LRCX

Lam Research Corporation

Technology · $338.7B market cap

Share price

$347.49

close of Oct 3, 2026

Fair value

$142.81

Sticker Price

Payback Price

$57.12

buy price

Overpriced

LRCX is Overpriced: at $347.49 it trades 143% above its fair value of $142.81. Its buy price (Payback Price) is $57.12, 84% below today's price. Business quality is strong: all 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

5 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth18.3% a year✓

Equity per share growth10.9% a year✓

Sales growth14.3% a year✓

Free cash flow growth15.5% a year✓

Return on invested capital33.3%✓

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Superinvestors

7 of the investors we track hold LRCX. In Q2 2026, 4 opened a position, 2 trimmed and 1 sold out. Who we track

Chase Coleman

Tiger Global Management · as of Q2 2026

$1.4B

3,163,495 shares

Polen Capital Management

Polen Capital Management · as of Q2 2026

$372.2M

859,036 shares

David Tepper

Appaloosa Management · as of Q2 2026

$165.7M

382,500 shares

Lee Ainslie

Maverick Capital · as of Q2 2026

$1.8M

4,083 shares

Sarah Ketterer

Causeway Capital Management · as of Q2 2026

$354K

816 shares

Show all 7 holders

Mairs & Power Funds

Mairs & Power Funds · as of Q2 2026

$331K

765 shares

Steven Check

Check Capital Management · as of Q2 2026

$217K

500 shares

Moves in Q2 2026

New position: Steven Check, Sarah Ketterer, Mairs & Power Funds, Lee Ainslie

Trimmed: Polen Capital Management, Chase Coleman

Sold out: Daniel Loeb

Insider activity

Since Jun 11, 2026: no open-market purchases, 50 sales worth $88.1M and 6 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

Mayer Bethany

director · 2026-09-09

Sold

$3.0M

ARCHER TIMOTHY

President and CEO · 2026-09-09

Sold

$9.6M

Varadarajan Seshasayee

Senior Vice President · 2026-09-02

Sold

$8.0M

Harter Ava

Chief Legal Officer · 2026-08-31

Sold

$1.5M

ARCHER TIMOTHY

President and CEO · 2026-08-06

Sold

$9.0M

Show all 50 sales

TALWALKAR ABHIJIT Y

director · 2026-07-13

Sold

$6.1M

ARCHER TIMOTHY

President and CEO · 2026-07-02

Sold

$11.7M

BRANDT ERIC

director · 2026-06-12

Sold

$597K

BRANDT ERIC

director · 2026-06-12

Sold

$2.9M

BRANDT ERIC

director · 2026-06-12

Sold

$3.1M

BRANDT ERIC

director · 2026-06-12

Sold

$1.9M

BRANDT ERIC

director · 2026-06-12

Sold

$1.5M

BRANDT ERIC

director · 2026-06-12

Sold

$1.5M

BRANDT ERIC

director · 2026-06-12

Sold

$2.1M

BRANDT ERIC

director · 2026-06-12

Sold

$438K

BRANDT ERIC

director · 2026-06-12

Sold

$838K

BRANDT ERIC

director · 2026-06-12

Sold

$852K

BRANDT ERIC

director · 2026-06-12

Sold

$981K

BRANDT ERIC

director · 2026-06-12

Sold

$296K

BRANDT ERIC

director · 2026-06-12

Sold

$686K

BRANDT ERIC

director · 2026-06-12

Sold

$1.4M

BRANDT ERIC

director · 2026-06-12

Sold

$394K

BRANDT ERIC

director · 2026-06-12

Sold

$498K

BRANDT ERIC

director · 2026-06-12

Sold

$107K

BRANDT ERIC

director · 2026-06-11

Sold

$234K

BRANDT ERIC

director · 2026-06-11

Sold

$2.1M

BRANDT ERIC

director · 2026-06-11

Sold

$943K

BRANDT ERIC

director · 2026-06-11

Sold

$634K

BRANDT ERIC

director · 2026-06-11

Sold

$239K

BRANDT ERIC

director · 2026-06-11

Sold

$280K

BRANDT ERIC

director · 2026-06-11

Sold

$673K

BRANDT ERIC

director · 2026-06-11

Sold

$520K

BRANDT ERIC

director · 2026-06-11

Sold

$589K

BRANDT ERIC

director · 2026-06-11

Sold

$473K

BRANDT ERIC

director · 2026-06-11

Sold

$517K

BRANDT ERIC

director · 2026-06-11

Sold

$414K

BRANDT ERIC

director · 2026-06-11

Sold

$13K

BRANDT ERIC

director · 2026-06-11

Sold

$531K

BRANDT ERIC

director · 2026-06-11

Sold

$1.5M

BRANDT ERIC

director · 2026-06-11

Sold

$2.3M

BRANDT ERIC

director · 2026-06-11

Sold

$1.2M

BRANDT ERIC

director · 2026-06-11

Sold

$979K

BRANDT ERIC

director · 2026-06-11

Sold

$1.1M

BRANDT ERIC

director · 2026-06-11

Sold

$509K

BRANDT ERIC

director · 2026-06-11

Sold

$1.2M

BRANDT ERIC

director · 2026-06-11

Sold

$366K

BRANDT ERIC

director · 2026-06-11

Sold

$435K

BRANDT ERIC

director · 2026-06-11

Sold

$644K

BRANDT ERIC

director · 2026-06-11

Sold

$367K

BRANDT ERIC

director · 2026-06-11

Sold

$329K

Other filings

ARCHER TIMOTHY

President and CEO · 2026-09-09

Option exercise

$901K

Varadarajan Seshasayee

Senior Vice President · 2026-09-02

Option exercise

$825K

Varadarajan Seshasayee

Senior Vice President · 2026-09-02

Option exercise

$735K

ARCHER TIMOTHY

President and CEO · 2026-08-06

Option exercise

$901K

Harter Ava

Chief Legal Officer · 2026-08-05

Tax withholding

$1.8M

Show all 6 other filings

ARCHER TIMOTHY

President and CEO · 2026-07-02

Option exercise

$901K

About Lam Research Corporation

Lam Research Corporation is a prominent supplier of equipment vital for semiconductor processing, encompassing its design, production, sales, repair, and ongoing maintenance. These sophisticated systems are fundamental for the creation of integrated circuits. The company's extensive product catalog features a variety of deposition technologies. For tungsten metallization, they provide ALTUS systems that deposit…

Semiconductors

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works

Verdict

How we valued it

Business quality

Superinvestors

Insider activity

Sales

Other filings

About Lam Research Corporation