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LRCX Lam Research

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world's leading semiconductor companies, the company combines superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. Lam Research is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe..

Company profile

Ticker
LRCX
Exchange
CEO
Timothy Archer
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
942634797

LRCX stock data

(
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Calendar

28 Apr 21
28 Jul 21
27 Jun 22
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 3.93B 3.93B 3.93B 3.93B 3.93B 3.93B
Cash burn (monthly) 4.38M 24.08M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 17.57M 96.54M n/a n/a n/a n/a
Cash remaining 3.91B 3.83B n/a n/a n/a n/a
Runway (months of cash) 892.1 159.1 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Jul 21 Timothy Archer Common Stock Payment of exercise Dispose F No No 621.9 176 109.45K 80,426
30 Jun 21 Douglas R Bettinger Common Stock Payment of exercise Dispose F No No 650.7 566 368.3K 77,117
15 Jun 21 Scott Gerald Meikle Common Stock Sell Dispose S No Yes 646.92 500 323.46K 17,024
15 Jun 21 Scott Gerald Meikle Common Stock Option exercise Aquire M No Yes 190.7 500 95.35K 17,524
15 Jun 21 Scott Gerald Meikle Employee Stock Option Common Stock Option exercise Dispose M No Yes 190.07 500 95.04K 1,628
14 Jun 21 Timothy Archer Common Stock Sell Dispose S No Yes 650 5,000 3.25M 80,602
10 Jun 21 Timothy Archer Common Stock Sell Dispose S No Yes 634.23 5,000 3.17M 85,602

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1220 1142 +6.8%
Opened positions 181 215 -15.8%
Closed positions 103 88 +17.0%
Increased positions 398 350 +13.7%
Reduced positions 492 433 +13.6%
13F shares
Current Prev Q Change
Total value 69.54B 57.15B +21.7%
Total shares 117.03M 121.12M -3.4%
Total puts 3.92M 4.6M -14.8%
Total calls 2.87M 2.4M +19.6%
Total put/call ratio 1.4 1.9 -28.7%
Largest owners
Shares Value Change
BLK Blackrock 11.68M $6.95B +3.4%
Vanguard 11.55M $6.87B -0.8%
FMR 8.72M $5.19B -0.1%
STT State Street 5.92M $3.53B -2.5%
JPM JPMorgan Chase & Co. 5.41M $3.22B +4.9%
AMP Ameriprise Financial 4.86M $2.9B -8.0%
JHG Janus Henderson 3.91M $2.32B -12.4%
Geode Capital Management 2.22M $1.32B +1.5%
Massachusetts Financial Services 1.91M $1.14B -1.4%
NTRS Northern Trust 1.69M $1.01B -4.0%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -1.54M EXIT
TROW T. Rowe Price 744.84K -1.52M -67.1%
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 1.19M +1.12M +1639.9%
GQG Partners 977.69K +977.69K NEW
Coatue Management 0 -952.19K EXIT
Capital Research Global Investors 749.17K +749.17K NEW
Boston Partners 557.35K -556.98K -50.0%
JHG Janus Henderson 3.91M -552.86K -12.4%
AMP Ameriprise Financial 4.86M -424.44K -8.0%
BLK Blackrock 11.68M +385.99K +3.4%

Financial report summary

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Risks
  • The Semiconductor Capital Equipment Industry Is Subject to Variability and Periods of Rapid Growth or Decline; We Therefore Face Risks Related to Our Strategic Resource Allocation Decisions
  • Future Declines in the Semiconductor Industry, and the Overall World Economic Conditions on Which It Is Significantly Dependent, Could Have a Material Adverse Impact on Our Results of Operations and Financial Condition
  • We Have a Limited Number of Key Customers
  • We Depend on Creating New Products and Processes and Enhancing Existing Products and Processes for Our Success; Consequently, We Are Subject to Risks Associated with Rapid Technological Change
  • Strategic Alliances and Customer Consolidation May Have Negative Effects on Our Business
  • Once a Semiconductor Manufacturer Commits to Purchase a Competitor’s Semiconductor Manufacturing Equipment, the Manufacturer Typically Continues to Purchase That Competitor’s Equipment, Making It More Difficult for Us to Sell Our Equipment to That Customer
  • We Face a Challenging and Complex Competitive Environment
  • The COVID-19 Outbreak Has Adversely Impacted, and May Continue to Adversely Impact, Our Business, Operations, and Financial Results
  • Our Revenues and Operating Results Are Variable
  • Certain Critical Information Systems, That We Rely on for the Operation of Our Business and Products That We Sell, Are Susceptible to Cybersecurity and Other Threats or Incidents
  • We Are Subject to Risks Relating to Product Concentration and Lack of Product Revenue Diversification
  • We Depend on a Limited Number of Key Suppliers and Outsource Providers, and We Run the Risk That They Might Not Perform as We Expect
  • We Face Risks Related to the Disruption of Our Primary Manufacturing Facilities
  • Our Future Success Depends Heavily on International Sales and the Management of Global Operations
  • Our Ability to Attract, Retain, and Motivate Key Employees Is Critical to Our Success
  • We May Fail to Protect Our Critical Proprietary Technology Rights, Which Could Affect Our Business
  • If We Choose to Acquire or Dispose of Businesses, Product Lines, and Technologies, We May Encounter Unforeseen Costs and Difficulties That Could Impair Our Financial Performance
  • Our Sales to Customers in China, a Region of Growing Significance to Us, Could be Materially and Adversely Affected by Export License Requirements and Other Regulatory Changes, or Other Governmental Actions in the Course of the Trade Relationship Between the U.S. and China
  • Our Financial Results May Be Adversely Impacted by Higher than Expected Tax Rates or Exposure to Additional Tax Liabilities
  • We Are Exposed to Various Risks from Our Regulatory Environment
  • A Failure to Comply with Environmental Regulations May Adversely Affect Our Operating Results
  • Intellectual Property, Indemnity, and Other Claims Against Us Can Be Costly and We Could Lose Significant Rights That Are Necessary to Our Continued Business and Profitability
  • Our Bylaws Designate the Court of Chancery of the State of Delaware as the Sole and Exclusive Judicial Forum for Certain Legal Actions Between the Company and its Stockholders, Which May Discourage Lawsuits with Respect to Such Claims.
  • The Market for Our Common Stock Is Volatile, Which May Affect Our Ability to Raise Capital or Make Acquisitions or May Subject Our Business to Additional Costs
  • We May Incur Impairments to Goodwill or Long-lived Assets
  • Our Leverage and Debt Service Obligations May Adversely Affect Our Financial Condition, Results of Operations, and Earnings per Share
  • Our Credit Agreements Contain Covenant Restrictions That May Limit Our Ability to Operate Our Business
  • There Can Be No Assurance That We Will Continue to Declare Cash Dividends or Repurchase Our Shares at All or in Any Particular Amounts
Management Discussion
  • Revenue for the March 2021 quarter increased 11% from the December 2020 quarter, reflecting increased customer spending on capital equipment and services.
  • Please refer to Note 3, “Revenue,” to the Condensed Consolidated Financial Statements of this Form 10-Q for additional information regarding the composition of the two categories into which revenue has been disaggregated.
  • Gross margin as a percentage of revenue was lower in the March 2021 quarter compared to the December 2020 quarter primarily as a result of higher manufacturing-related spending and higher employee-related costs, partially offset by favorable changes in customer and product mix.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: carbon, climate, commonly, foundational, notified, Subtopic
Removed: back, closure, factory, noncurrent, permanent, utilization

Patents

GRANT
Utility
Fill on demand ampoule refill
27 Jul 21
Methods and apparatus for use of a fill on demand ampoule are disclosed.
GRANT
Utility
Suppressing interfacial reactions by varying the wafer temperature throughout deposition
27 Jul 21
Disclosed are methods of and apparatuses and systems for depositing a film in a multi-station deposition apparatus.
APP
Utility
Components and Processes for Managing Plasma Process Byproduct Materials
22 Jul 21
Components and processes are disclosed herein for managing non-volatile and/or low-volatility byproduct materials that are generated within a plasma processing region of a plasma processing chamber during performance of various plasma-based processes on a substrate.
GRANT
Utility
In situ vapor deposition polymerization to form polymers as precursors to viscoelastic fluids for particle removal from substrates
20 Jul 21
A method for cleaning a substrate includes supplying a vapor to a processing chamber to grow a polymer film on a substrate in the processing chamber; adding a solution to the polymer film on the substrate to create a viscoelastic fluid on the substrate; and removing the viscoelastic fluid to remove particle contaminants from the substrate.
GRANT
Utility
Atomic layer etch of tungsten for enhanced tungsten deposition fill
20 Jul 21
Methods of depositing tungsten into high aspect ratio features using a dep-etch-dep process integrating various deposition techniques with alternating pulses of surface modification and removal during etch are provided herein.