Lam Research Corporation's Stock Analysis

Lam Research Changes Independent Auditor to KPMG LLP

Lam Research Corporation has announced the dismissal of Ernst & Young LLP as its independent registered public accounting firm, effective September 8, 2025. The company will engage KPMG LLP as its new independent auditor for the fiscal year 2026 audit. The reports from Ernst & Young for the fiscal years ending June 29, 2025, and June 30, 2024, did not contain any adverse opinions, and there were no disagreements or reportable events between the company and Ernst & Young during this period.

Additionally, during the fiscal years ended June 29, 2025, and June 30, 2024, as well as the interim period leading up to the change, Lam Research did not consult KPMG regarding any accounting principles or audit opinions. There were also no disagreements or reportable events associated with KPMG. The company has provided Ernst & Young with a copy of this report and requested a letter confirming their agreement with the statements made.

Sep 11, 2025 16:05:26

Lam Research Reports $5.17 Billion Revenue for June Quarter

Lam Research Corporation announced its financial results for the quarter ended June 29, 2025, reporting revenue of $5.17 billion. The company achieved a U.S. GAAP gross margin of 50.1%, with operating income at 33.7% of revenue, resulting in a diluted earnings per share (EPS) of $1.35. This represents an increase from the previous quarter, where revenue was $4.72 billion with a gross margin of 49.0% and diluted EPS of $1.03.

The company's cash and cash equivalents rose to $6.4 billion at the end of the June 2025 quarter, up from $5.5 billion in the previous quarter. Deferred revenue also increased to $2.68 billion, compared to $2.01 billion as of March 30, 2025. The estimated future revenue from shipments to customers in Japan was approximately $342 million as of June 29, 2025, down from $587 million in the prior quarter.

Jul 30, 2025 16:07:21

Lam Research Reports $4.72 Billion Revenue for March Quarter

Lam Research Corporation announced its financial results for the quarter ending March 30, 2025, reporting revenue of $4.72 billion, an 8% increase from the previous quarter. The company achieved a U.S. GAAP gross margin of 49.0%, with diluted earnings per share (EPS) of $1.03, up 12% from $0.92 in the prior quarter. Non-GAAP results showed similar trends, with a gross margin also at 49.0% and a diluted EPS of $1.04, reflecting a 14% increase from the previous quarter's $0.91.

The company reported a decrease in cash, cash equivalents, and restricted cash to $5.5 billion, down from $5.7 billion at the end of December 2024. Deferred revenue also saw a slight decline to $2.01 billion, compared to $2.03 billion in the previous quarter. In terms of revenue distribution, China accounted for 31%, Korea for 24%, and Taiwan for another 24%, indicating a significant presence in the Asian markets.

Apr 23, 2025 16:07:25

Lam Research Reports $4.38 Billion Revenue for December Quarter

Lam Research Corporation announced a revenue of $4.38 billion for the quarter ending December 29, 2024, reflecting a 5% increase from the previous quarter. The company reported a U.S. GAAP diluted earnings per share (EPS) of $0.92, which is a 7% rise compared to the $0.86 EPS from the September 2024 quarter. Operating income as a percentage of revenue improved slightly to 30.5%, and the cash generated from operating activities was substantial at $741.9 million, despite a decrease in cash and cash equivalents to $5.7 billion due to capital return activities and expenditures during the quarter. Additionally, systems revenue showed a notable increase, contributing significantly to overall revenue growth.

However, there were some negative aspects in the report, particularly a decline in gross margin percentages, which fell to 47.4% from 48.0% in the prior quarter. Non-GAAP gross margin also decreased to 47.5% from 48.2%. Operating expenses remained relatively stable, but the slight increase in overall expenses alongside the drop in gross margins raised concerns about cost management. Furthermore, the cash reserves decreased, indicating that the company is actively investing in capital return activities, which could impact liquidity in the future.

Jan 29, 2025 16:07:49

Lam Research Reports Strong Financial Results for Q3 2024

Lam Research Corporation announced impressive financial results for the quarter ending September 29, 2024, with revenues reaching $4.17 billion, reflecting an 8% increase from the previous quarter. The company reported a gross margin of 48.0% and a net income of $1.12 billion, translating to a diluted earnings per share of $0.86, marking a 10% growth compared to the prior quarter. Additionally, cash reserves grew to $6.1 billion, showcasing strong cash generation from operations despite capital return activities. The increase in deferred revenue also indicates a positive outlook for future sales.

However, non-GAAP gross margin slightly decreased to 48.2%, and while operating income improved, there were some concerns regarding rising operating expenses, which totaled $738 million. Despite these challenges, the company remains optimistic about its strategic investments in technology and its ability to outperform market growth in the semiconductor sector. Overall, Lam's solid financial performance and growth in key metrics highlight its strong position in the industry.

Oct 23, 2024 16:07:12

Lam Research Welcomes New Directors Ita Brennan and Mark Fields

Lam Research Corporation has announced the appointment of Ita Brennan and Mark Fields to its board of directors, effective August 30, 2024. Brennan brings extensive financial management experience from her previous roles at Arista Networks and other tech companies, while Fields offers decades of executive experience from his time at Ford Motor Company and Hertz. Their diverse backgrounds are expected to enhance Lam's strategic direction and operational excellence.

The chairman of the board, Abhijit Talwalkar, expressed confidence in the new directors, highlighting their global leadership experience as an asset for the company's long-term growth. Lam Research is a key player in the semiconductor industry, providing essential equipment for advanced chip manufacturing, and the addition of these seasoned executives is seen as a positive step towards maintaining its competitive edge.

Aug 30, 2024 16:09:16

Lam Research Reports Strong Quarter with Revenue Growth

Lam Research Corporation reported a revenue increase of 2.1% to $3.87 billion for the June 2024 quarter. Key metrics showed improved operating income and diluted earnings per share, reaching $7.78, up 6% from the previous quarter. The company is investing in R&D and expects continued growth in the wafer fab equipment market. Cash reserves rose to $5.9 billion, indicating strong financial health. However, non-GAAP gross margin slightly decreased, and deferred revenue declined, which may raise concerns about future sales.

Jul 31, 2024 16:09:20

Lam Research Announces $10B Buyback & Stock Split

Lam Research Corporation announced a $10 billion share repurchase plan and a 10-for-1 stock split to increase employee participation. The buyback aims to return cash flow to stockholders, with no set end date. The stock split will adjust outstanding shares and awards. Lam Research is a global semiconductor equipment supplier, known for enabling advanced chip production. The company's move signals confidence in its future growth and commitment to shareholders.

May 21, 2024 07:30:11

Lam Research Corporation Q1 2024 Financial Results

Lam Research Corporation reported strong financial results for Q1 2024 with revenue of $3.79 billion. U.S. GAAP gross margin was 47.5%, with non-GAAP gross margin at 48.7%. Operating income showed a slight decrease from the previous quarter. Cash balances increased, but deferred revenue decreased. The company provided positive guidance for Q2 2024. Management highlighted the company's positioning for semiconductor industry growth and AI transformation.

Apr 24, 2024 16:12:33

Lam Research Corporation's Strong Q4 2023 Financial Results

Lam Research Corporation reported solid Q4 2023 results with $3.76 billion revenue, 46.8% U.S. GAAP gross margin, and $7.22 U.S. GAAP diluted EPS. Non-GAAP results showed $7.52 diluted EPS. Cash and cash equivalents increased to $5.6 billion. The company provided positive outlook for Q1 2024. Revenue distribution included 40% from China and 19% from Korea. Non-GAAP financial results excluded certain expenses. Management uses non-GAAP results to evaluate the company's performance.

Jan 24, 2024 16:09:32