Lam Research Files 2024 Annual Report
Ticker: LRCX · Form: 10-K · Filed: 2024-08-29T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, annual-report, semiconductor
Related Tickers: LRCX
TL;DR
LRCX dropped its 2024 10-K. All the deets on revenue, debt, and future outlook.
AI Summary
Lam Research Corporation (LRCX) filed its 10-K for the fiscal year ending June 30, 2024. The company, headquartered in Fremont, CA, reported its financial performance and business operations. Key financial data and operational details are disclosed in this comprehensive annual filing.
Why It Matters
This filing provides investors and analysts with a detailed overview of Lam Research's financial health, strategic initiatives, and risks for the past fiscal year, crucial for investment decisions.
Risk Assessment
Risk Level: medium — The filing contains standard disclosures for a public company, but the semiconductor industry is subject to cyclicality and geopolitical risks.
Key Players & Entities
- LAM RESEARCH CORP (company) — Filer
- 20240630 (date) — Fiscal Year End
- FREMONT (location) — Business Address City
- CA (location) — Business Address State
- 94538 (postal_code) — Business Address Zip
- 5106590200 (phone_number) — Business Phone
FAQ
What is Lam Research Corporation's primary business?
Lam Research Corporation is primarily involved in the semiconductor equipment manufacturing industry, as indicated by its SIC code 3559 (SPECIAL INDUSTRY MACHINERY, NEC).
Where is Lam Research Corporation headquartered?
Lam Research Corporation is headquartered in Fremont, CA, with a business address at 4650 Cushing Blvd, Fremont, CA 94538.
What is the fiscal year end for Lam Research Corporation?
The fiscal year end for Lam Research Corporation is June 30, as indicated by the 'CONFORMED PERIOD OF REPORT: 20240630'.
What is the SEC file number for Lam Research Corporation's 10-K filing?
The SEC file number for Lam Research Corporation's 10-K filing is 000-12933.
When was this 10-K filing submitted?
This 10-K filing was submitted on August 29, 2024, as indicated by the accession number and filing date.
Filing Stats: 4,334 words · 17 min read · ~14 pages · Grade level 16.5 · Accepted 2024-08-29 14:10:55
Key Financial Figures
- $0.001 — ich registered Common Stock, Par Value $0.001 Per Share LRCX The Nasdaq Stock Market
Filing Documents
- lrcx-20240630.htm (10-K) — 1924KB
- exhibit1026executivesevera.htm (EX-10.26) — 166KB
- exhibit1027executivechange.htm (EX-10.27) — 127KB
- exhibit1038non-employeedir.htm (EX-10.38) — 22KB
- exhibit191insidertradingpo.htm (EX-19.1) — 120KB
- exhibit21june2024.htm (EX-21) — 22KB
- exhibit23june2024.htm (EX-23) — 5KB
- exhibit311june2024.htm (EX-31.1) — 9KB
- exhibit312june2024.htm (EX-31.2) — 9KB
- exhibit321june2024.htm (EX-32.1) — 5KB
- exhibit322june2024.htm (EX-32.2) — 5KB
- exhibit971policyforrecover.htm (EX-97.1) — 40KB
- lrcx-20240630_g1.jpg (GRAPHIC) — 113KB
- lrcx_logo.jpg (GRAPHIC) — 9KB
- 0000707549-24-000106.txt ( ) — 11756KB
- lrcx-20240630.xsd (EX-101.SCH) — 75KB
- lrcx-20240630_cal.xml (EX-101.CAL) — 143KB
- lrcx-20240630_def.xml (EX-101.DEF) — 286KB
- lrcx-20240630_lab.xml (EX-101.LAB) — 973KB
- lrcx-20240630_pre.xml (EX-101.PRE) — 662KB
- lrcx-20240630_htm.xml (XML) — 1577KB
Business
Item 1. Business 3
Risk Factors
Item 1A. Risk Factors 12
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 24
C ybersecurity
Item 1C. C ybersecurity 25
Properties
Item 2. Properties 26
Legal Proceedings
Item 3. Legal Proceedings 26
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 26 Part II.
Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27
[ Reserved ]
Item 6. [ Reserved ] 29
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 29
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 36
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 37
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 72
Controls and Procedures
Item 9A. Controls and Procedures 72
Other Information
Item 9B. Other Information 72
Disclosure Regarding Foreign Jurisdictions that Prevent Inspection
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 73 Part III.
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 74
Executive Compensation
Item 11. Executive Compensation 74
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 74
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 74
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 74 Part IV.
Exhibits, Financial Statement Schedules
Item 15. Exhibits, Financial Statement Schedules 75
Form 10-K Summary
Item 16. Form 10-K Summary 75 Exhibit Index 76
Signatures
Signatures 79 Lam Research Corporation 2024 10-K 2 Table of Content PART I CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS With the exception of historical facts, the statements contained in this discussion are forward-looking statements, which are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Certain, but not all, of the forward-looking statements in this report are specifically identified as forward-looking, by use of phrases and words such as "believe," "estimated," "anticipate," "expect," "probable," "intend," "plan," "aim," "may," "should," "could," "would," "will," "continue," and other future-oriented terms. The identification of certain statements as "forward-looking" does not mean that other statements not specifically identified are not forward-looking. Forward-looking statements include, but are not limited to, statements that relate to: trends and opportunities in the global economic environment; trends and opportunities in the semiconductor industry, including in the end markets and applications for semiconductors, in device complexity, and in the complexity of device manufacturing; growth or decline in the industry and the market for, and spending on, wafer fabrication equipment; the anticipated levels of, and rates of change in, margins, market share, served available market, capital expenditures, research and development expenditures, international sales, revenue (actual and/or deferred), operating expenses and earnings generally; management's plans and objectives for our current and future operations and business focus; restructuring activities; business process improvements and initiatives; volatility in our quarterly results; the makeup of our customer base; customer and end user requirements and our ability to satisfy those requirements; the performance and benefits of our products and services; customer spending and demand for our products and services, and the reliabili
Business
Item 1. Business Incorporated in 1980, Lam Research Corporation ("Lam Research," "Lam," "we," "our," "us," or the "Company") is a Delaware corporation, headquartered in Fremont, California. We maintain a network of facilities throughout Asia, Europe, and the United States in order to meet the needs of our dynamic customer base. Additional information about Lam Research is available on our website at www.lamresearch.com. The content on any website referred to in this Form 10-K is not a part of or incorporated by reference in this Form 10-K unless expressly noted. Our Annual Report on Form 10-K, Quarterly Reports on Forms 10-Q, Current Reports on Forms 8-K, Proxy Statements and all other filings we make with the SEC are available on our website, free of charge, as soon as reasonably practical after we file them with or furnish them to the SEC and are also available online at the SEC's website at www.sec.gov. Lam Research Corporation 2024 10-K 3 Table of Content The Lam Research logo, Lam Research, and all product and service names used in this report are either registered trademarks or trademarks of Lam Research Corporation or its subsidiaries in the United States and/or other countries. All other marks mentioned herein are the property of their respective holders. We are a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. We have built a strong global presence with core competencies in areas such as nanoscale applications enablement, chemistry, plasma and fluidics, advanced systems engineering, and a broad range of operational disciplines. Our products and services are designed to help our customers build smaller and better performing devices that are used in a variety of electronic products, including mobile phones, personal computers, servers, wearables, automotive vehicles, and data storage devices. Our customer base includes leading semiconductor memory, foundry, and integrated device manufacturers ("