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LRCX Lam Research

Lam Research Corporation is an American corporation that engages in the design, manufacture, marketing, and service of semiconductor processing equipment used in the fabrication of integrated circuits. Its products are used primarily in front-end wafer processing, which involves the steps that create the active components of semiconductor devices and their wiring . The company also builds equipment for back-end wafer-level packaging , and for related manufacturing markets such as for microelectromechanical systems . Lam Research was founded in 1980 by Dr. David K. Lam and is headquartered in Fremont, California, in the Silicon Valley. As of 2018, it was the second largest manufacturer in the Bay Area, after Tesla.

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

2 Feb 21
17 Apr 21
27 Jun 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 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) 3.94B 3.94B 3.94B 3.94B 3.94B 3.94B
Cash burn (monthly) 147.52M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 545.46M n/a n/a n/a n/a n/a
Cash remaining 3.39B n/a n/a n/a n/a n/a
Runway (months of cash) 23.0 n/a 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 Apr 21 Timothy Archer Common Stock Payment of exercise Dispose F No No 652.48 175 114.18K 90,847
31 Mar 21 Douglas R Bettinger Common Stock Payment of exercise Dispose F No No 595.24 566 336.91K 78,709
15 Mar 21 Scott Gerald Meikle Common Stock Sell Dispose S No Yes 521.6 500 260.8K 17,024
15 Mar 21 Scott Gerald Meikle Common Stock Option exercise Aquire M No Yes 190.7 500 95.35K 17,524
15 Mar 21 Scott Gerald Meikle Employee Stock Option Common Stock Option exercise Dispose M No Yes 190.07 500 95.04K 2,128
5 Mar 21 Timothy Archer Common Stock Payment of exercise Dispose F No No 547.7 176 96.4K 91,022
2 Mar 21 Scott Gerald Meikle Common Stock Payment of exercise Dispose F No No 573.36 295 169.14K 17,024

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

84.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1136 1014 +12.0%
Opened positions 210 104 +101.9%
Closed positions 88 120 -26.7%
Increased positions 349 388 -10.1%
Reduced positions 433 375 +15.5%
13F shares
Current Prev Q Change
Total value 57.14B 41.33B +38.2%
Total shares 121.1M 120.96M +0.1%
Total puts 4.6M 4.15M +10.7%
Total calls 2.4M 2.63M -8.8%
Total put/call ratio 1.9 1.6 +21.3%
Largest owners
Shares Value Change
Vanguard 11.64M $5.5B -2.1%
BLK Blackrock 11.29M $5.33B -0.4%
FMR 8.73M $4.12B +12.1%
STT State Street 6.07M $2.87B -3.7%
AMP Ameriprise Financial 5.29M $2.5B -12.6%
JPM JPMorgan Chase & Co. 5.16M $2.44B +16.3%
JHG Janus Henderson 4.46M $2.11B -9.9%
TROW T. Rowe Price 2.26M $1.07B -30.1%
Geode Capital Management 2.19M $1.03B -0.9%
Massachusetts Financial Services 1.94M $914.82M +71.3%
Largest transactions
Shares Bought/sold Change
Norges Bank 1.54M +1.54M NEW
Sands Capital Management 1.4M +1.4M NEW
TROW T. Rowe Price 2.26M -973.49K -30.1%
FMR 8.73M +940.59K +12.1%
Massachusetts Financial Services 1.94M +806.46K +71.3%
AMP Ameriprise Financial 5.29M -765.21K -12.6%
JPM JPMorgan Chase & Co. 5.16M +722.35K +16.3%
Cibc World Markets 539.41K +513.76K +2003.3%
JHG Janus Henderson 4.46M -491.51K -9.9%
GS Goldman Sachs 1.17M -367.91K -23.9%

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 December 2020 quarter increased 9% from the September 2020 quarter, as a result of increased investments from our memory customers.
  • 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 December 2020 quarter compared to the September 2020 quarter primarily due to customer and product mix.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: add, added, afforded, bring, bylaw, Chancery, Chinese, claim, consent, Delaware, discourage, doctrine, fiduciary, forum, Interbank, language, list, London, owe, promoting, prompt, relief, resolution, SMIC, stockholder, subsection, summary
Removed: accrue, ASC, comprised, execution, generation, hand, impairing, pledge, unhedged, yielded