What Are Wall Street Analysts’ Target Price for Lam Research Corporation Stock?

Core Insights - Lam Research Corporation (LRCX) is a leading semiconductor-equipment company with a market capitalization of approximately $187.6 billion, specializing in wafer-processing systems for integrated circuit fabrication [1] Stock Performance - LRCX shares have significantly outperformed the broader market, with a 112.1% increase over the past 52 weeks, compared to a 12.3% gain in the S&P 500 Index [2] - Year-to-date, LRCX stock is up 106%, while the S&P 500 has returned 12.9% [2] - Compared to the First Trust Nasdaq Semiconductor ETF, which saw a 35% increase over the past 52 weeks, LRCX's performance is notably stronger [3] Market Drivers - The strong rise in LRCX shares in 2025 is attributed to increasing demand for AI-centric and data center chips, as companies invest in high-performance computing [4] - The demand for advanced wafer-fabrication tools, particularly for deposition and etching, has surged due to this trend [4] - Favorable macroeconomic factors, such as proposed tax credits to enhance U.S. chip manufacturing, are expected to further bolster growth [4] Earnings Outlook - For fiscal 2026, analysts project LRCX's earnings per share (EPS) to grow by 15.7% year-over-year to $4.79 [5] - The company has a strong earnings surprise history, having exceeded consensus estimates in the last four quarters [5] - Among 32 analysts covering LRCX, the consensus rating is a "Moderate Buy," with 21 "Strong Buy" recommendations, two "Moderate Buys," and nine "Hold" ratings [5] Analyst Sentiment - The current analyst configuration is slightly more bullish than a month ago, with an increase in "Strong Buy" ratings from 20 to 21 [6] - TD Cowen raised LRCX's price target from $145 to $170, maintaining a "Buy" rating, citing strong demand from China for front-end and logic equipment [6] - Analysts remain optimistic about LRCX benefiting from NAND upgrades, rising HBM demand, and leading-edge logic strength, setting a positive outlook for the market heading into 2027 [6]