Lam Research Corporation's Stock Analysis

Lam Research Stockholders Approve Key Proposals at Annual Meeting

On November 4, 2025, Lam Research Corporation held its annual meeting where stockholders approved several significant proposals. These included the adoption of the 2025 Stock Incentive Plan, approval of executive compensation, and ratification of KPMG LLP as the independent registered public accounting firm for fiscal year 2026. Additionally, stockholders approved an amendment to the Restated Certificate of Incorporation that limits the liability of certain officers as permitted by Delaware law.

All director nominees were elected, and the stockholder proposal regarding the ability to call for a special shareholder meeting was not approved. The amendments and plans discussed are detailed in the company's proxy statement filed with the SEC, which provides further context on the implications for corporate governance and executive compensation structures.

Nov 06, 2025 16:02:44

Lam Research Reports Q3 2025 Financial Results and Metrics

Lam Research Corporation reported financial results for the quarter ending September 28, 2025, with a revenue of $5.32 billion. The company achieved a U.S. GAAP gross margin of 50.4%, an operating income of 34.4% of revenue, and a diluted earnings per share (EPS) of $1.24. Comparatively, the previous quarter (June 29, 2025) showed revenue of $5.17 billion, a gross margin of 50.1%, an operating income of 33.7%, and a diluted EPS of $1.35.

The company’s cash, cash equivalents, and restricted cash increased to $6.7 billion by the end of the September quarter, up from $6.4 billion in June. Deferred revenue also rose to $2.77 billion, compared to $2.68 billion in the previous quarter. Revenue from systems and customer support-related services was detailed, with significant contributions from both areas. Lam Research continues to position itself within the semiconductor industry, focusing on innovations and addressing customer needs.

Oct 22, 2025 16:08:05

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