Citi Raises PT on Lam Research (LRCX) Stock

Core Insights - Lam Research Corporation (NASDAQ:LRCX) is recognized as a fundamentally strong stock, with Citi analyst Atif Malik raising the price target from $175 to $190 while maintaining a "Buy" rating, reflecting confidence in the company's growth prospects driven by increasing AI investments [1][2] - The company is well-positioned for continued growth due to its expanding portfolio of products and solutions that address AI-driven semiconductor manufacturing needs [2] - Lam Research anticipates achieving over $5 billion in revenue for three consecutive quarters, with a reported revenue of $5.32 billion in September 2025, marking a 3% increase from the previous quarter [3] Financial Performance - In the September 2025 quarter, Lam Research's revenue rose to $5.32 billion, up from $5.17 billion in June 2025, while net income decreased to $1.56 billion from $1.7 billion in the prior quarter [3] - The company's revenue growth is attributed to increased systems revenue from sustained investments in the Foundry market segment and a rise in customer support-related revenue [4] Market Position - Lam Research's performance highlights its effective execution and the significance of its products and services in supporting the semiconductor industry's technology roadmap amid growing manufacturing complexity [4]