TLDR
- Lam Research (LRCX) hit an all-time high of $300.06, up roughly 250% over the past year and 73% year-to-date.
- B. Riley Financial raised its price target to $375 from $350, reiterating a Buy rating; the stock rose 2.1% on the news.
- Fiscal Q3 results beat estimates: EPS of $1.47 vs. $1.36 expected, with revenue of $5.84 billion, up 23.8% year over year.
- 26 of 34 analysts rate the stock a Buy; multiple firms including TD Cowen, Stifel, and Citigroup have recently raised their price targets.
- Institutional investors and hedge funds hold 84.61% of LRCX; insiders sold $27.9 million worth of stock in the last quarter.
Lam Research (LRCX) stock crossed $300 for the first time ever on May 14, touching an intraday high of $300.06. The stock had previously closed at $289.24, before a 2.1% gain on May 13 pushed it near that threshold. The stock is now up around 250% over the past 12 months and 73% year-to-date.
Lam Research Corporation, LRCX
That move on May 13 came after B. Riley Financial raised its price target on LRCX to $375 from $350, while keeping a Buy rating. The stock traded as high as $298.98 that session and last changed hands at $295.44.
The recent price action builds on a strong earnings report. Lam Research posted fiscal Q3 EPS of $1.47, topping the $1.36 consensus estimate. Revenue came in at $5.84 billion, up 23.8% from the same period a year ago.
Management guided for fiscal Q4 EPS of $1.50 to $1.80, which also came in ahead of expectations. Gross margins are approaching 50%, with guidance pointing to further improvement.
Analyst Sentiment Remains Firmly Bullish
Of 34 analysts covering the stock, 26 have Buy ratings and eight have Hold ratings. The consensus price target is $291.75, though several firms have recently set targets well above that.
Stifel raised its target to $325 after the Q3 print, maintaining a Buy. TD Cowen went to $340, citing share gains in foundry and DRAM markets, plus potential growth in NAND wafer fabrication equipment. Citigroup holds a Buy with a $315 target. Cantor Fitzgerald reiterated an Overweight rating with a $320 target.
Sanford C. Bernstein bumped its target to $325 with an Outperform rating. Seaport Research initiated coverage with a Buy and a $300 target. UBS reiterated Buy, pointing to an AI-driven growth cycle comparable to Nvidia and Broadcom.
InvestingPro flagged that 24 analysts revised their earnings estimates upward for the upcoming period. At the same time, the platform flagged LRCX as currently overvalued relative to its Fair Value estimate.
Insider Sales and Institutional Ownership
On the insider front, there has been notable selling activity. CFO Douglas Bettinger sold 50,057 shares in early March at an average price of $224.03, a transaction worth roughly $11.2 million. Insider Ava Harter sold 6,010 shares on April 27 at $258.66, totaling around $1.55 million.
Insiders collectively sold 120,066 shares worth $27.95 million in the last quarter. Insiders now own 0.31% of the company, with institutional investors and hedge funds holding 84.61%.
Several hedge funds added new positions in Q4 2024 and Q1 2025. Lam Research’s market cap now stands at $372.7 billion.
One ongoing risk: U.S. chip equipment makers including LRCX faced headwinds after the Department of Commerce restricted tool shipments to China’s Hua Hong. Cantor Fitzgerald’s outlook projects wafer fabrication equipment spending growth of at least 27% in 2026, which would be a tailwind for Lam Research’s order book.
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