Company profile

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

LRCX stock data

(
)

Calendar

28 Apr 20
5 Jul 20
28 Jun 21

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 2.5B 2.58B 2.17B 2.36B
Net income 574.78M 514.51M 465.79M 541.83M
Diluted EPS 3.88 3.43 3.09 3.5
Net profit margin 22.96% 19.92% 21.51% 22.95%
Operating income 694.11M 686.51M 537.46M 617.09M
Net change in cash 925.7M -1.57B 948.96M -1.27B
Cash on hand 3.96B 3.04B 4.61B 3.66B
Cost of revenue 1.34B 1.4B 1.18B 1.28B
Annual (USD) Jun 19 Jun 18 Jun 17 Jun 16
Revenue 9.65B 11.08B 8.01B 5.89B
Net income 2.19B 2.38B 1.7B 914.05M
Diluted EPS 13.7 13.17 9.24 5.22
Net profit margin 22.70% 21.49% 21.19% 15.53%
Operating income 2.46B 3.21B 1.9B 1.07B
Net change in cash -854.04M 2.13B -2.66B 3.54B
Cash on hand 3.66B 4.51B 2.38B 5.04B
Cost of revenue 5.3B 5.91B 4.41B 3.27B

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
30 Jun 20 Douglas R Bettinger Common Stock Payment of exercise Dispose F No 323.46 566 183.08K 102,978
5 Jun 20 Timothy Archer Common Stock Payment of exercise Dispose F No 304.92 175 53.36K 96,794
29 May 20 Douglas R Bettinger Common Stock Payment of exercise Dispose F No 273.67 566 154.9K 103,544
6 May 20 Timothy Archer Common Stock Payment of exercise Dispose F No 244.56 176 43.04K 96,969
30 Apr 20 Douglas R Bettinger Common Stock Payment of exercise Dispose F No 255.28 566 144.49K 104,021
85.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 953 984 -3.2%
Opened positions 108 190 -43.2%
Closed positions 139 90 +54.4%
Increased positions 317 278 +14.0%
Reduced positions 413 390 +5.9%
13F shares
Current Prev Q Change
Total value 312.95B 391.66B -20.1%
Total shares 123.38M 126M -2.1%
Total puts 3.89M 6.27M -37.9%
Total calls 2.79M 2.85M -2.4%
Total put/call ratio 1.4 2.2 -36.4%
Largest owners
Shares Value Change
BLK BlackRock 12.66M $3.04B +1.2%
Vanguard 12.09M $2.9B +2.5%
FMR 8.25M $1.98B -2.2%
AMP Ameriprise Financial 6.51M $1.56B -17.9%
STT State Street 6.38M $1.54B -1.1%
JHG Janus Henderson 4.41M $1.06B -6.4%
N Price T Rowe Associates 3.61M $866.09M +82.3%
JPM JPMorgan Chase & Co. 3.31M $795.27M +264.0%
Geode Capital Management 2.57M $616.43M +2.9%
Nuveen Asset Management 2.11M $506.97M +32.3%
Largest transactions
Shares Bought/sold Change
JPM JPMorgan Chase & Co. 3.31M +2.4M +264.0%
N Price T Rowe Associates 3.61M +1.63M +82.3%
Norges Bank 0 -1.62M EXIT
AMP Ameriprise Financial 6.51M -1.42M -17.9%
Arrowstreet Capital, Limited Partnership 314.35K -884.06K -73.8%
Aqr Capital Management 1.06M -798.4K -43.0%
Two Sigma Advisers 490.25K -634.3K -56.4%
Fisher Asset Management 542.12K +541.12K +53842.4%
Nuveen Asset Management 2.11M +516.12K +32.3%
Whale Rock Capital Management 502.85K +502.85K NEW

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
  • Our Revenues and Operating Results Are Variable
  • We May Incur Impairments to Goodwill or Long-lived Assets
  • Our Credit Agreements Contain Covenant Restrictions That May Limit Our Ability to Operate Our Business
  • 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
  • We Are Subject to Risks Relating to Product Concentration and Lack of Product Revenue Diversification
  • Strategic Alliances and Customer Consolidation May Have Negative Effects on Our Business
  • 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
  • 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
  • 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
  • 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
  • Our Financial Results May Be Adversely Impacted by Higher than Expected Tax Rates or Exposure to Additional Tax Liabilities
  • A Failure to Comply with Environmental Regulations May Adversely Affect Our Operating Results
  • 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
  • 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
  • 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
  • We May Fail to Protect Our Critical Proprietary Technology Rights, Which Could Affect Our Business
  • We Are Exposed to Various Risks from Our Regulatory Environment
  • 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 decreased in fiscal year 2019 compared to fiscal year 2018, but increased compared to fiscal year 2017, primarily as a result of the volatility of semiconductor capital investments by our customers. The overall Asia region continued to account for a majority of our revenues as a substantial amount of the worldwide capacity investments for semiconductor manufacturing continued to occur in this region.
  • Our deferred revenue balance was $449 million as of June 30, 2019, compared to $994 million as of June 24, 2018. The deferred revenue at the end of June 2019 is recognized under Accounting Standard Codification (“ASC”) 606, while the same values as of June 2018 are recognized under ASC 605, which contributes to the change in value period over period. Our deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of customer acceptance. The anticipated future revenue value from shipments to customers in Japan was approximately $78 million as of June 30, 2019, compared to $607 million as of June 24, 2018.
  • The decrease in gross margin as a percentage of revenue for fiscal year 2019 compared to fiscal year 2018 was primarily due to lower factory utilization.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: agent, amp, bear, behalf, Bettinger, broader, calendar, certainty, chose, chosen, confirmed, delaying, derecognize, disease, distancing, drawn, duly, dynamic, exacerbated, Exhibit, external, flat, formated, Inline, instance, Interactive, lapse, macroeconomic, movement, necessitating, Page, pandemic, penalty, President, Pursuant, qualification, Reliant, secular, shelter, stay, stayed, sunset, suspected, teleworking, thereunto, tied, unavailable, undersigned, unemployment, upgrade, Vice, worsening, XBRL, XSOX
Removed: AA, anticipate, backstop, DRAM, inflection, Moody, Poor, slightly, taxation