Lam Research (LRCX)

• Market cap: $160B
• 1 day: 3.61%
• 5 days: 8.95%
• 1 month: 27.73%
• 3 months: 36.93%
• 6 months: 63.26%
• Year to date: 74.35%
• 1 year: 67.09%
• 5 years: 311.13%
• 10 years: 1,673.88%
• Sector: Technology
• Industry: Semiconductor Equipment & Materials

About: Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.

Employees: 19,000

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

83% more first-time investments, than exits

New positions opened: 240 | Existing positions closed: 131

52% more funds holding in top 10

Funds holding in top 10: 31 [Q1] → 47 (+16) [Q2]

38% more capital invested

Capital invested by funds: $74.2B [Q1] → $102B (+$28B) [Q2]

12% more repeat investments, than reductions

Existing positions increased: 735 | Existing positions reduced: 656

4% more funds holding

Funds holding: 1,773 [Q1] → 1,846 (+73) [Q2]

2.51% more ownership

Funds ownership: 79.65% [Q1] → 82.16% (+2.51%) [Q2]

8% less call options, than puts

Call options by funds: $2.1B | Put options by funds: $2.28B

Research analyst outlook

16 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $83
• Avg. target: $113
• High target: $130

16 analyst ratings

• positive: 13 81%
• neutral: 2 13%
• negative: 1 6%

Mizuho Vijay Rakesh	$130	Outperform Maintained	12 Sep 2025
Citigroup Atif Malik	$120	Buy Maintained	8 Sep 2025
Morgan Stanley Joseph Moore	$92	Underweight Downgraded	2 Sep 2025
Cantor Fitzgerald C.J. Muse	$120	Overweight Maintained	21 Aug 2025
Argus Research Jim Kelleher	$120	Buy Maintained	1 Aug 2025