Lam Research Corporation (LRCX)
Lam Research supplies wafer-fabrication equipment specializing in etch and deposition steps for advanced memory and logic chips.
Information Technology stock comparison
LRCX vs STX: which business are you actually underwriting?
Compare Lam Research Corporation with Seagate Technology Holdings plc using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Information
- Industry
- Different SIC
- Shared themes
- 1
- Updated
- 2026-08-07
LRCX vs STX: quick comparison
| Company fact | LRCX | STX |
|---|---|---|
| Company | Lam Research Corporation | Seagate Technology Holdings plc |
| Exchange | NASDAQ | NASDAQ |
| SEC industry | Special Industry Machinery, NEC | Computer Storage Devices |
| Fiscal year-end | June 28 | June 27 |
| Latest annual filing | 10-K · 2026-08-07 | 10-K · 2026-08-04 |
LRCX vs STX: audited financials
LRCX reported about 2.6× the revenue of STX in the latest audited fiscal year. On profitability, LRCX converted a larger share of revenue into net income (31.3% versus 16.1%). Scale and margin are starting facts for the thesis, not the verdict.
| Metric | LRCX | STX |
|---|---|---|
| Revenue | $23.2B | $9.1B |
| Net income | $7.3B | $1.5B |
| Operating cash flow | $5.9B | $1.1B |
| Diluted EPS | $5.76 | $6.77 |
| Net margin | 31.3% | 16.1% |
LRCX: FY ending 2026-06-28 · STX: FY ending 2025-06-27. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
LRCX and STX have different SEC industry classifications, but both map to the maintained Tariffs & trade research theme inside the Information Technology sector. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
Seagate Technology Holdings plc (STX)
Seagate manufactures high-capacity hard-disk drives and storage systems used primarily in cloud and enterprise data centers.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. LRCX is classified by the SEC as Special Industry Machinery, NEC, while STX is classified as Computer Storage Devices. The different industry codes are a warning against treating sector membership as proof of identical economics.
Members-only research
We've published in-depth research on LRCX
LRCX · Jan 30, 2026
Lam Research and the economics of harder-to-build memoryA paid research reconstruction using information available January 30, 2026: NAND conversions, manufacturing complexity, cash conversion and the price of waiting. Includes a separate timing audit and post-mortem.
STX · Jan 28, 2026
Seagate: More Terabytes, Better EconomicsA January 28, 2026 look at Seagate's capacity-density thesis, separating known qualifications and financials from an uncertain next phase.
The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study LRCX when…
- The AI capital-expenditure cycle
- Interest rates and the cost of long-duration growth
- Enterprise IT budgets and cloud migration
- Export controls and the US–China chip race
Study STX when…
- The AI capital-expenditure cycle
- Interest rates and the cost of long-duration growth
- Enterprise IT budgets and cloud migration
- Export controls and the US–China chip race
Shared research themes
Tariffs & trade
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.LRCX's fiscal year ends June 28, while STX's ends June 27. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 38matched transaction rows for LRCXand 8 for STX. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
LRCX primary filings
STX primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
LRCX vs STX FAQs
Are LRCX and STX direct competitors?
Lam Research Corporation and Seagate Technology Holdings plc sit in the same Information Technology sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, LRCX or STX?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this LRCX vs STX comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Lam Research Corporation and Seagate Technology Holdings plc tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
LRCX vs STX shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
Members-only research
LRCX · Jan 30, 2026
Lam Research and the economics of harder-to-build memorySTX · Jan 28, 2026
Seagate: More Terabytes, Better EconomicsSep 22, 2026
Meta jumped 11%. What must happen next to justify the price?
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