Subtext

Lam Research Corporation LRCX

SectorInformation Technology
Transcripts55
Date range2011-10-19 – 2025-04-23
Calls charted55

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-16-8+0+8+162012 Q12013 Q42015 Q32017 Q22019 Q12020 Q42022 Q32024 Q22012 Q1 · Overall: +1.62012 Q2 · Overall: +5.32012 Q3 · Overall: +1.52012 Q4 · Overall: +0.92013 Q1 · Overall: +4.62013 Q2 · Overall: +7.22013 Q3 · Overall: +6.72013 Q4 · Overall: +7.02014 Q1 · Overall: +8.12014 Q2 · Overall: +8.82014 Q3 · Overall: +7.42014 Q4 · Overall: +11.42015 Q1 · Overall: +9.02015 Q2 · Overall: +7.32015 Q3 · Overall: +12.82015 Q4 · Overall: +8.92016 Q1 · Overall: +8.82016 Q2 · Overall: +11.62016 Q3 · Overall: +8.62016 Q4 · Overall: +12.12017 Q1 · Overall: +9.52017 Q2 · Overall: +7.82017 Q3 · Overall: +4.32017 Q4 · Overall: +13.82018 Q1 · Overall: +9.72018 Q2 · Overall: +8.62018 Q3 · Overall: +6.32018 Q4 · Overall: +8.52019 Q1 · Overall: +3.92019 Q2 · Overall: +1.22019 Q3 · Overall: +7.22019 Q4 · Overall: +8.02020 Q1 · Overall: +9.42020 Q2 · Overall: +8.62020 Q3 · Overall: +0.02020 Q4 · Overall: +8.82021 Q1 · Overall: +5.82021 Q2 · Overall: +8.22021 Q3 · Overall: +13.32021 Q4 · Overall: +9.92022 Q1 · Overall: +5.02022 Q2 · Overall: +1.02022 Q3 · Overall: +2.02022 Q4 · Overall: +7.72023 Q1 · Overall: +4.32023 Q2 · Overall: +5.42023 Q3 · Overall: +3.52023 Q4 · Overall: +9.22024 Q1 · Overall: +8.42024 Q2 · Overall: +8.52024 Q3 · Overall: +7.72024 Q4 · Overall: +8.42025 Q1 · Overall: +10.62025 Q2 · Overall: +11.42025 Q3 · Overall: +7.1
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-27-14+0+14+272012 Q12013 Q42015 Q32017 Q22019 Q12020 Q42022 Q32024 Q22012 Q1 · CEO: +2.32012 Q2 · CEO: +9.32012 Q3 · CEO: +5.92012 Q4 · CEO: +4.02013 Q1 · CEO: +7.02013 Q2 · CEO: +10.92013 Q3 · CEO: +9.22013 Q4 · CEO: +15.12014 Q1 · CEO: +7.42014 Q2 · CEO: +13.52014 Q3 · CEO: +11.72014 Q4 · CEO: +17.52015 Q1 · CEO: +13.82015 Q2 · CEO: +11.92015 Q3 · CEO: +20.82015 Q4 · CEO: +15.32016 Q1 · CEO: +19.52016 Q2 · CEO: +18.02016 Q3 · CEO: +13.52016 Q4 · CEO: +22.02017 Q1 · CEO: +14.72017 Q2 · CEO: +12.22017 Q3 · CEO: +8.82017 Q4 · CEO: +21.32018 Q1 · CEO: +20.82018 Q2 · CEO: +13.52018 Q3 · CEO: +12.52018 Q4 · CEO: +16.32019 Q1 · CEO: +7.32019 Q2 · CEO: +7.22019 Q3 · CEO: +12.62019 Q4 · CEO: +12.02020 Q1 · CEO: +19.52020 Q2 · CEO: +14.22020 Q3 · CEO: +3.32020 Q4 · CEO: +19.82021 Q1 · CEO: +11.72021 Q2 · CEO: +11.72021 Q3 · CEO: +19.62021 Q4 · CEO: +17.92022 Q1 · CEO: +12.52022 Q2 · CEO: +3.22022 Q3 · CEO: +7.62022 Q4 · CEO: +13.82023 Q1 · CEO: +14.62023 Q2 · CEO: +14.72023 Q3 · CEO: +8.72023 Q4 · CEO: +21.52024 Q1 · CEO: +15.72024 Q2 · CEO: +14.12024 Q3 · CEO: +18.72024 Q4 · CEO: +15.12025 Q1 · CEO: +22.92025 Q2 · CEO: +23.52025 Q3 · CEO: +20.32012 Q1 · CFO: +5.02012 Q2 · CFO: +0.02012 Q3 · CFO: +4.82012 Q4 · CFO: +4.12013 Q1 · CFO: +7.72013 Q2 · CFO: +12.32013 Q3 · CFO: +12.92013 Q4 · CFO: +7.12014 Q1 · CFO: +17.82014 Q2 · CFO: +11.32014 Q3 · CFO: +11.62014 Q4 · CFO: +9.12015 Q1 · CFO: +9.52015 Q2 · CFO: +9.82015 Q3 · CFO: +12.52015 Q4 · CFO: +3.32016 Q1 · CFO: +9.82016 Q2 · CFO: +9.02016 Q3 · CFO: +12.12016 Q4 · CFO: +10.62017 Q1 · CFO: +7.92017 Q2 · CFO: +7.72017 Q3 · CFO: +8.42017 Q4 · CFO: +7.92018 Q1 · CFO: +11.92018 Q2 · CFO: +6.12018 Q3 · CFO: +9.92018 Q4 · CFO: +4.52019 Q1 · CFO: +6.62019 Q2 · CFO: -0.62019 Q3 · CFO: +9.42019 Q4 · CFO: +9.52020 Q1 · CFO: +4.52020 Q2 · CFO: +10.92020 Q3 · CFO: -2.52020 Q4 · CFO: +9.52021 Q1 · CFO: +8.12021 Q2 · CFO: +7.32021 Q3 · CFO: +16.82021 Q4 · CFO: +8.22022 Q1 · CFO: +6.42022 Q2 · CFO: +5.12022 Q3 · CFO: +5.52022 Q4 · CFO: +11.22023 Q1 · CFO: +3.82023 Q2 · CFO: +6.22023 Q3 · CFO: +3.42023 Q4 · CFO: +11.62024 Q1 · CFO: +10.62024 Q2 · CFO: +11.82024 Q3 · CFO: +2.82024 Q4 · CFO: +10.82025 Q1 · CFO: +8.62025 Q2 · CFO: +10.52025 Q3 · CFO: +7.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-27-13+0+13+272012 Q12013 Q42015 Q32017 Q22019 Q12020 Q42022 Q32024 Q22012 Q1 · Prepared remarks: +6.52012 Q2 · Prepared remarks: +5.02012 Q3 · Prepared remarks: +12.82012 Q4 · Prepared remarks: +10.22013 Q1 · Prepared remarks: +11.02013 Q2 · Prepared remarks: +14.72013 Q3 · Prepared remarks: +15.42013 Q4 · Prepared remarks: +18.82014 Q1 · Prepared remarks: +17.72014 Q2 · Prepared remarks: +19.02014 Q3 · Prepared remarks: +14.92014 Q4 · Prepared remarks: +15.12015 Q1 · Prepared remarks: +18.82015 Q2 · Prepared remarks: +10.72015 Q3 · Prepared remarks: +23.12015 Q4 · Prepared remarks: +14.22016 Q1 · Prepared remarks: +18.92016 Q2 · Prepared remarks: +19.12016 Q3 · Prepared remarks: +17.52016 Q4 · Prepared remarks: +19.12017 Q1 · Prepared remarks: +18.72017 Q2 · Prepared remarks: +14.82017 Q3 · Prepared remarks: +16.12017 Q4 · Prepared remarks: +21.32018 Q1 · Prepared remarks: +20.32018 Q2 · Prepared remarks: +15.92018 Q3 · Prepared remarks: +20.22018 Q4 · Prepared remarks: +17.02019 Q1 · Prepared remarks: +15.32019 Q2 · Prepared remarks: +3.92019 Q3 · Prepared remarks: +16.12019 Q4 · Prepared remarks: +16.62020 Q1 · Prepared remarks: +18.62020 Q2 · Prepared remarks: +15.92020 Q3 · Prepared remarks: +2.42020 Q4 · Prepared remarks: +20.62021 Q1 · Prepared remarks: +16.42021 Q2 · Prepared remarks: +12.62021 Q3 · Prepared remarks: +19.22021 Q4 · Prepared remarks: +9.92022 Q1 · Prepared remarks: +5.62022 Q2 · Prepared remarks: +4.32022 Q3 · Prepared remarks: +10.22022 Q4 · Prepared remarks: +14.82023 Q1 · Prepared remarks: +14.12023 Q2 · Prepared remarks: +15.72023 Q3 · Prepared remarks: +8.52023 Q4 · Prepared remarks: +22.62024 Q1 · Prepared remarks: +16.32024 Q2 · Prepared remarks: +21.42024 Q3 · Prepared remarks: +15.62024 Q4 · Prepared remarks: +15.72025 Q1 · Prepared remarks: +14.12025 Q2 · Prepared remarks: +21.32025 Q3 · Prepared remarks: +18.82012 Q1 · Q&A responses: +1.42012 Q2 · Q&A responses: +8.82012 Q3 · Q&A responses: +0.42012 Q4 · Q&A responses: -2.02013 Q1 · Q&A responses: +4.02013 Q2 · Q&A responses: +7.62013 Q3 · Q&A responses: +1.72013 Q4 · Q&A responses: +3.52014 Q1 · Q&A responses: +5.72014 Q2 · Q&A responses: +5.02014 Q3 · Q&A responses: +7.52014 Q4 · Q&A responses: +14.12015 Q1 · Q&A responses: +4.92015 Q2 · Q&A responses: +6.02015 Q3 · Q&A responses: +14.42015 Q4 · Q&A responses: +7.72016 Q1 · Q&A responses: +16.12016 Q2 · Q&A responses: +12.62016 Q3 · Q&A responses: +6.62016 Q4 · Q&A responses: +13.82017 Q1 · Q&A responses: +7.02017 Q2 · Q&A responses: +7.22017 Q3 · Q&A responses: +5.02017 Q4 · Q&A responses: +14.62018 Q1 · Q&A responses: +12.62018 Q2 · Q&A responses: +6.22018 Q3 · Q&A responses: +4.62018 Q4 · Q&A responses: +6.02019 Q1 · Q&A responses: +2.42019 Q2 · Q&A responses: -0.22019 Q3 · Q&A responses: +7.52019 Q4 · Q&A responses: +5.82020 Q1 · Q&A responses: +7.72020 Q2 · Q&A responses: +9.42020 Q3 · Q&A responses: +0.02020 Q4 · Q&A responses: +7.62021 Q1 · Q&A responses: +3.92021 Q2 · Q&A responses: +6.72021 Q3 · Q&A responses: +16.02021 Q4 · Q&A responses: +13.62022 Q1 · Q&A responses: +5.12022 Q2 · Q&A responses: +2.02022 Q3 · Q&A responses: +3.52022 Q4 · Q&A responses: +11.12023 Q1 · Q&A responses: +3.72023 Q2 · Q&A responses: +5.52023 Q3 · Q&A responses: +3.92023 Q4 · Q&A responses: +11.82024 Q1 · Q&A responses: +10.62024 Q2 · Q&A responses: +6.72024 Q3 · Q&A responses: +7.62024 Q4 · Q&A responses: +11.02025 Q1 · Q&A responses: +16.82025 Q2 · Q&A responses: +11.62025 Q3 · Q&A responses: +9.0
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.18$2.18$4.192012 Q12013 Q42015 Q32017 Q22019 Q12020 Q42022 Q32024 Q22014 Q1: $0.462014 Q2: $0.472014 Q3: $0.482014 Q4: $0.512015 Q1: $0.552015 Q2: $0.582015 Q3: $0.632015 Q4: $0.642016 Q1: $0.682016 Q2: $0.692016 Q3: $0.712016 Q4: $0.812017 Q1: $0.882017 Q2: $1.082017 Q3: $1.292017 Q4: $1.492018 Q1: $1.642018 Q2: $1.732018 Q3: $1.632018 Q4: $1.562019 Q1: $1.462019 Q2: $1.472019 Q3: $1.472019 Q4: $1.682020 Q1: $1.922020 Q2: $1.752020 Q3: $2.172020 Q4: $2.372021 Q1: $2.612021 Q2: $3.252021 Q3: $3.462021 Q4: $3.572022 Q1: $3.702022 Q2: $3.802022 Q3: $3.732022 Q4: $3.132023 Q1: $2.872023 Q2: $2.582023 Q3: $2.962023 Q4: $3.192024 Q1: $3.412024 Q2: $3.602024 Q3: $3.822024 Q4: $3.91

Forward P/E

6.6319.3232.022012 Q12013 Q42015 Q32017 Q22019 Q12020 Q42022 Q32024 Q22014 Q1: 11.912014 Q2: 14.152014 Q3: 15.552014 Q4: 15.352015 Q1: 14.162015 Q2: 14.172015 Q3: 11.922015 Q4: 12.632016 Q1: 11.532016 Q2: 11.962016 Q3: 12.862016 Q4: 12.812017 Q1: 14.072017 Q2: 14.142017 Q3: 13.272017 Q4: 12.172018 Q1: 13.572018 Q2: 10.672018 Q3: 9.402018 Q4: 8.382019 Q1: 11.692019 Q2: 12.342019 Q3: 16.192019 Q4: 17.142020 Q1: 10.102020 Q2: 17.932020 Q3: 14.102020 Q4: 20.812021 Q1: 21.192021 Q2: 19.652021 Q3: 17.702021 Q4: 19.532022 Q1: 13.902022 Q2: 11.942022 Q3: 11.322022 Q4: 14.932023 Q1: 16.952023 Q2: 24.422023 Q3: 22.222023 Q4: 23.072024 Q1: 27.182024 Q2: 30.272024 Q3: 19.782024 Q4: 19.23

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q1 tone ↓ -2.4 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↓ -3.9 fwd EPS ↑ +0.01 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -3.0 fwd EPS ↑ +0.02 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -2.6 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -3.5 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -4.1 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↑ +2.1 fwd EPS ↓ -0.06 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↓ -8.6 fwd EPS ↑ +0.42 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -3.0 fwd EPS ↑ +0.24 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↓ -3.4 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -4.8 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -4.0 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +5.7 fwd EPS ↓ -0.59 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q32025-04-23+7.1——View →
2025 Q22025-01-29+11.4——View →
2025 Q12024-10-23+10.6——View →
2024 Q42024-07-31+8.4$3.9119.2View →
2024 Q32024-04-24+7.7$3.8219.8View →
2024 Q22024-01-24+8.5$3.6030.3View →
2024 Q12023-10-18+8.4$3.4127.2View →
2023 Q42023-07-26+9.2$3.1923.1View →