Lam Research (LRCX) Stock Hits Record High as Analysts Pile On Buy Ratings

TLDR

• LRCX hit an all-time high of $349.21, up roughly 279% over the past year
• Q3 EPS came in at $1.47, beating estimates of $1.36, on revenue of $5.84 billion
• Analysts at Mizuho, Cantor Fitzgerald, and UBS have all raised price targets recently
• Myriad Asset Management took a new $2.18 million position in LRCX in Q4
• The company declared a $0.26 quarterly dividend payable July 8, 2026

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Lam Research (LRCX) hit an all-time high of $349.21 on June 11, closing in on its 52-week high of $349.09. The stock has surged roughly 279% over the past year, powered by strong earnings and growing institutional appetite.

Lam Research Corporation, LRCX

The stock opened Thursday at $321.80. Its 50-day moving average sits at $280.23, and its 200-day at $231.09, reflecting how sharply it has climbed.

LRCX posted Q3 EPS of $1.47, beating the $1.36 consensus estimate by $0.11. Revenue came in at $5.84 billion, topping forecasts of $5.70 billion and up 23.8% year over year. In the same quarter last year, EPS was $1.04.

For Q4 2026, Lam Research has guided EPS in the range of $1.50 to $1.80. Analysts on average expect full-year EPS of $5.67.

Return on equity stood at 66.21%, with a net margin of 30.94%.

Analyst Targets Keep Moving Higher

Mizuho set a $380 price target with an outperform rating, pointing to AI-driven growth in wafer fabrication equipment. Cantor Fitzgerald went higher, setting a $425 target and calling out AI-driven advanced packaging as a key catalyst.

UBS lifted its target to $375 from $310. Barclays raised its target to $335 from $275, keeping an equal weight rating. Jefferies moved its target to $315 from $285 with a buy rating.

The consensus across 34 analysts is a Moderate Buy, with an average price target of $322.01. Twenty-seven have a Buy rating; seven have a Hold.

Morgan Stanley upgraded LRCX to Overweight, projecting NAND systems growth picking up by 2027.

One headwind: U.S. Department of Commerce restrictions on tool shipments to China’s Hua Hong have added pressure on several chip equipment makers, including Lam Research.

Institutions Keep Buying

Myriad Asset Management Advisors took a new $2.18 million stake in LRCX during Q4, picking up 12,760 shares.

Vanguard holds 130.97 million shares valued at roughly $17.5 billion. State Street holds 59.8 million shares worth about $8 billion. Norges Bank opened a new position worth approximately $3.6 billion in Q4. Invesco lifted its stake by 18.2% to 21.18 million shares.

In total, institutional investors own 84.61% of LRCX.

On the insider side, SVP Neil Fernandes sold 18,170 shares on May 1 at an average of $255.14, totaling about $4.6 million. That sale came under a pre-arranged Rule 10b5-1 plan. Insiders sold 31,839 shares worth roughly $8.56 million over the past 90 days.

InvestingPro data shows 24 analysts have revised earnings upward for the upcoming period, though it flags the stock as currently trading above its Fair Value estimate.

The company also declared a $0.26 quarterly dividend, payable July 8 to holders of record as of June 17. That equals $1.04 annualized, a yield of roughly 0.3%. The payout ratio sits at 19.62%.

The stock carries a P/E of 60.72, a P/E/G of 2.71, and a beta of 1.85. Market cap stands at approximately $434 billion.