Lam Research (LRCX)

• Market cap: $92.4B
• 1 day: 0.81%
• 5 days: -5.87%
• 1 month: 2.48%
• 3 months: -7.15%
• 6 months: -32.36%
• Year to date: -4.19%
• 1 year: -4.90%
• 5 years: 141.39%
• 10 years: 779.78%
• Sector: Industrials
• Industry: Special Industry Machinery

About: Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.

Employees: 17,200

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

11% more repeat investments, than reductions

Existing positions increased: 579 | Existing positions reduced: 523

0.82% more ownership

Funds ownership: 85.41% [Q2] → 86.23% (+0.82%) [Q3]

19% less funds holding

Funds holding: 1,772 [Q2] → 1,438 (-334) [Q3]

22% less call options, than puts

Call options by funds: $2.13B | Put options by funds: $2.72B

34% less capital invested

Capital invested by funds: $119B [Q2] → $78.2B (-$40.6B) [Q3]

64% less funds holding in top 10

Funds holding in top 10: 81 [Q2] → 29 (-52) [Q3]

75% less first-time investments, than exits

New positions opened: 113 | Existing positions closed: 447

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $78 9% upside
• Avg. target: $94 31% upside
• High target: $110 53% upside

7 analyst ratings

• positive: 3 43%
• neutral: 4 57%
• negative: 0 0%

Wells Fargo Joseph Quatrochi 17% 1-year accuracy 3 / 18 met price target	16% upside $83	Equal-Weight Maintained	6 Dec 2024
Morgan Stanley Joseph Moore 63% 1-year accuracy 36 / 57 met price target	9% upside $78	Equal-Weight Maintained	5 Dec 2024
Bernstein Stacy Rasgon 63% 1-year accuracy 5 / 8 met price target	18% upside $85	Market Perform Maintained	29 Nov 2024
Cantor Fitzgerald C J Muse 44% 1-year accuracy 36 / 82 met price target	39% upside $100	Neutral Reiterated	24 Oct 2024
Stifel Brian Chin 35% 1-year accuracy 9 / 26 met price target	39% upside $100	Buy Reiterated	24 Oct 2024