8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

 Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 19, 2023

  LAM RESEARCH CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	0-12933	94-2634797
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

4650 Cushing Parkway

Fremont, California 94538

(Address of principal executive offices including zip code)

(510) 572-0200

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, Par Value $0.001 Per Share	LRCX	The Nasdaq Stock Market
		(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company      ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                      ☐

Table of Contents

Item 2.02.	Results of Operations and Financial Condition	3
Item 9.01.	Financial Statements and Exhibits	3
SIGNATURES		4
EX-99.1

 Item 2.02. Results of Operations and Financial Condition

On April 19, 2023, Lam Research Corporation (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 26, 2023, the text of which is attached hereto as Exhibit 99.1.

The information in this item of this Current Report on Form 8-K, including Exhibit 99.1, is furnished pursuant to Item 2.02 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. Furthermore, the information in this item of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act.

 Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1	Press Release dated April 19, 2023 announcing financial results for the fiscal quarter ended March 26, 2023
104	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:	April 19, 2023	LAM RESEARCH CORPORATION
		(Registrant)
		/s/ Douglas R. Bettinger
		Douglas R. Bettinger
		Executive Vice President, Chief Financial Officer
		(Principal Financial Officer)

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Lam Research Corporation Reports Financial Results for the Quarter Ended March 26, 2023

FREMONT, Calif., April 19, 2023 - Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended March 26, 2023 (the “March 2023 quarter”).

Highlights for the March 2023 quarter were as follows:

•Revenue of $3.87 billion.

•U.S. GAAP gross margin of 41.5%, U.S. GAAP operating income as a percentage of revenue of 24.4%, and U.S. GAAP diluted EPS of $6.01.

•Non-GAAP gross margin of 44.0%, non-GAAP operating income as a percentage of revenue of 28.3%, and non-GAAP diluted EPS of $6.99.

Key Financial Data for the Quarters Ended

March 26, 2023 and December 25, 2022

(in thousands, except per-share data, percentages, and basis points)

U.S. GAAP
	March 2023			December 2022			Change Q/Q
Revenue	$	3,869,569		$	5,277,569		- 26.7%
Gross margin as percentage of revenue	41.5		%	45.0		%	- 350 bps
Operating income as percentage of revenue	24.4		%	31.8		%	- 740 bps
Diluted EPS	$	6.01		$	10.77		- 44.2%
Non-GAAP
	March 2023			December 2022			Change Q/Q
Revenue	$	3,869,569		$	5,277,569		- 26.7%
Gross margin as percentage of revenue	44.0		%	45.1		%	- 110 bps
Operating income as percentage of revenue	28.3		%	32.1		%	- 380 bps
Diluted EPS	$	6.99		$	10.71		- 34.7%

U.S. GAAP Financial Results

For the March 2023 quarter, revenue was $3,870 million, gross margin was $1,606 million, or 41.5% of revenue, operating expenses were $663 million, operating income was 24.4% of revenue, and net income was $814 million, or $6.01 per diluted share on a U.S. GAAP basis. This compares to revenue of $5,278 million, gross margin of $2,376 million, or 45.0% of revenue, operating expenses of $696 million, operating income of 31.8% of revenue, and net income of $1,469 million, or $10.77 per diluted share, for the quarter ended December 25, 2022 (the “December 2022 quarter”).

Non-GAAP Financial Results

For the March 2023 quarter, non-GAAP gross margin was $1,704 million, or 44.0% of revenue, non-GAAP operating expenses were $608 million, non-GAAP operating income was 28.3% of revenue, and non-GAAP net income was $946 million, or $6.99 per diluted share. This compares to non-GAAP gross margin of $2,382 million, or 45.1% of revenue, non-GAAP operating expenses of $686 million, non-GAAP operating income of 32.1% of revenue, and non-GAAP net income of $1,461 million, or $10.71 per diluted share, for the December 2022 quarter.

“Lam delivered solid March quarter performance, including record foundry-related revenues,” said Tim Archer, Lam Research’s President and Chief Executive Officer. “With lower wafer fabrication equipment spending in 2023, we are focused on managing costs while making strategic investments for critical manufacturing inflections. Our differentiated solutions and strong installed base business place Lam in an excellent position to outperform when WFE growth resumes.”

Balance Sheet and Cash Flow Results

Cash and cash equivalents, short-term investments, and restricted cash and investments balances increased to $5.6 billion at the end of the March 2023 quarter compared to $4.8 billion at the end of the December 2022 quarter. This increase was primarily the result of $1,726 million of cash generated from operating activities, partially offset by $582 million of share repurchases, including net share settlement of employee stock-based compensation; $234 million of dividends paid to stockholders; and $119 million of capital expenditures.

Deferred revenue at the end of the March 2023 quarter increased to $2,003 million compared to $1,984 million as of the end of the December 2022 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $212 million as of March 26, 2023 and $379 million as of December 25, 2022.

Revenue

The geographic distribution of revenue during the March 2023 quarter is shown in the following table:

Region	Revenue
Korea	22%
China	22%
Taiwan	18%
United States	16%
Japan	10%
Europe	8%
Southeast Asia	4%

The following table presents revenue disaggregated between system and customer support-related revenue:

	Three Months Ended
	March 26, 2023		December 25, 2022		March 27, 2022
	(In thousands)
System revenue	$	2,256,033	$	3,547,518	$	2,650,842
Customer support-related revenue and other	1,613,536		1,730,051		1,409,574
	$	3,869,569	$	5,277,569	$	4,060,416

System revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ended June 25, 2023, Lam is providing the following guidance:

	U.S. GAAP			Reconciling Items			Non-GAAP
Revenue	$3.1 Billion	+/-	$300 Million	—			$3.1 Billion	+/-	$300 Million
Gross margin as a percentage of revenue	43.2%	+/-	1%	$	26	Million	44.0%	+/-	1%
Operating income as a percentage of revenue	24.3%	+/-	1%	$	36	Million	25.5%	+/-	1%
Net income per diluted share	$4.75	+/-	$0.75	$	33	Million	$5.00	+/-	$0.75
Diluted share count	134 million			—			134 million

The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or recognized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:

•Gross margin as a percentage of revenue - amortization related to intangible assets acquired through business combinations, $3 million; restructuring charges, $20 million; product rationalization charges, $2 million; and transformational costs, $1 million, totaling $26 million.

•Operating income as a percentage of revenue - amortization related to intangible assets acquired through business combinations, $4 million; restructuring charges, $21 million; transformational costs, $9 million; and product rationalization charges, $2 million; totaling $36 million.

•Net income per diluted share - amortization related to intangible assets acquired though business combinations, $4 million; amortization of note discounts, restructuring charges, $21 million; transformational costs, $9 million; product rationalization charges, $2 million; amortization of debt discounts, $1 million; and associated tax benefit for non-GAAP items ($4 million); totaling $33 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the March 2023 and December 2022 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. Additionally, the non-GAAP results for the March 2023 quarter exclude net restructuring charges, product rationalization charges, and transformational costs; and Non-GAAP results for the December 2022 quarter excluded a net income tax benefit associated with legal entity restructuring.

Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company’s operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company’s website at https://investor.lamresearch.com.

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; our expectations for wafer fabrication equipment spending and growth; our management of costs; our investments; the differentiation of our solutions; the strength of our installed base business; and our performance relative to our industry. Some factors that may affect these forward-looking statements include: trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; supply chain cost increases and other inflationary pressures have impacted and are expected to continue to impact our profitability; supply chain disruptions have limited and are expected to continue to limit our ability to meet demand for our products; the severity, magnitude and duration of the COVID–19 pandemic (and the related governmental, public health, business and community responses to it), and their impacts on our business, results of operations and financial condition, are evolving and are highly uncertain and unpredictable; and widespread outbreaks of illness may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10–K for the fiscal year ended June 26, 2022 and our quarterly report on Form 10-Q for the fiscal quarter ended December 25, 2022. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX-F)

Consolidated Financial Tables Follow.

###

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data and percentages)

(unaudited)

	Three Months Ended									Nine Months Ended
	March 26, 2023			December 25, 2022			March 27, 2022			March 26, 2023			March 27, 2022
Revenue	$	3,869,569		$	5,277,569		$	4,060,416		$	14,221,259		$	12,591,485
Cost of goods sold	2,197,237			2,901,220			2,243,791			7,835,743			6,820,190
Restructuring charges, net - cost of goods sold	66,720			—			—			66,720			—
Total cost of goods sold	2,263,957			2,901,220			2,243,791			7,902,463			6,820,190
Gross margin	1,605,612			2,376,349			1,816,625			6,318,796			5,771,295
Gross margin as a percent of revenue	41.5		%	45.0		%	44.7		%	44.4		%	45.8		%
Research and development	429,451			462,385			407,120			1,325,211			1,193,091
Selling, general and administrative	193,500			233,802			217,408			632,922			675,735
Restructuring charges, net - operating expenses	40,408			—			—			40,408			—
Total operating expenses	663,359			696,187			624,528			1,998,541			1,868,826
Operating income	942,253			1,680,162			1,192,097			4,320,255			3,902,469
Operating income as a percent of revenue	24.4		%	31.8		%	29.4		%	30.4		%	31.0		%
Other income (expense), net	(3,331)			(28,234)			(57,402)			(74,660)			(68,260)
Income before income taxes	938,922			1,651,928			1,134,695			4,245,595			3,834,209
Income tax expense	(124,914)			(183,421)			(112,917)			(537,201)			(437,857)
Net income	$	814,008		$	1,468,507		$	1,021,778		$	3,708,394		$	3,396,352
Net income per share:
Basic	$	6.03		$	10.80		$	7.34		$	27.28		$	24.17
Diluted	$	6.01		$	10.77		$	7.30		$	27.20		$	24.02
Number of shares used in per share calculations:
Basic	134,924			136,018			139,229			135,945			140,534
Diluted	135,395			136,339			140,057			136,314			141,400
Cash dividend declared per common share	$	1.725		$	1.725		$	1.50		$	5.175		$	4.50

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

	March 26, 2023		December 25, 2022		June 26, 2022
	(unaudited)		(unaudited)		(1)
ASSETS
Cash and cash equivalents	$	5,305,648	$	4,484,716	$	3,522,001
Investments	63,849		103,130		135,731
Accounts receivable, net	3,262,140		4,070,088		4,313,818
Inventories	4,881,935		4,819,966		3,966,294
Prepaid expenses and other current assets	216,455		230,888		347,391
Total current assets	13,730,027		13,708,788		12,285,235
Property and equipment, net	1,855,117		1,863,155		1,647,587
Restricted cash and investments	250,688		251,344		251,534
Goodwill and intangible assets	1,801,819		1,805,218		1,616,963
Other assets	1,605,710		1,577,876		1,394,313
Total assets	$	19,243,361	$	19,206,381	$	17,195,632
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt and finance lease obligations	$	8,457	$	7,226	$	7,381
Other current liabilities	4,432,872		4,539,696		4,557,378
Total current liabilities	4,441,329		4,546,922		4,564,759
Long-term debt and finance lease obligations	4,996,920		4,996,057		4,998,449
Income taxes payable	885,348		862,405		931,117
Other long-term liabilities	512,376		496,362		422,941
Total liabilities	10,835,973		10,901,746		10,917,266
Stockholders’ equity (2)	8,407,388		8,304,635		6,278,366
Total liabilities and stockholders’ equity	$	19,243,361	$	19,206,381	$	17,195,632

(1)	Derived from audited financial statements.
(2)	Common shares issued and outstanding were 134,692 as of March 26, 2023, 135,403 as of December 25, 2022, and 136,975 as of June 26, 2022.

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

	Three Months Ended						Nine Months Ended
	March 26, 2023		December 25, 2022		March 27, 2022		March 26, 2023		March 27, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	814,008	$	1,468,507	$	1,021,778	$	3,708,394	$	3,396,352
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	91,663		85,414		84,228		252,828		245,807
Deferred income taxes	7,195		(6,680)		(56,878)		(133,101)		(83,451)
Equity-based compensation expense	73,911		73,084		68,543		218,105		189,476
Other, net	1,559		12,729		(3,121)		11,537		(78,325)
Changes in operating assets and liabilities	738,102		(492,867)		(356,840)		(1,550)		(1,014,119)
Net cash provided by operating activities	1,726,438		1,140,187		757,710		4,056,213		2,655,740
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures and intangible assets	(119,457)		(163,378)		(145,368)		(422,898)		(420,288)
Business acquisitions, net of cash acquired	—		(119,955)		—		(119,955)		—
Net maturities and sales of available-for-sale securities	39,414		17,743		79,184		71,852		1,142,398
Other, net	(4,289)		(1,657)		(28,380)		(8,381)		(33,898)
Net cash (used for) provided by investing activities	(84,332)		(267,247)		(94,564)		(479,382)		688,212
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on debt	(2,209)		(17,082)		(1,821)		(21,145)		(9,857)
Treasury stock purchases	(581,943)		(456,276)		(1,338,006)		(1,147,998)		(2,989,574)
Dividends paid	(233,977)		(235,980)		(210,587)		(675,572)		(607,234)
Reissuance of treasury stock related to employee stock purchase plan	—		44,996		—		44,996		46,380
Proceeds from issuance of common stock	—		877		492		7,673		4,685
Other, net	(1,399)		1,253		214		(635)		197
Net cash used for financing activities	(819,528)		(662,212)		(1,549,708)		(1,792,681)		(3,555,403)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(2,302)		17,878		(5,090)		(1,349)		(13,544)
Net increase (decrease) in cash, cash equivalents, and restricted cash	820,276		228,606		(891,652)		1,782,801		(224,995)
Cash, cash equivalents, and restricted cash at beginning of period	4,736,060		4,507,454		5,337,407		3,773,535		4,670,750
Cash, cash equivalents, and restricted cash at end of period	$	5,556,336	$	4,736,060	$	4,445,755	$	5,556,336	$	4,445,755

Non-GAAP Financial Summary

(in thousands, except percentages and per share data)

(unaudited)

	Three Months Ended
	March 26, 2023			December 25, 2022
Revenue	$	3,869,569		$	5,277,569
Gross margin	$	1,704,323		$	2,381,723
Gross margin as percentage of revenue	44.0		%	45.1		%
Operating expenses	$	607,620		$	686,348
Operating income	$	1,096,703		$	1,695,375
Operating income as a percentage of revenue	28.3		%	32.1		%
Net income	$	946,483		$	1,460,575
Net income per diluted share	$	6.99		$	10.71
Shares used in per share calculation - diluted	135,395			136,339

Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income

(in thousands, except per share data)

(unaudited)

	Three Months Ended
	March 26, 2023		December 25, 2022
U.S. GAAP net income	$	814,008	$	1,468,507
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations - cost of goods sold	3,093		2,521
Elective deferred compensation ("EDC") related liability valuation increase - cost of goods sold	1,498		2,853
Restructuring charges, net - cost of goods sold	66,720		—
Product rationalization - cost of goods sold	26,842		—
Transformational costs - cost of goods sold	558		—
EDC related liability valuation increase - research and development	2,697		5,136
Product rationalization - research and development	3,858		—
Amortization related to intangible assets acquired through certain business combinations - selling, general and administrative	1,395		1,279
EDC related liability valuation increase - selling, general and administrative	1,798		3,424
Product rationalization - selling, general and administrative	2,891		—
Transformational costs - selling, general and administrative	2,692		—
Restructuring charges, net- operating expenses	40,408		—
Amortization of note discounts - other income (expense), net	718		712
Gain on EDC related asset - other income (expense), net	(5,443)		(10,871)
Net income tax benefit on non-GAAP items	(17,250)		(1,213)
Net income tax benefit associated with legal entity restructuring	—		(11,773)
Non-GAAP net income	$	946,483	$	1,460,575
Non-GAAP net income per diluted share	$	6.99	$	10.71
U.S. GAAP net income per diluted share	$	6.01	$	10.77
U.S. GAAP and non-GAAP number of shares used for per diluted share calculation	135,395		136,339

Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin, Operating Expenses and Operating Income

(in thousands, except percentages)

(unaudited)

	Three Months Ended
	March 26, 2023			December 25, 2022
U.S. GAAP gross margin	$	1,605,612		$	2,376,349
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations	3,093			2,521
EDC related liability valuation increase	1,498			2,853
Restructuring charges, net	66,720			—
Product rationalization	26,842			—
Transformational costs	558			—
Non-GAAP gross margin	$	1,704,323		$	2,381,723
U.S. GAAP gross margin as a percentage of revenue	41.5		%	45.0		%
Non-GAAP gross margin as a percentage of revenue	44.0		%	45.1		%
U.S. GAAP operating expenses	$	663,359		$	696,187
Pre-tax non-GAAP items:
Amortization related to intangible assets acquired through certain business combinations	(1,395)			(1,279)
EDC related liability valuation increase	(4,495)			(8,560)
Restructuring charges, net	(40,408)			—
Product rationalization	(6,749)			—
Transformational costs	(2,692)			—
Non-GAAP operating expenses	$	607,620		$	686,348
U.S. GAAP operating income	$	942,253		$	1,680,162
Non-GAAP operating income	$	1,096,703		$	1,695,375
U.S. GAAP operating income as percent of revenue	24.4		%	31.8		%
Non-GAAP operating income as a percent of revenue	28.3		%	32.1		%

Lam Research Corporation Contacts:

Tina Correia, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com

XML

Cover page	Apr. 19, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Apr. 19, 2023
Entity Registrant Name	LAM RESEARCH CORPORATION
Entity Incorporation, State or Country Code	DE
Entity File Number	0-12933
Entity Tax Identification Number	94-2634797
Entity Address, Address Line One	4650 Cushing Parkway
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94538
City Area Code	510
Local Phone Number	572-0200
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, Par Value $0.001 Per Share
Trading Symbol	LRCX
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000707549