← Holdings
LRCX

Lam Research Corporation

3 managers · $892M total
Data: SEC EDGAR 13F · 2026Q2
Manager holders · last 5 qtrsⓘ
3
2025Q2 – 2026Q2 · -1 QoQ
Total position
$892M
Combined value across tracked managers
Net move this quarter
↑ Adding
Weighted by holders' share change
HolderQ actionValue% of port.Style
SandsⓘAdd+50.15%$491M1.82%High-conviction growth / Innovation-led
PolenⓘTrim-18.54%$372M3.21%Quality growth / GARP concentrated
HoskingⓘAdd+3.04%$29M1.02%Contrarian value / Global diversified
What managers sayⓘ
2026-10-08Baillie GiffordBullLam and Alnylam: time well spentDetail →
2026-04-23Colossus (Invest Like the Best / Business Breakdowns)BullDylan Patel - The Infinite Demand for Tokens, Claude Mythos, and Supply Constraints - [Invest Like the Best, EP.469]Detail →
2026-04-20Hosking PartnersBullQ1 2026 - Quarterly Report CommentaryDetail →
2023-11-22Colossus (Invest Like the Best / Business Breakdowns)NeutralEntegris: Solutions for Semiconductors - [Business Breakdowns, EP.137]Detail →
2023-07-05Colossus (Invest Like the Best / Business Breakdowns)NeutralApplied Materials: Sanding Atoms - [Business Breakdowns, EP.118]Detail →
2021-03-09Colossus (Invest Like the Best / Business Breakdowns)BullJosh Wolfe and Tony Thomas - The Past, Present, and Future of Defense – [Invest Like the Best, EP. 216]Detail →
Earnings Callsⓘ
Q1 2026October 21, 2026
›
### At a Glance Lam Research Q1 2026 results: Fifth consecutive quarter of record revenue. Management cited strong execution, with revenue, gross margin, operating margin, and EPS all reaching all-time highs.
Key Data: September quarter revenue of $8.22 billion, up 54% year-over-year and 22% sequentially. Gross margin of 52.4% was a record, and operating margin of 40.2% surpassed 40% for the first time. EPS of $2.20 was a record.
Business Progress: Memory systems revenue accounted for 46% of total, with NAND revenue up approximately 40% sequentially as the industry continues transitioning to 256+ layer equipment; the report notes that 384-layer equipment has begun to be deployed. DRAM revenue was also a record, driven by high-bandwidth memory. Foundry revenue was also a record, rising to 46% of total, supported by investments in advanced nodes and advanced packaging. Customer support business posted a fourth consecutive quarter of record revenue, approaching $2.5 billion. China revenue accounted for 35%, up sequentially, but is expected to decline significantly in the next quarter.
Guidance & Outlook: December quarter revenue guided at $8.6 billion ± $400 million, gross margin at 52.5% ± 1 percentage point, and EPS at $2.33 ± $0.15. Management noted that without short-term supply chain constraints, the revenue guidance would have been higher. The 2027 WFE outlook is over $200 billion, but management described this as a constrained figure.
Risk/Highlight Signals: Management emphasized that regardless of how device architectures evolve, etch and deposition intensity will continue to increase, and Lam sees growth opportunities across all equipment types. The NAND upgrade cycle still has room to run and is expected to continue into 2027. Advanced packaging revenue is expected to grow 70% this year and continue strong growth next year.
Q4 2026August 7, 2026
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FinancialsⓘFY2025 · Source: SEC EDGAR 10-K

5y revenue CAGR 6% · latest net margin 29.1% · FCF consistently positive

Revenue$18.4B
Rev. YoY+23.7%
Gross margin48.7%
Net margin29.1%
Net income$5.36B
Free cash flow$5.41B
Operating cash flow$6.17B
ROE54.3%

Source: SEC EDGAR company filings (10-K). Foreign issuers (20-F/IFRS) not yet covered.