Key Highlights
- Lam Research (LRCX) achieved a record high of $300.06, marking approximately 250% growth over 12 months and 73% gains in 2025.
- B. Riley Financial elevated its price objective to $375 from $350 while maintaining a Buy recommendation; shares climbed 2.1% following the announcement.
- Third quarter fiscal results exceeded projections: earnings per share reached $1.47 versus anticipated $1.36, while revenue hit $5.84 billion, representing 23.8% annual growth.
- Among 34 Wall Street analysts, 26 recommend buying the stock; firms like TD Cowen, Stifel, and Citigroup recently increased their price objectives.
- Institutional ownership accounts for 84.61% of LRCX shares; company insiders liquidated $27.9 million in stock during the previous quarter.
On May 14, Lam Research (LRCX) shares breached the $300 threshold for the first time in company history, reaching an intraday peak of $300.06. Following a close at $289.24, the semiconductor equipment manufacturer saw a 2.1% jump on May 13, propelling it toward this milestone. Over the trailing 12-month period, shares have skyrocketed approximately 250%, while posting 73% gains since January.
Lam Research Corporation, LRCX
The May 13 surge followed B. Riley Financial’s decision to increase its price objective on LRCX from $350 to $375, accompanied by a reiterated Buy recommendation. During that trading session, shares peaked at $298.98 before settling at $295.44.
This momentum builds upon impressive quarterly results. Lam Research delivered fiscal third-quarter earnings per share of $1.47, exceeding the Street consensus of $1.36. The company generated $5.84 billion in revenue, representing a 23.8% increase compared to the prior-year period.
Executives provided fiscal fourth-quarter EPS guidance ranging from $1.50 to $1.80, surpassing analyst expectations. Gross profit margins are nearing the 50% threshold, with company forecasts indicating continued expansion.
Wall Street Maintains Strong Positive Outlook
Among the 34 analysts tracking the stock, 26 have assigned Buy recommendations while eight suggest Hold positions. The average price target sits at $291.75, though numerous firms have recently established targets significantly higher.
Stifel increased its objective to $325 following the Q3 report, keeping its Buy stance. TD Cowen elevated its target to $340, highlighting market share expansion in foundry and DRAM sectors, along with prospective NAND wafer fabrication equipment growth. Citigroup maintains a Buy rating with a $315 projection. Cantor Fitzgerald reaffirmed its Overweight designation with a $320 target.
Sanford C. Bernstein lifted its price objective to $325 with an Outperform rating. Seaport Research launched coverage with a Buy rating and $300 target. UBS maintained its Buy recommendation, drawing parallels to the AI-driven expansion cycle observed in Nvidia and Broadcom.
InvestingPro noted that 24 analysts revised their earnings projections upward for the coming period. However, the platform also indicated that LRCX appears overvalued compared to its Fair Value calculation.
Corporate Insider Activity and Institutional Holdings
Recent insider transactions show significant selling pressure. Chief Financial Officer Douglas Bettinger divested 50,057 shares in early March at an average of $224.03 per share, a transaction valued at approximately $11.2 million. Executive Ava Harter sold 6,010 shares on April 27 at $258.66 each, totaling about $1.55 million.
Company insiders collectively disposed of 120,066 shares valued at $27.95 million during the most recent quarter. Insider ownership currently represents 0.31% of outstanding shares, while institutional investors and hedge funds control 84.61%.
Multiple hedge funds established fresh positions during Q4 2024 and Q1 2025. Lam Research’s market capitalization currently stands at $372.7 billion.
A persistent challenge remains: U.S. semiconductor equipment manufacturers including LRCX encountered obstacles after the Department of Commerce implemented restrictions on tool exports to China’s Hua Hong. Cantor Fitzgerald’s forecast anticipates wafer fabrication equipment spending growth of at least 27% in 2026, which could benefit Lam Research’s future order volume.
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