Lam Research (NASDAQ:LRCX) Hits New 12-Month High After Analyst Upgrade

Key Points

• Lam Research hit a new 52-week high after Sanford C. Bernstein raised its price target to $340 from $325 and reiterated an outperform rating. The stock traded as high as $302.17 during the session.
• Analyst sentiment remains broadly positive, with multiple firms maintaining or raising ratings and targets; the stock currently carries a Moderate Buy consensus and an average price target of $293.46.
• Recent earnings and fundamentals were solid, as Lam Research reported EPS of $1.47 versus $1.36 expected and revenue of $5.84 billion, while hedge funds continue to own a large majority of shares.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report) shares reached a new 52-week high on Thursday after Sanford C. Bernstein raised their price target on the stock from $325.00 to $340.00. Sanford C. Bernstein currently has an outperform rating on the stock. Lam Research traded as high as $302.17 and last traded at $300.79, with a volume of 4156742 shares traded. The stock had previously closed at $292.09.

A number of other research firms have also weighed in on LRCX. UBS Group set a $300.00 price target on shares of Lam Research in a research report on Thursday, January 29th. KeyCorp restated a "sector weight" rating on shares of Lam Research in a research report on Thursday, January 29th. The Goldman Sachs Group restated a "buy" rating and set a $290.00 price target on shares of Lam Research in a research report on Thursday, April 23rd. BNP Paribas Exane boosted their price target on shares of Lam Research from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Finally, Oppenheimer restated an "outperform" rating and set a $330.00 price target on shares of Lam Research in a research report on Thursday, April 23rd. Twenty-seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $293.46.

Insider Buying and Selling at Lam Research

In other news, insider Ava Harter sold 6,010 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $258.66, for a total value of $1,554,546.60. Following the sale, the insider directly owned 53,205 shares of the company's stock, valued at approximately $13,762,005.30. The trade was a 10.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 18,170 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the completion of the sale, the senior vice president directly owned 66,129 shares in the company, valued at $16,872,153.06. This trade represents a 21.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 120,066 shares of company stock worth $27,953,242 in the last ninety days. 0.31% of the stock is owned by insiders.

More Lam Research News

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Bernstein raised its price target on Lam Research to $340 from $325 and kept an outperform rating, implying additional upside as wafer-fab equipment spending improves. Bernstein adjusts price target on Lam Research to 340 from 325, maintains outperform rating
• Positive Sentiment: Morgan Stanley upgraded Lam Research to Overweight, citing a stronger industry outlook and more favorable wafer-fabrication-equipment spending trends. LRCX Overweight: How Lam Research Is Poised to Outperform the $149B WFE Market
• Positive Sentiment: Lam Research opened a research lab in Salzburg, Austria to advance chip-packaging technology, supporting expectations for growth tied to AI-driven demand and advanced packaging. Lam Research opens Austria lab to advance chip packaging, cut costs
• Positive Sentiment: The stock recently moved above its 20-day moving average, a technical signal traders often view as confirmation of short-term momentum. Lam Research (LRCX) Just Overtook the 20-Day Moving Average
• Positive Sentiment: Recent commentary highlighted Lam Research as a beneficiary of rising AI chip and memory spending, with analysts lifting wafer-fab equipment forecasts and price targets. Bernstein lifts price targets on LRCX and KLAC after lifting WFE forecasts
• Neutral Sentiment: Other coverage compared Lam Research with Applied Materials and suggested AMAT may have an edge on valuation and product breadth, which is a mild competitive overhang rather than a direct negative catalyst. Lam Research vs. Applied Materials: Which AI Chip Stock Has the Edge?

Institutional Investors Weigh In On Lam Research

Large investors have recently added to or reduced their stakes in the business. PMV Capital Advisers LLC purchased a new stake in Lam Research during the 4th quarter worth approximately $25,000. Stance Capital LLC bought a new position in Lam Research in the 3rd quarter valued at about $26,000. Bayban acquired a new position in shares of Lam Research in the 4th quarter valued at about $26,000. Vermillion Wealth Management Inc. acquired a new position in Lam Research during the first quarter valued at approximately $26,000. Finally, Cedar Mountain Advisors LLC grew its holdings in Lam Research by 242.9% during the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Up 3.0%

The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $376.30 billion, a P/E ratio of 56.77, a PEG ratio of 2.26 and a beta of 1.81. The firm has a 50-day moving average price of $250.60 and a two-hundred day moving average price of $213.69.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period in the prior year, the business earned $1.04 earnings per share. Lam Research's revenue for the quarter was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Equities research analysts anticipate that Lam Research Corporation will post 5.67 EPS for the current fiscal year.

About Lam Research

Lam Research Corporation NASDAQ: LRCX is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam's product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.

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