Lam Research shares hit all-time highs as institutions aggressively buy the semiconductor equipment maker amid strong earnings and AI demand.

What happened: Lam Research (LRCX) has risen 119% so far this year on the strength of its Q3 fiscal 2026 results, which showed quarterly revenue of $5.84 billion（約9300億円） (a 24% year-over-year gain) and diluted per-share earnings of $1.47. The company offers midpoint quarterly revenue and earnings guidance of $6.6 billion（約1.1兆円） and $1.65 for the next quarter. Institutional investors have been accumulating the stock heavily over the past year, as shown by unusual trading volumes.

Why it matters: Lam Research designs and manufactures semiconductor processing equipment used to make integrated circuits for AI and other applications. The company's strong sales growth rate of 23.7% (1-year) and its 3-year EPS growth rate of 10.6%, paired with estimated EPS growth of 41.4% for this year, signal that the business is benefiting from the AI boom. Big Money institutional demand on this scale typically indicates confidence in both the company's fundamentals and its near-term prospects.

What to watch: The stock has appeared 199 times on MoneyFlows' rare Outlier 20 report since August 1993, during which period it has gained 44,696%. Institutional support is still driving purchases, suggesting the stock could continue to draw investor interest in a diversified portfolio.