(As of December 12, 2025 | Post Q1 FY2026 earnings and recent insider sales)
Current market capitalization: ≈ $199.5 billion (based on ~$158.90/share and 1.256 billion shares outstanding)
Introduction
Lam Research Corporation (NASDAQ: LRCX), founded in 1980 by David K. Lam and headquartered in Fremont, California, is a leading supplier of semiconductor manufacturing equipment, specializing in deposition, etch, and clean processes essential for advanced chip production (e.g., AI accelerators, 3nm nodes). It serves major foundries like TSMC and Intel, with ~80% revenue from semiconductors amid AI/data center demand. Public since 1984, it features a single-class share structure (one vote per share) for aligned governance. Ownership is institutionally concentrated (~81%), insiders ~0.36%, and retail ~19%. The table below details the top 10 economic shareholders from Q3 2025 13F filings and SEC data, with values at current market cap. Recent activity includes $944K in insider sales (Oct 31, 2025, by CEO Tim Archer) and $4B quarterly buybacks reducing shares by ~0.5% YoQ.
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($199.5B valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 10.43% | $20.8 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~130.97M shares. Passive with ~$9.3T AUM; added ~0.28% in Q3 2025; core S&P 500 weighting (~6%). No direct control; focuses on etch/deposition tools growth. |
| 2 | BlackRock Inc. | 9.89% | $19.7 billion | Holds ~124.26M shares through iShares ETFs (e.g., IVV); passive/active mix. Increased ~0.5% in Q3 2025; board observer on governance/ESG. Key in semiconductor funds; LRCX ~0.3% of portfolio. |
| 3 | State Street Corporation | 4.76% | $9.5 billion | Owns ~59.82M shares via SPDRs (e.g., SPY); fully passive. Stable QoQ; votes proxies on exec comp and supply chain ethics. ~4% of tech holdings; supports $10B buyback program. |
| 4 | Geode Capital Management, LLC | 2.68% | $5.3 billion | Fidelity affiliate with ~33.62M shares in index trackers; passive. Grew ~0.3% in Q3; tracks Nasdaq 100; minimal voting power. |
| 5 | JPMorgan Chase & Co. | 2.38% | $4.7 billion | ~29.94M shares in asset management; index/active blend. Up ~1% in 2025; provides banking/debt for LRCX's $6B+ cash reserves. |
| 6 | Capital Research Global Investors | 2.00% | $4.0 billion | ~25.1M shares in growth strategies; active manager. Added ~18% in Q3; focuses on AI etch tools (up 15% Q1 FY2026). |
| 7 | FMR LLC (Fidelity) | 1.80% | $3.6 billion | ~22.6M shares across funds (e.g., Contrafund); active with minor Q3 trim. Bullish on deposition (up 10% Q1); advisory on innovation. |
| 8 | Morgan Stanley | 1.50% | $3.0 billion | ~18.8M shares via wealth/ETFs; active in advisory. Stable QoQ; engages on shareholder proposals re: antitrust/chips. |
| 9 | Price T. Rowe Associates Inc. | 1.20% | $2.4 billion | ~15.1M shares in growth funds (e.g., Blue Chip); trimmed ~1% on valuation but holds for services (~$2B FY2025). |
| 10 | Tim Archer (President & CEO) | 0.10% | $0.2 billion | ~1.26M shares; largest active insider. Recent sales (~$944K Oct 31, 2025); oversees strategy since 2018; net worth ~$200M tied to performance. |
Total Top 10 = ~45.24% | Remaining: Other Institutions (~36%), Other Insiders (~0.26%, e.g., Rick A. Gottscho CTO at ~0.05%), Retail (~19%) | Grand Total = 100%
Conclusion
As of December 2025, Lam Research's ownership is institutionally anchored (~81% total) by passive titans like Vanguard and BlackRock, providing stability for its $4.17B Q1 FY2026 revenue (up 10% YoY, ~80% from systems) and $1.1B net income (up 15% YoY, adj. EPS $8.12), fueled by AI etch/deposition demand despite China curbs (28% revenue). Insiders (~0.36% combined) like Archer reflect routine 10b5-1 sales amid expansions (e.g., $6.2B backlog), while retail's ~19% stake highlights chip enthusiasm. With $199.5B market cap (up 25% YoY) and $10B buybacks authorized ($4B in FY2025), expect ~0.5% annual share reductions, minor institutional rebalancing in Q4 13Fs (due Feb 2026), and FY2026 revenue ~$18.5B (up 8%). This structure supports wafer fab dominance via $2.48 annual dividends (1.56% yield). For filings, visit SEC EDGAR or Lam Research's investor relations.