New York, Feb 2, 2026, 19:00 EST — After-hours
- Lam Research shares climbed during regular trading and pushed higher after hours.
- The company revealed a multi-year R&D partnership targeting specialty chip technologies.
- Traders have their eyes on macro data due later this week, which could shake up rates and hit high-multiple chip stocks hard.
Lam Research (LRCX.O) shares climbed 1.7% to $237.50 on Monday, then gained roughly 1.2% more in after-hours, hitting $240.40. The chipmaker said it broadened its research partnership with CEA-Leti. During the day, the stock swung between $232 and $242.95 but remains shy of its 52-week peak near $251.84. (Google)
The deal comes as investors seek evidence that demand for semiconductor equipment is broadening beyond the typical logic and memory chip cycles. Specialty devices like sensors, power components, and optics follow distinct patterns, often involving different materials and manufacturing processes.
For Lam, this is crucial since tool vendors involved early in process development often find themselves on production lines down the road. The catch? Research breakthroughs may take years before they translate into revenue, and budgets can change in the meantime.
Lam described the multi-year deal as a dive into “multi-elemental materials” and next-gen fabrication techniques for compound semiconductors. The scope covers MEMS, 3D imaging, power management, RF components, photonics, and optical interconnects. Vahid Vahedi called the potential “immense,” adding the effort should “fast-track” energy-efficient device development. Sébastian Dauvé highlighted that quicker characterization can deliver “actionable feedback.” The collaboration will combine Lam’s etch and deposition tools—critical for shaping and layering silicon wafers—with CEA-Leti’s device testing. (Lam Research Newsroom)
U.S. stocks climbed Monday, with the S&P 500 adding 0.5% and the Nasdaq Composite rising 0.6%. In semiconductor equipment, results were uneven: Applied Materials jumped 1.9%, ASML Holding edged up 1.3%, while KLA dipped 1.2%. (AP News)
Economic data shaped the mood as well. Purchasing managers’ indexes, or PMIs, which track business activity through surveys, indicated global manufacturing picked up in January. Notably, the U.S. returned to expansion after a year of contraction. (Reuters)
Lam projected third-quarter revenue at $5.7 billion, with a margin of error of $300 million, and adjusted earnings of $1.35 per share, plus or minus 10 cents—both figures exceeding Wall Street forecasts. The company posted December-quarter revenue of $5.34 billion and adjusted earnings of $1.27 per share, again beating expectations, Reuters reported. (Reuters)
However, the new agreement focuses on research and doesn’t promise immediate tool sales. Lam highlighted risks such as trade regulations and export controls that might limit its sales capabilities. The company also noted the possibility that customers or rivals could act unpredictably. (PR Newswire)
Regular trading is over, and now all eyes turn to whether the after-hours action sticks into Tuesday’s open. The next major data point is Friday’s U.S. employment report, though the U.S. Bureau of Labor Statistics warns the release date could shift if government services remain disrupted. (Bls)
