LRCX

Lam Research Corp

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Advanced Chart

159.350

-2.84(-1.751%)1D

Line

Candle

YTD

High

159.9511

Open

159.825

VWAP

157.01

Vol

11.61M

Mkt Cap

200.15B

Low

153.195

Amount

1.82B

EV/EBITDA(TTM)

28.86

Total Shares

130.74M

197.94B

EV/OCF(TTM)

31.01

P/S(TTM)

10.42

Lam Research Corporation is a global supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. Its products and services are designed to help its customers build devices that are used in a variety of electronic products, including mobile phones, personal computers, servers, wearables, automotive vehicles, and data storage devices. Its product families include ALTUS, SABRE, SPEED, Striker, VECTOR, Flex, Vantex, Kiyo, Versys Metal, Syndion, Coronus, and DV-Prime, Da Vinci, EOS, and SP Series. Its customer base includes semiconductor memory, foundries, and integrated device manufacturers that make products such as non-volatile memory, dynamic random-access memory, and logic devices. It offers services in areas, such as nanoscale applications enablement, chemistry, plasma and fluidics, and others.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q2

FY2026Q3

FY2026Q4

5.24B

+19.66%

1.164

+27.88%

5.28B

+11.81%

1.179

+13.33%

5.41B

+4.62%

1.230

-7.52%

Estimates Revision

The market is revising Upward the revenue expectations for Lam Research Corporation (LRCX) for FY2026, with the revenue forecasts being adjusted by 6.4% over the past three months. During the same period, the stock price has changed by 56.23%.

Revenue Estimates for FY2026

Revise Upward

+6.4%

In Past 3 Month

EPS Estimates for FY2026

Revise Upward

+8.46%

In Past 3 Month

Stock Price

Go Up

+56.23%

In Past 3 Month

26 Analyst Rating

-2.65% Downside

Wall Street analysts forecast LRCX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for LRCX is 155.13 USD with a low forecast of 105.00 USD and a high forecast of 200.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

20 Buy

6 Hold

0 Sell

Strong Buy

-2.65% Downside

Current: 159.350

Low

105.00

Averages

155.13

High

200.00

-2.65% Downside

Current: 159.350

Low

105.00

Averages

155.13

High

200.00

Oppenheimer

Edward Yang

Outperform

maintain

$120 -> $200

2025-10-23

Reason

Oppenheimer

Edward Yang

Price Target

$120 -> $200

2025-10-23

maintain

Outperform

Reason

Oppenheimer analyst Edward Yang raised the firm's price target on Lam Research to $200 from $120 and keeps an Outperform rating on the shares. The firm says Lam remains the king of 3D stacking and memory, critical for AI-scaling. This point was punctuated by its September quarter demonstrating again record profitability and a clean beat across all major metrics, Oppenheimer adds. 2Q26 guidance was strong, with top- and bottom-line forecasts 8%/12% above consensus, the fourth straight quarter that targets surprised by double-digits.

B. Riley

Buy

maintain

$175 -> $180

2025-10-23

Reason

B. Riley

Price Target

$175 -> $180

2025-10-23

maintain

Buy

Reason

B. Riley raised the firm's price target on Lam Research to $180 from $175 and keeps a Buy rating on the shares following the earnings report. The company showed strong execution and issued a "healthy" 2026 growth outlook despite headwinds in China, the analyst tells investors in a research note.

TD Cowen

Krish Sankar

Buy

upgrade

$145 -> $170

2025-10-23

Reason

TD Cowen

Krish Sankar

Price Target

$145 -> $170

2025-10-23

upgrade

Buy

Reason

TD Cowen analyst Krish Sankar raised the firm's price target on Lam Research to $170 from $145 and keeps a Buy rating on the shares. The firm said China F/L demand led to a September quarter beat. More importantly, December quarter guide came in better than expectations despite a $200M hit on China sales due to the BIS affiliate rule.

Needham

Buy

maintain

$150 -> $160

2025-10-23

Reason

Needham

Price Target

$150 -> $160

2025-10-23

maintain

Buy

Reason

Needham raised the firm's price target on Lam Research to $160 from $150 and keeps a Buy rating on the shares. The firm is positive on the company's "slight" Q3 top-line beat and above-consensus Q4 guide while noting that its China revenue growth was also a key driver of foundry/logic revenue and gross margin strength in the quarter, the analyst tells investors in a research note.

Citi

Buy

upgrade

$120 -> $175

2025-10-23

Reason

Citi

Price Target

$120 -> $175

2025-10-23

upgrade

Buy

Reason

Citi raised the firm's price target on Lam Research to $175 from $120 and keeps a Buy rating on the shares. The company reported a "beat-and-raise" quarter and sees solid wafer fab equipment growth for all end markets in 2026, the analyst tells investors in a research note. Citi lifted estimates post the earnings print.

Morgan Stanley

Equal Weight

maintain

$125 -> $137

2025-10-23

Reason

Morgan Stanley

Price Target

$125 -> $137

2025-10-23

maintain

Equal Weight

Reason

Morgan Stanley raised the firm's price target on Lam Research to $137 from $125 and keeps an Equal Weight rating on the shares. Second half estimates were "inspiring for uninspiring reasons" as numbers beat mainly due to China foundry logic, says the analyst, who adds that there is no change to the firm's view that 2026 will be a strong year led by NAND and foundry logic.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Lam Research Corp (LRCX.O) is 32.58, compared to its 5-year average forward P/E of 19.85. For a more detailed relative valuation and DCF analysis to assess Lam Research Corp 's fair value, click here.

Forward PE
Forward EV/EBITDA
Forward PS

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Strongly Overvalued

5Y Average PE

19.85

Current PE

32.58

Overvalued PE

26.12

Undervalued PE

13.57

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

Strongly Overvalued

5Y Average EV/EBITDA

16.52

Current EV/EBITDA

25.60

Overvalued EV/EBITDA

20.35

Undervalued EV/EBITDA

12.69

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

N/A

5Y Average PS

6.45

Current PS

159.35

Overvalued PS

19.65

Undervalued PS

-6.75