold about 78% of the company; the top 10 hold 39%. 348 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 29.9M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (2.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
LRCX has cut its share count 11.8% over the past five years, spending $15.80B on repurchases. It pays a dividend, and has for 12 years running, raised 11 years straight; the current rate is $0.92 a share annually. Cash returned over the past three years: $3.11B in dividends and $9.88B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at LRCX over the trailing three years: 2025: 1 buy totaling $1k. 20 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
LRCX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-16 | +8.0% | -0.6% |
| 2023-10-24 | -7.4% | +31.7% |
| 2024-01-30 | +4.2% | +15.7% |
| 2024-04-30 | +1.6% | +19.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
LRCX's latest 8-K filings: 2026-04-22 (items 2.02, 9.01); 2026-02-03 (items 5.02, 9.01); 2026-01-28 (items 2.02, 9.01); 2025-11-06 (items 3.03, 5.02, 5.03, 5.07, 9.01); 2025-10-22 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.