Lam Research: Premium Analysis

Lam Research is cash efficient with forward guidance that shows earnings will grow at a rate that is rare to see in the semiconductor space. There is a 1.5% dividend, an exceptional buyback schedule and adjusted forward earnings per share of $20.34 for FY 2021, up from $16.05 for FY 2020. The $4 EPS increase in adjusted forward earnings in 2021 alone is more than Nvidia, Qualcomm, Taiwan Semiconductor, AMD or Qorvo’s respective EPS.

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