Lam Research Corporation (LRCX)
Technology · Semiconductors · Data as of 2026-10-22
Bottom line
LRCX is trading near its usual valuation, in the middle of its recent price range, and recent volume suggests money flowing out. The picture is mixed, so it may be worth watching rather than acting on. Past patterns are not a guarantee of future results.
Valuation — Priced about in line with its growth (Yellow)
For a fast-growing company like LRCX (revenue is growing about 26% a year), we weigh next year's expected P/E of 24× against the 26% earnings growth analysts expect (a forward PEG of 0.91, 22 estimates). That alone would read as cheap, but against its own last five years the multiple is high, so we call the price about in line with the growth. Its current multiple sits around the 81st percentile of its own last five years — toward the high end of its own range.
Price zones — In the middle of its recent range (Yellow)
At $230.15, the stock sits between its recent support and resistance levels. Over the past year LRCX has traded between $135.50 and $438.50; its historical support zone sits near $135.50 and resistance near $283.29. It is below both its 50- and 200-day averages, which has historically signalled a downtrend.
52-week range $135.50–$438.50 · 50-day average $304.53 · 200-day average $283.29
Money flow — Money is flowing out (Red)
Recent trading in LRCX shows more volume on falling days than rising days, a pattern often described as distribution. Volume on up days has been about 0.6× volume on down days over the last 30 sessions.
Dividends & company facts
LRCX paid $1.11 a share in dividends over the past year — 0.48% of today's price — and has raised it in each of the last five years. It returned more through buybacks: $3.8 billion in fiscal 2026, about 1.2% of its market value.
- Dividend yield (12 months)
- 0.48%
- Paid over 12 months
- $1.11 a share
- Payout ratio
- 15.4%
- Buybacks
- 1.17% (fiscal 2026)
- Shares, past year
- -1.1%
- Revenue, 12 months
- $26.1B
- Profit, 12 months
- $8.4B
- Employees
- 23,300
- CEO
- Timothy Archer
- Headquarters
- Fremont, CA
- Listed since
- 1984 · NASDAQ
About the company
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.
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一句话结论
LRCX 估值接近其惯常水平，处于近期价格区间的中部，近期成交量显示资金正在流出。整体情况好坏参半，也许更适合先观察，而不是急于行动。过去的形态并不能保证未来的结果。
估值 — 价格与其增长大致相称
对 LRCX 这样的高增长公司（营收年增长约 26%），我们把它明年的预期市盈率 24× 与分析师预计的 26% 盈利增速放在一起看（前瞻 PEG 为 0.91，来自 22 份预测）。单看这一点会显得便宜，但与它自身过去五年相比，估值倍数偏高，所以我们认为价格与增长大致相称。它当前的估值倍数大约位于自身过去五年分布的第 81 百分位——处于自身区间的偏高位置。
价格区间 — 处于近期区间的中部
目前价格为 $230.15，位于其近期的支撑位与阻力位之间。过去一年 LRCX 的价格在 $135.50 到 $438.50 之间波动；其历史支撑区在 $135.50 附近，阻力区在 $283.29 附近。它同时位于 50 日和 200 日均线下方，这在历史上通常对应下降趋势。
资金流向 — 资金正在流出
LRCX 近期下跌日的成交量高于上涨日，这种形态常被称为派发。过去 30 个交易日，上涨日的成交量约为下跌日的 0.6×。
股息与公司概况
LRCX 过去一年每股派息 1.11 美元，相当于当前股价的 0.48%，过去五年每年都有上调。它通过回购返还了更多：2026 财年回购 38.3亿美元，约占市值的 1.2%。
UnderTheLight 用直白的语言解释股票——估值、价格区间与资金流向。它只描述数据，不构成任何投资建议。
UnderTheLight explains stocks in plain English — valuation, price zones and money flow as traffic lights, recomputed nightly. It describes data; it is not investment advice and never recommends a trade.