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What smart money is saying about Lam Research CorporationUnited States flag

LRCX · Technology · Semiconductors · Market cap $512.16B

8 funds in our archive have pitched Lam Research Corporation — most recently Baron Opportunity Fund in March 2026.

Company profile

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 conformal films. SABRE products excel in electrochemical deposition, crucial for copper interconnect transitions and enabling copper damascene manufacturing. SOLA utilizes ultraviolet thermal processing for film treatments, while VECTOR delivers plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition (ALD) solutions. Furthermore, SPEED addresses gapfill applications with its high-density plasma CVD products, and Striker is engineered for single-wafer atomic layer deposition of dielectric films. Beyond deposition, Lam Research offers a comprehensive suite of etching tools. Flex is designed for dielectric etch applications, Kiyo handles conductor etch processes, Syndion specializes in through-silicon via etching, and Versys metal products are used for metal etch processes. The company's offerings also extend to specialized solutions like Coronus, which enhances die yield through bevel cleaning. For various wafer cleaning requirements, Lam Research supplies multiple product lines, including Da Vinci, DV-Prime, EOS, and SP series. Additionally, Metryx mass metrology systems provide precise, in-line mass measurement capabilities for semiconductor wafer manufacturing. Lam Research serves the global semiconductor industry, distributing its technologies and services across the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and other international markets. Established in 1980, the company maintains its corporate headquarters in Fremont, California.

Fund coverage · 8 theses

  • Baron Opportunity Fund
    March 2026

    Lam Research is a wafer fabrication equipment leader with AI-driven layer-count tailwinds, switching costs, and recurring revenue.

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  • Baron Technology ETF
    March 2026

    Lam Research Corporation is a leading deposition and etch provider leveraged to rising layer counts, dominant HBM share, and a recovering NAND capex cycle.

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  • Polen Focus Growth
    March 2026

    Lam Research is a semiconductor equipment supplier with high switching costs, stable share, margin expansion, and AI-driven demand visibility.

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  • Baron Durable Advantage Fund
    March 2026

    Lam Research is a leading semiconductor equipment supplier with strong switching costs, recurring revenue, and AI-driven secular tailwinds.

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  • Guinness Global Innovators
    December 2025

    Lam Research Corp is a leading semiconductor equipment maker benefiting from AI-driven capex with strong margins, a sticky services business, and a durable competitive moat.

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  • Heartland Mid Cap Value Fund
    September 2025

    Lam is well-positioned to capitalize on the structurally profitable SemiCap industry, leveraging its dominance in the Etch market and strong relationships with Memory customers to gain market share amid a recent upcycle.

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  • Artisan Global Opportunities Strategy
    June 2025

    Lam Research is a leading semiconductor equipment vendor poised to gain market share as the industry undergoes an equipment upgrade cycle and spending on NAND memory is set to recover.

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  • Vltava fund
    December 2024

    Lam Research is a leading wafer fabrication equipment manufacturer for the semiconductor industry with strong profitability and effective capital allocation through share buybacks.

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