LRCX
LONGINSIDER SELLCONGRESS BUYLAM RESEARCH CORP
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
PositiveLam Research delivered exceptional Q4 FY2026 results with record revenue ($6.72B) and earnings ($1.82 non-GAAP EPS), raising calendar 2026 WFE outlook to low $150B and guiding September quarter revenue to $8.1B (+20% sequential). However, the stock's 62x forward P/E multiple significantly exceeds peers (25x), and a recent Morgan Stanley downgrade signals valuation concerns despite strong fundamentals and 81% analyst buy consensus.
Red flags
- •Valuation at 62x forward P/E, a material premium to semiconductor peers at 25x, creating downside risk if growth decelerates
- •Stock surged 120% in seven months, increasing reversal risk and profit-taking pressure
- •Morgan Stanley lowered price target from $404 to $367 in early August, signaling emerging analyst caution on valuations
- •China revenue concentration risk, though management projects mitigation to <30% of total
Funds Buying (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Coatue Management | Philippe Laffont | 10.0M | +238K | $2.1B | 7.4% | +2% | Existing |
| Third Point | Dan Loeb | 75K | +75K | $16M | 0.8% | — | NEW |
| Point72 | Steve Cohen | 30K | +30K | $6M | <0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where LRCX ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #3 of this fund's book
- 1TAIWAN SEMICONDUCTOR MANUFAC$3,137M
- 2GE VERNOVA INC$2,245M
- 3LAM RESEARCH CORP$2,146M
- 4APPLIED MATLS INC$1,794M
- 5BROADCOM INC$1,703M
- 6EATON CORP PLC$1,698M
position #22 of this fund's book
- 19UNION PAC CORP$24M
- 20STRATA CRITICAL MEDICAL INC$21M
- 21KLA CORP$16M
- 22LAM RESEARCH CORP$16M
- 23ASML HLDG NV$16M
- 24BROADCOM INC$15M
- 25VANECK ETF TRUST$15M
Values are quarter-end position sizes. Shown only for funds where LRCX ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 3 | 3.34 | -30.5% |
| Q1 2026 | LONG | 3 | 3.39 | +36.0% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| ARCHER TIMOTHY | President and CEO | SELL | 30K | $300.00 | $9.00M | 2026-08-06 | ↗ |
| TALWALKAR ABHIJIT Y | — | SELL | 18K | $335.00 | $6.12M | 2026-07-13 | ↗ |
| ARCHER TIMOTHY | President and CEO | SELL | 30K | $390.01 | $11.70M | 2026-07-02 | ↗ |
| BRANDT ERIC | — | SELL | 300 | $355.71 | $0.11M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $357.24 | $0.50M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $357.98 | $0.39M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 4K | $359.08 | $1.37M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $360.15 | $0.69M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 819 | $361.21 | $0.30M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 3K | $362.40 | $0.98M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $363.33 | $0.85M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $364.41 | $0.84M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $365.16 | $0.44M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 6K | $367.01 | $2.13M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 4K | $368.03 | $1.48M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 4K | $369.16 | $1.55M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 5K | $370.27 | $1.87M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 8K | $371.17 | $3.06M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 8K | $372.23 | $2.87M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $373.09 | $0.60M | 2026-06-12 | ↗ |
| BRANDT ERIC | — | SELL | 974 | $337.56 | $0.33M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $338.62 | $0.37M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $339.75 | $0.64M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $340.68 | $0.44M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $341.81 | $0.37M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 4K | $342.91 | $1.25M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $343.96 | $0.51M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 3K | $344.92 | $1.11M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 3K | $345.84 | $0.98M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 3K | $346.79 | $1.19M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 7K | $347.86 | $2.29M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 4K | $348.73 | $1.51M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $349.79 | $0.53M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 36 | $350.77 | $0.01M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $353.52 | $0.41M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $354.08 | $0.52M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $355.50 | $0.47M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $356.27 | $0.59M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 1K | $357.06 | $0.52M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $358.22 | $0.67M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 780 | $359.24 | $0.28M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 664 | $360.24 | $0.24M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 2K | $361.05 | $0.63M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 3K | $362.20 | $0.94M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 6K | $362.95 | $2.07M | 2026-06-11 | ↗ |
| BRANDT ERIC | — | SELL | 642 | $364.00 | $0.23M | 2026-06-11 | ↗ |
| Fernandes Neil J | Senior Vice President | SELL | 8K | $309.60 | $2.37M | 2026-06-01 | ↗ |
| Fernandes Neil J | Senior Vice President | SELL | 18K | $255.14 | $4.64M | 2026-05-01 | ↗ |
| Harter Ava | Chief Legal Officer | SELL | 6K | $258.66 | $1.55M | 2026-04-27 | ↗ |
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Alan Armstrong | senate | — | BUY | $1,001 - $15,000 | 2026-03-27 | 2026-07-21 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.