New York, March 2, 2026, 18:40 EST — After-hours
- Lam Research (LRCX) ended down 1.24% at $231, extending a three-day slide
- A cluster of Form 4 filings disclosed equity awards and tax-withholding share dispositions for top executives
- Investors are watching Tuesday’s Morgan Stanley TMT appearance and Friday’s U.S. payrolls report
Lam Research Corp shares fell 1.24% to close at $231.00 on Monday, their third straight decline, leaving the chip equipment maker about 10% below its recent 52-week high. Trading volume was about 10.2 million shares, below the stock’s 50-day average, while Applied Materials ended nearly flat. 1
The move comes as investors keep a close eye on inflation signals that can push bond yields higher and weigh on growth stocks, including semiconductors. A U.S. manufacturing survey showed input costs accelerating, and “the surge in the prices paid index will raise some eyebrows at the Fed,” said Thomas Ryan, a North America economist at Capital Economics. 2
Attention now turns to Friday’s U.S. employment report for February, due March 6, with a Reuters poll forecasting 60,000 jobs. “Trying to find the winners and losers … and pretty much treading water,” is how John Velis, Americas macro strategist at BNY, described the market backdrop. 3
U.S. stocks finished narrowly mixed after a volatile session, with the Nasdaq up 0.36% and the S&P 500 edging higher, as oil prices jumped on geopolitical concerns. “I just don’t think the average market participant is that moved by the conflict until the price of oil gets to $100 a barrel,” said Alex Morris, CEO of F/m Investments. 4
In the chip tools sector, investors also digested fresh signals about where spending could go next. ASML Chief Technology Officer Marco Pieters told Reuters the company is looking “at the next 10, maybe 15 years,” with an expansion into advanced packaging equipment for AI chips. 5
Company filings also drew attention after the bell. A Form 4 — the SEC’s insider-transaction disclosure — showed Lam CFO Douglas Bettinger received 12,547 shares on Feb. 27 and picked up 18,820 market-based performance restricted stock units, while withholding 48,673 shares at $233.89 to cover taxes tied to vesting awards. 6
Senior vice president Neil Fernandes disclosed a stock grant of 8,274 shares and 10,113 market-based performance restricted stock units, and reported several “F” code transactions at $233.89 — a label typically used for shares withheld for tax obligations. 7
Executive vice president Patrick Lord reported four blocks of shares withheld for taxes, including 31,406 shares, at the same $233.89 reference price, the filing showed. 8
Lam has a near-term investor calendar, too. The company said Bettinger will present at the Morgan Stanley TMT Conference on Tuesday, March 3, at 9:15 a.m. Pacific time (12:15 p.m. Eastern), and at Cantor’s Global Technology & Industrial Growth Conference on March 11. 9
Still, it can turn fast. A hotter-than-expected jobs print, or another jump in energy prices that pushes yields up, could keep pressure on expensive chip names, while any hint chipmakers are trimming capital spending would land quickly on equipment orders.
The next hard catalysts are close. The U.S. Labor Department’s calendar shows the Employment Situation report for February is scheduled for 8:30 a.m. ET on Friday, March 6, with the CPI report for February due March 11 — two data points that can reset rate bets and, with them, the tone for LRCX into next week. 10
