Lam Research replaces EY with KPMG for fiscal 2026 audit

Lam Research Corporation announced that its Audit Committee dismissed Ernst & Young LLP (EY) and engaged KPMG LLP as the independent registered public accounting firm effective September 8, 2025 for the fiscal year 2026 audit.

Rhea-AI Filing Summary

Lam Research Corporation announced that its Audit Committee dismissed Ernst & Young LLP (EY) and engaged KPMG LLP as the independent registered public accounting firm effective September 8, 2025 for the fiscal year 2026 audit. The filing states EY's audit reports for the fiscal years ended June 29, 2025 and June 30, 2024 were unqualified and contained no disagreements or reportable events during those periods or through September 8, 2025. The company provided EY with this report and obtained EY's letter dated September 11, 2025, which is attached as an exhibit. The filing also discloses that Lam and KPMG had no consultation during the reported periods about accounting applications, audit opinions, disagreements, or reportable events.

Positive

• Prior-year audits were unqualified for fiscal years ended June 29, 2025 and June 30, 2024
• No disagreements or reportable events reported between the company and EY through September 8, 2025
• KPMG engaged effective September 8, 2025, with no prior consultations disclosed that would impair independence

Negative

• Auditor change introduces standard transition risk around file transfer and continuity of audit procedures during fiscal 2026
• No explanation provided in the filing for the reason behind the dismissal and engagement decision

Insights

Corporate Governance Analyst

Audit firm change made formally and accompanied by clean prior-year audit reports.

The Audit Committee formally replaced EY with KPMG effective September 8, 2025, and the filing confirms EY's prior audit reports for the fiscal years ended June 29, 2025 and June 30, 2024 were unqualified with no reportable events or unresolved disagreements. That description suggests the change is an administrative or strategic decision rather than driven by disclosed audit problems.

This transition depends on a smooth handoff of audit files and access to prior-year workpapers; investors may watch the company's next annual report for any notes about audit continuity or adjustments related to the new engagement during fiscal 2026.

Investor Relations Advisor

Clear disclosure reduces uncertainty but invites standard investor questions.

The filing provides the required statements: dismissal, engagement, confirmation of no disagreements, and EY's letter dated September 11, 2025. Those items fulfill SEC disclosure norms and lower short-term informational risk.

Stakeholders interested in near-term effects should review the fiscal 2026 audit timetable and any audit-fee disclosures in upcoming filings to assess potential cost or timing impacts over the next 12 months.

8-K Event Classification

2 items: 4.01, 9.01

2 items

Item 4.01 Changes in Registrant's Certifying Accountant Governance

The company changed its independent auditing firm, which may involve disagreements on accounting matters.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Lam Research (LRCX) disclose about its auditor change?

The company disclosed the Audit Committee dismissed Ernst & Young LLP and engaged KPMG LLP effective September 8, 2025 for the fiscal 2026 audit.

Were there any disagreements between Lam Research and EY?

No. The filing states there were no disagreements and no reportable events during the fiscal years ended June 29, 2025 and June 30, 2024 and through September 8, 2025.

Did EY's audit opinions include qualifications or disclaimers?

No. EY's audit reports for the fiscal years ended June 29, 2025 and June 30, 2024 did not contain an adverse opinion, disclaimer, or qualifications.

Does the filing say whether Lam consulted KPMG before the engagement?

The filing discloses that neither the company nor anyone on its behalf consulted KPMG on accounting applications or audit opinions during the periods reported.

Is there an independent confirmation from EY included?

Yes. The company attached EY's letter dated September 11, 2025 as an exhibit confirming EY's agreement with the statements in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/11/2025 - 04:05 PM Learn about SEC filing dates

FALSE000070754900007075492025-09-082025-09-08

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): September 8, 2025

LAM RESEARCH CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

0-12933

94-2634797

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification Number)

4650 Cushing Parkway

Fremont, California 94538

(Address of principal executive offices including zip code)

(510) 572-0200

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

			☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
			☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
			☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
			☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock, Par Value $0.001 Per Share			LRCX			The Nasdaq Stock Market
						(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                      ☐

Table of Contents

Table of Contents

 

Item 4.01.						Changes in Registrant's Certifying Accountant			3
Item 9.01.						Financial Statements and Exhibits			3
SIGNATURES									4

Table of Contents

Item 4.01.    Changes in Registrant's Certifying Accountant

On, and effective as of, September 8, 2025, the Audit Committee (the “Committee”) of the Board of Directors of Lam Research Corporation (the “Company”) approved the dismissal of Ernst & Young LLP (“EY”) as the Company’s independent registered public accounting firm. Also on, and effective as of, September 8, 2025, the Committee approved the engagement of KPMG LLP (“KPMG”) as the Company’s independent registered public accounting firm for the Company’s fiscal year 2026 audit.

The audit reports of EY on the Company’s financial statements as of and for the fiscal years ended June 29, 2025 and June 30, 2024 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.

During the fiscal years ended June 29, 2025 and June 30, 2024 and the subsequent interim period through September 8, 2025, there were: (i) no “disagreements” (within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and EY on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to EY’s satisfaction, would have caused EY to make reference thereto in its reports; and (ii) no “reportable events” (within the meaning of Item 304(a)(1)(v) of Regulation S-K).

The Company provided EY with a copy of this current report on Form 8-K and requested that EY furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether EY agreed with the statements made by the Company set forth above. A copy of EY’s letter, dated September 11, 2025, is attached as Exhibit 16.1 to this Current Report on Form 8-K.

During the fiscal years ended June 29, 2025 and June 30, 2024 and the subsequent interim period through September 8, 2025, neither the Company, nor anyone on behalf of the Company, consulted KPMG regarding: (i) the application of accounting principles to a specified transaction (either completed or proposed), or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor oral advice was provided to the Company that KPMG concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a “disagreement” (within the meaning of Item 304(a)(1)(iv) of Regulation S-K) or a “reportable event” (within the meaning of Item 304(a)(1)(v) of Regulation S-K).

Item 9.01.    Financial Statements and Exhibits

(d) Exhibits

16.1			Letter from Ernst & Young LLP to the Securities and Exchange Commission, dated as of September 11, 2025
104			Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:			September 11, 2025						LAM RESEARCH CORPORATION
									(Registrant)
									/s/ Douglas R. Bettinger
									Douglas R. Bettinger
									Executive Vice President, Chief Financial Officer