Exhibit 99.1

FOR IMMEDIATE RELEASE

Lam Research Corporation Contact:

Carol Raeburn, Investor Relations, phone: 510-572-4450, e-mail: carol.raeburn@lamresearch.com

Lam Research Corporation Reports Financial Results for the Quarter Ended September 28, 2014

FREMONT, Calif., October 22, 2014 - Lam Research Corp. (NASDAQ: LRCX) today announced financial results for the quarter ended September 28, 2014.

Highlights for the September 2014 quarter were as follows:

Lam Research Corporation

Financial Highlights for the Quarters Ended September 28, 2014 and June 29, 2014

(in thousands, except per share data and percentages)

GAAP Financial Results

Revenue for the September 2014 quarter was $1,152.4 million, gross margin was $505.5 million, or 43.9% of revenue, operating expenses were $337.2 million, operating margin was 14.6% of revenue, and net income was $141.1 million, or $0.80 per diluted share on a GAAP basis. This compares to revenue of $1,248.8 million, gross margin of $557.0 million, or 44.6% of revenue, operating expenses of $341.2 million, operating margin of 17.3% of revenue, and net income of $233.4 million, or $1.35 per diluted share, for the June 2014 quarter. Our June 2014 results benefited from an $83.1 million gain on sale of non-essential real estate.

Non-GAAP Financial Results

Non-GAAP gross margin for the September 2014 quarter was $528.0 million or 45.8% of revenue, non-GAAP operating expenses were $321.2 million, non-GAAP operating margin was 18.0% of revenue, and non-GAAP net income was $167.7 million, or $0.96 per diluted share. This compares to non-GAAP gross margin of $579.9 million or 46.4% of revenue, non-GAAP operating expenses of $322.2 million, non-GAAP operating margin of 20.6% of revenue, and non-GAAP net income of $217.2 million, or $1.25 per diluted share for the June 2014 quarter.

“Lam delivered another quarter of strong execution, with performance that met or exceeded our plans and continued our theme of outperformance relative to the semiconductor equipment industry,” said Martin Anstice, Lam Research’s president and chief executive officer. “We are executing on the tremendous opportunity in front of us as key technology inflections in areas like multi-patterning, FinFET, 3DNAND and advanced packaging drive a multi-year, significant expansion in our served market. Central to our present and future success is our commitment to investment at the leading edge, collaborating with our customers to solve their most critical challenges.”

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Balance Sheet and Cash Flow Results

Cash and cash equivalents, short-term investments, and restricted cash and investment balances decreased to $3.0 billion at the end of the September 2014 quarter compared to $3.2 billion at the end of the June 2014 quarter. This decrease was primarily the result of approximately $308 million in cash flows used for treasury stock purchases including net share settlement on employee stock-based compensation during the September 2014 quarter and was partially offset by approximately $141 million of cash provided by operating activities.

Deferred revenue at the end of the September 2014 quarter decreased to $356.8 million as compared to $361.6 million at the end of the June 2014 quarter. Deferred profit at the end of the September 2014 quarter increased to $251.8 million as compared to $235.9 at the end of the June 2014 quarter. Lam’s deferred revenue balance does not include shipments to Japanese customers, to whom title does not transfer until customer acceptance. Shipments to Japanese customers are classified as inventory at cost until the time of acceptance. The anticipated future revenue from shipments to Japanese customers was approximately $34.3 million as of September 28, 2014.

Geographic Distribution

The geographic distribution of shipments and revenue during the September 2014 quarter is shown in the following table:

Outlook

For the December 2014 quarter, Lam is providing the following guidance:

The information provided above is only an estimate of what the Company believes is realizable as of the date of this release. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the September 2014 and June 2014 quarters exclude rationalization of certain product configurations, amortization related to intangible assets acquired in the Novellus transaction, the amortization of convertible note discounts, and tax expense (benefit) of non-GAAP items. Additionally, the September 2014 quarter non-GAAP results include the impact of the note hedge issued contemporaneously with the convertible notes due in 2016 and 2018 and exclude a net gain associated with the disposition of business and tax benefit on valuation allowance adjustment. The June 2014 quarter non-GAAP results also exclude the release of acquisition-related inventory fair value impacts, restructuring charges, cost associated with the disposition of business, gain on sale of real estate, and tax benefit on successful resolution of certain tax matters.

Management uses non-GAAP gross margin, operating income, operating expenses, operating margin, net income, and net income per diluted share to evaluate the Company’s operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company’s web site at http://investor.lamresearch.com.

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Lam Announces Financial Results for the September 2014 Quarter

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to, the anticipated revenue from shipments to Japanese customers; our ability to continue to outperform the semiconductor equipment industry; our ability to execute and deliver performance that meets or exceeds our plans; the scope of opportunities we have; our ability to execute on these opportunities, including areas like multi-patterning, FinFET, 3DNAND and advanced packaging; our ability to expand our served market; our ability and commitment to invest at the leading edge; our ability to continue to successfully collaborate with customers and to solve their most critical challenges; and our guidance for shipments, revenue, gross margin, operating margin, earnings per share, and diluted share count. Some factors that may affect these forward-looking statements include: business conditions in the consumer electronics industry, the semiconductor industry and the overall economy; the strength of the financial performance of our existing and prospective customers; the introduction of new and innovative technologies; the occurrence and pace of technology transitions and conversions; the actions of our competitors, consumers, semiconductor companies and key suppliers and subcontractors; and the success of research and development and sales and marketing programs. These forward-looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks, including those detailed in documents filed by us with the Securities and Exchange Commission, including specifically our report on Form 10-K for the year ended June 29, 2014. These uncertainties and changes could cause actual results to vary from expectations. The Company undertakes no obligation to update the information or statements made in this press release.

About Lam Research

Lam Research Corp. (NASDAQ:LRCX) is a trusted global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s broad portfolio of market-leading deposition, etch, strip and wafer cleaning solutions help customers achieve success on the wafer by enabling device features that are 1,000 times smaller than a grain of sand, resulting in smaller, faster, and more power-efficient chips. Through collaboration, continuous innovation and delivering on commitments, Lam is transforming atomic-scale engineering and enabling our customers to shape the future of technology. Based in Fremont, Calif., Lam Research is an S&P 500 ® company whose common stock trades on the NASDAQ Global Select Market under the symbol LRCX. For more information, please visit http://www.lamresearch.com. (LRCX-F)

Consolidated Financial Tables Follow.

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Lam Announces Financial Results for the September 2014 Quarter

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data and percentages)

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Lam Announces Financial Results for the September 2014 Quarter

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

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Lam Announces Financial Results for the September 2014 Quarter

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

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Lam Announces Financial Results for the September 2014 Quarter

Non-GAAP Financial Summary

(in thousands, except percentages and per share data)

(unaudited)

Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income and U.S. GAAP number of dilutive shares to Non-GAAP number of dilutive shares

(in thousands, except share and per share data)

(unaudited)

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Lam Announces Financial Results for the September 2014 Quarter

Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin, Operating Expenses and Operating Income

(in thousands, except percentages)

(unaudited)

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