Lam Research Corporation
LRCX Technology Semiconductor Equipment & Materials
Lam Research Corporation’s revenue for fiscal 2026 (year ended June 2026) was $23.2 billion, up 26.0% from fiscal 2025. In the quarter to June 2026, revenue grew 30.0%, EPS grew 34.8%, free cash flow fell 46.8% and total debt fell 16.7%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for three consecutive years.
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Lam Research Corporation 10-K filed Aug 7, 2026
Red flags
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Auditor change
Lam Research Corporation reported a change of its independent auditor
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Receivables outpacing revenue
Receivables grew 58.1% while revenue grew 26.0% year over year
What changed
Item 1, Business, against the 10-K filed Aug 11, 2025: 9 added · 4 removed · 30 modified; 5 with only figures updated; 1 moved without change
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Removed
Demand from cloud computing (the “Cloud”), artificial intelligence, 5G, the Internet of Things (“IoT”), and other markets is driving the need for increasingly powerful and cost-efficient semiconductors. At the same time, there are growing technical challenges with traditional two-dimensional scaling. These trends are driving significant inflections in semiconductor manufacturing, such as the increasing importance of vertical scaling strategies like three-dimensional (“3D”) architecture as well as multiple patterning to enable shrinks.
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