In the latest market close, Lam Research (LRCX) reached $847.37, with a +1.39% movement compared to the previous day. This change outpaced the S&P 500's 1.15% gain on the day. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 1.47%. Shares of the semiconductor equipment maker have depreciated by 5.47% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.53% and the S&P 500's gain of 0.27%. The upcoming earnings release of Lam Research wil ...

Lam Research NASDAQ: LRCX is a lesser-known company in the semiconductor industry compared to powerhouses like NVIDIA NASDAQ: NVDA and Taiwan Semiconductor NYSE: TSM, but it is an important one. Let's examine the company's annual report to better understand its operations and identify some headwinds and tailwinds. Get TSM alerts: Lam Research: Industry-Leading Semiconductor Equipment Provider Lam Research Today LRCX Lam Research $862.86 -18.42 (-2.09%) 52-Week Range $574.42 ▼ $1,130.00 Dividend Yield 0.93% ...

Monty Rakusen/DigitalVision via Getty Images Investment Thesis Lam Research (NASDAQ:LRCX) is the largest provider of Etching equipment to the Semiconductor industry. Shares are down 23% from peak. The company earns high ROIC, is likely to grow sales > 10% in the long term and has reduced share count by 28% since 2018; it is a quality compounder that I want to own for the long term. But it operates in a cyclical market, and entry price matters to return. I think we have entered the second half of this positi ...

A sharp pullback in this semiconductor stock has made it particularly appealing. After a promising performance in the first half of the year, Lam Research (LRCX 1.10%) stock has been in the doghouse lately. It's lost 30% of its value since hitting a 52-week high on July 11, but the company's latest results indicate this pullback could be a buying opportunity. Lam released fiscal 2024 fourth-quarter results (for the three months ended June 30) on July 31, and its numbers were well ahead of analysts' expectat ...

Lam Research Corporation (LRCX) delivered fourth-quarter fiscal 2024 non-GAAP earnings of $8.14 per share, which surpassed the Zacks Consensus Estimate by 8.2%. The figure increased 36.1% from the year-ago quarter. Revenues of $3.87 billion surpassed the Zacks Consensus Estimate of $3.81 billion. The figure increased 20.7% year over year. Year-over-year growth in the top line was driven by the strong performance of the Customer Support Business Group and the rebound in the System business. Improving memory ...

Financial Data and Key Metrics Changes - Revenue for the June quarter was $3.87 billion, an increase from the prior quarter and above the midpoint of guidance [16] - Gross margin for the June quarter was 48.5%, slightly down from 48.7% in the March quarter, benefiting from improved factory efficiencies [20] - Free cash flow for the June quarter was approximately $4.3 billion, representing 29% of revenue [15] - Diluted earnings per share for the June quarter were $8.14, close to the high end of guidance [23] Business Line Data and Key Metrics Changes - Systems revenue in memory was 36%, down from 44% in the prior quarter, primarily due to a decline in DRAM investments [17] - Foundry segment represented 43% of systems revenue, roughly flat compared to the March quarter [18] - Customer Support Business Group (CSBG) revenue was approximately $1.7 billion, up 22% from the prior quarter [19] Market Data and Key Metrics Changes - China region accounted for 39% of total revenue, down from 42% in the prior quarter, driven by domestic spending [19] - Korea represented 18% of revenue, down from 24%, while Taiwan increased to 15% from 9% [19] Company Strategy and Development Direction - The company is prioritizing strategic investments in product development, global R&D infrastructure, and digital transformation for operational efficiency [6] - Long-term focus includes capitalizing on the increase in etch and deposition intensity, particularly in AI-related applications [14] - The company plans to hold an Investor Day in February 2025 to discuss long-term opportunities [14] Management's Comments on Operating Environment and Future Outlook - Management expects WFE spending to be in the mid $90 billion range for the year, with a positive environment for continued growth in 2025 [6][7] - The company anticipates that memory customers will bias WFE spending toward technology upgrades of the installed base [8] - Management noted that the recovery in the spares business is beginning and upgrade activity should improve as the year progresses [27] Other Important Information - The company announced a $10 billion share repurchase authorization, with $10.8 billion remaining in the plan at the end of the June quarter [23] - Capital expenditures for the June quarter were $101 million, focused on lab investments and manufacturing facilities in Asia [25] Q&A Session Summary Question: Clarification on service system mix in guidance - Management expects service to grow modestly for the year, particularly strong in the June quarter [30] Question: Insights on DRAM investments - Management highlighted progress in conductor etch capabilities targeted at future DRAM challenges, with strong positions in HBM and TSV etching [32][33] Question: Outlook for China market - Management indicated that China is expected to have a solid year, with spending being somewhat first-half weighted [37] Question: Gross margin expectations for December quarter - Management signaled a slight headwind in gross margin due to customer mix, but did not provide specific numbers [38] Question: Sustainability of CSBG growth - Management noted that CSBG includes various components, with upgrades expected to become a more prominent part of WFE spending [45][46] Question: NAND WFE outlook - Management stated that upgrades will be a significant driver of NAND WFE, with confidence in outgrowing WFE in the NAND space [54] Question: Impact of export controls on customer behavior - Management observed no noticeable change in customer behavior due to export control concerns [72]

FREMONT, Calif., July 31, 2024 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX) today extended its leadership in 3D NAND flash memory etching with the introduction of Lam Cryo™ 3.0, the third generation of the company's production-proven cryogenic dielectric etch technology. As the proliferation of generative artificial intelligence (AI) continues to propel the demand for memory with higher capacity and performance, Lam Cryo 3.0 provides etch capabilities critical for the manufacturing of future leading-ed ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Lam Research Corporation Reports Financial Results for the Quarter Ended June 30, 2024 FREMONT, Calif., July 31, 2024 - Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended June 30, 2024 (the "June 2024 quarter"). Highlights for the June 2024 quarter were as follows: • Revenue of $3.87 billion. • U.S. GAAP gross margin of 47.5%, U.S. GAAP operating income as a percentage of revenue of 29.1%, and U.S. GAAP d ...

FREMONT, Calif., July 31, 2024 /PRNewswire/ -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended June 30, 2024 (the "June 2024 quarter"). Highlights for the June 2024 quarter were as follows: Revenue of $3.87 billion. U.S. GAAP gross margin of 47.5%, U.S. GAAP operating income as a percentage of revenue of 29.1%, and U.S. GAAP diluted EPS of $7.78. Non-GAAP gross margin of 48.5%, non-GAAP operating income as a percentage of revenue of 30. ...

Lam Research (LRCX) is scheduled to release its fourth-quarter fiscal 2024 results on Jul 31. | --- | --- | --- | --- | --- | |-----------------------------------------|---------------------|-------------------|-----------------------|--------------------| | | | | | | | Magnitude - Consensus Estimate Trend 0 | urrent Otr (6/2024) | Next Otr (9/2024) | Current Year (6/2024) | Next Year (6/2025) | | Current | 7.52 | 7.98 | 29.67 | 35.25 | | 7 Days Ago | | 7.98 | 29.67 | 35.25 | | | | 7.98 | 29.67 | 35.29 | | ...