Lam Research Hits Record High on Earnings Beat and Upbeat Outlook

Overview

• LRCX rose about 4% to a new all-time high of $274.42, extending a roughly 262% gain over the past year.
• The semiconductor equipment maker beat fiscal third-quarter estimates and guided above forecasts for fourth-quarter revenue and margins.
• Company leaders said Lam has already surpassed its financial model that had been set for calendar 2028 and beyond.
• TD Cowen lifted its target to $340 with a Buy rating, while Stifel moved to $325, RBC to $310, and Cantor to $320 as UBS reiterated Buy.
• Analysts cited demand from generative AI and stronger budgets for wafer‑fabrication tools used in chip plants, while highlighting a Piotroski Score of 9 and 20 recent estimate increases.