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
Website
CEO
Timothy Archer
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
942634797
LRCX stock data
()
News
Wells Fargo Maintains Equal-Weight on Lam Research, Raises Price Target to $645
16 Apr 21
Credit Suisse Maintains Outperform on Lam Research, Raises Price Target to $750
16 Apr 21
Deutsche Bank Maintains Hold on Lam Research, Raises Price Target to $680
16 Apr 21
Argus Research Maintains Buy on Lam Research, Raises Price Target to $725
15 Apr 21
Cowen & Co. Maintains Outperform on Lam Research, Raises Price Target to $700
14 Apr 21
Press releases
Lam Research Corporation Announces March 2021 Quarter Financial Conference Call
31 Mar 21
Lam Research Corporation Announces Notice of Full Redemption of 2.625% Senior Convertible Notes Due 2041 of Novellus Systems, Inc.
26 Mar 21
Lam Research Corporation Announces Participation at Upcoming Conference
16 Feb 21
Thinking about trading options or stock in Walt Disney, Lam Research, AstraZeneca, American Airlines, or Square?
12 Feb 21
Lam Research Corporation Declares Quarterly Dividend
8 Feb 21
Calendar
2 Feb 21
17 Apr 21
27 Jun 21
Financial summary
Quarter (USD) |
Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
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Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) |
Jun 20 | Jun 19 | Jun 18 | Jun 17 | |
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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 |
Recent insider trades
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 |
Institutional ownership Q4 2020
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 |
---|---|
Total holders | 1136 |
Opened positions | 210 |
Closed positions | 88 |
Increased positions | 349 |
Reduced positions | 433 |
13F shares |
Current |
---|---|
Total value | 57.14B |
Total shares | 121.1M |
Total puts | 4.6M |
Total calls | 2.4M |
Total put/call ratio | 1.9 |
Largest owners |
Shares | Value |
---|---|---|
Vanguard | 11.64M | $5.5B |
BLK Blackrock | 11.29M | $5.33B |
FMR | 8.73M | $4.12B |
STT State Street | 6.07M | $2.87B |
AMP Ameriprise Financial | 5.29M | $2.5B |
JPM JPMorgan Chase & Co. | 5.16M | $2.44B |
JHG Janus Henderson | 4.46M | $2.11B |
TROW T. Rowe Price | 2.26M | $1.07B |
Geode Capital Management | 2.19M | $1.03B |
Massachusetts Financial Services | 1.94M | $914.82M |
Financial report summary
?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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Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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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
Financial reports
10-Q
2021 Q2
Quarterly report
2 Feb 21
10-Q
2021 Q1
Quarterly report
27 Oct 20
10-K
2020 FY
Annual report
18 Aug 20
10-Q
2020 Q3
Quarterly report
28 Apr 20
10-Q
2020 Q2
Quarterly report
4 Feb 20
10-Q
2020 Q1
Quarterly report
29 Oct 19
10-K
2019 FY
Annual report
20 Aug 19
10-Q
2019 Q3
Quarterly report
30 Apr 19
10-Q
2019 Q2
Quarterly report
30 Jan 19
10-Q
2019 Q1
Quarterly report
23 Oct 18
Current reports
8-K
Regulation FD Disclosure
19 Mar 21
8-K
Results of Operations and Financial Condition
27 Jan 21
8-K
Departure of Directors or Certain Officers
28 Dec 20
8-K
Regulation FD Disclosure
11 Dec 20
8-K
Lam Research Corporation Announces $5 Billion Share Repurchase Authorization and Declares Quarterly Dividend
5 Nov 20
8-K
Results of Operations and Financial Condition
21 Oct 20
8-K
Regulation FD Disclosure
2 Oct 20
8-K
Departure of Directors or Certain Officers
14 Sep 20
8-K
Departure of Directors or Certain Officers
8 Sep 20
8-K
Results of Operations and Financial Condition
29 Jul 20
Registration and prospectus
424B5
Prospectus supplement for primary offering
1 May 20
FWP
Free writing prospectus
30 Apr 20
424B5
Prospectus supplement for primary offering
30 Apr 20
S-8
Registration of securities for employees
26 Sep 19
S-8
Registration of securities for employees
30 Apr 19
424B5
Prospectus supplement for primary offering
26 Feb 19
FWP
Free writing prospectus
25 Feb 19
424B3
Prospectus supplement
25 Feb 19
S-3ASR
Automatic shelf registration
21 Feb 19
RW
Registration withdrawal request
10 Oct 16
Proxies
DEFA14A
Additional proxy soliciting materials
15 Oct 20
DEFA14A
Additional proxy soliciting materials
23 Sep 20
DEF 14A
Definitive proxy
23 Sep 20
DEFA14A
Additional proxy soliciting materials
16 Oct 19
DEFA14A
Additional proxy soliciting materials
15 Oct 19
DEFA14A
Additional proxy soliciting materials
25 Sep 19
DEF 14A
Definitive proxy
25 Sep 19
DEF 14A
Definitive proxy
25 Sep 18
DEFA14A
Additional proxy soliciting materials
25 Sep 18
DEF 14A
Definitive proxy
27 Sep 17
Other
UPLOAD
Letter from SEC
18 Jan 21
CORRESP
Correspondence with SEC
14 Jan 21
UPLOAD
Letter from SEC
5 Jan 21
SD
Conflict minerals disclosure
1 Jun 20
SD
Conflict minerals disclosure
31 May 19
SD
Conflict minerals disclosure
31 May 18
SD
Conflict minerals disclosure
30 May 17
SD
Conflict minerals disclosure
30 May 16
EFFECT
Notice of effectiveness
12 Jan 16
CORRESP
Correspondence with SEC
11 Jan 16
Ownership
4
LAM RESEARCH / TIMOTHY ARCHER ownership change
7 Apr 21
4
LAM RESEARCH / Douglas R Bettinger ownership change
1 Apr 21
4
LAM RESEARCH / Scott Gerald Meikle ownership change
16 Mar 21
4
LAM RESEARCH / TIMOTHY ARCHER ownership change
8 Mar 21
4
LAM RESEARCH / Douglas R Bettinger ownership change
4 Mar 21
4
LAM RESEARCH / Richard A Gottscho ownership change
4 Mar 21
4
LAM RESEARCH / Ava Hahn ownership change
4 Mar 21
4
LAM RESEARCH / TIMOTHY ARCHER ownership change
4 Mar 21
4
LAM RESEARCH / PATRICK J LORD ownership change
4 Mar 21
4
LAM RESEARCH / Vahid Vahedi ownership change
4 Mar 21
Patents
GRANT
Utility
One-piece anode for tuning electroplating at an edge of a substrate
13 Apr 21
An active (consumable) anode includes, in one aspect, a generally annular body and a protrusion used for connecting the anode to the power supply, where the protrusion extends outward from the generally annular body of the anode.
GRANT
Utility
Fill process optimization using feature scale modeling
13 Apr 21
Provided herein are systems and methods for optimizing feature fill processes.
GRANT
Utility
Method of improving deposition induced CD imbalance using spatially selective ashing of carbon based film
13 Apr 21
A method for forming features over a wafer with a carbon based deposition is provided.
GRANT
Utility
Substrate holder having integrated temperature measurement electrical devices
13 Apr 21
A substrate holder includes a base plate, a bond layer disposed over the base plate, and a ceramic layer disposed over the bond layer.
APP
Utility
Thermal Atomic Layer Etch with Rapid Temperature Cycling
8 Apr 21
Disclosed are apparatuses and methods for performing atomic layer etching.
Transcripts
2021 Q2
Earnings call transcript
28 Jan 21
2021 Q1
Earnings call transcript
21 Oct 20
2020 Q4
Earnings call transcript
30 Jul 20
2020 Q3
Earnings call transcript
23 Apr 20
2020 Q2
Earnings call transcript
29 Jan 20
2020 Q1
Earnings call transcript
23 Oct 19
2019 Q4
Earnings call transcript
31 Jul 19
2019 Q3
Earnings call transcript
25 Apr 19
2019 Q2
Earnings call transcript
23 Jan 19
2019 Q1
Earnings call transcript
16 Oct 18
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