Lam Research (LRCX)

• Market cap: $110B
• 1 day: -3.37%
• 5 days: 4.08%
• 1 month: 5.55%
• 3 months: 17.63%
• 6 months: -1.50%
• Year to date: 18.75%
• 1 year: -4.62%
• 5 years: 171.53%
• 10 years: 933.89%
• 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: 18,300

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

4,671% more repeat investments, than reductions

Existing positions increased: 1,145 | Existing positions reduced: 24

100% more first-time investments, than exits

New positions opened: 413 | Existing positions closed: 207

10% more funds holding

Funds holding: 1,445 [Q3] → 1,589 (+144) [Q4]

9% less capital invested

Capital invested by funds: $81.7B [Q3] → $74.2B (-$7.54B) [Q4]

9.9% less ownership

Funds ownership: 89.52% [Q3] → 79.63% (-9.9%) [Q4]

24% less call options, than puts

Call options by funds: $1.77B | Put options by funds: $2.34B

24% less funds holding in top 10

Funds holding in top 10: 29 [Q3] → 22 (-7) [Q4]

Research analyst outlook

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

• Low target: $75 13% downside
• Avg. target: $92 7% upside
• High target: $125 45% upside

10 analyst ratings

• positive: 6 60%
• neutral: 4 40%
• negative: 0 0%

Susquehanna Mehdi Hosseini 68% 1-year accuracy 27 / 40 met price target	45% upside $125	Positive Upgraded	20 Feb 2025
Mizuho Vijay Rakesh 46% 1-year accuracy 31 / 67 met price target	16% upside $100	Outperform Maintained	20 Feb 2025
Cantor Fitzgerald Matthew Prisco 71% 1-year accuracy 12 / 17 met price target	16% upside $100	Overweight Reiterated	20 Feb 2025
Wells Fargo Joseph Quatrochi 57% 1-year accuracy 13 / 23 met price target	1% downside $85	Equal-Weight Maintained	30 Jan 2025
Needham Charles Shi 31% 1-year accuracy 25 / 81 met price target	5% upside $90	Buy Reiterated	30 Jan 2025