Lam Research

Wells Fargo analyst Joseph Quatrochi maintains Lam Research (NASDAQ:LRCX) with a Equal-Weight and raises the price target from $930 to $980.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target by $130 to $907, 25.5x our FY 2025 (Jun.) EPS view, near peers but well above LRCX’s three-year average (~17x) on rising AI excitement and an improving memory market outlook. We shift our focus to FY 2025 given expectations of accelerated activity during the year, with node advancements expected in 2024 and subsequent ramps boosting business in 2025, along with our expectation of consistent growth in DRAM to support high-bandwidth memory/AI. We raise our FY 2024 EPS view by $0.03 to $29.36 and our FY 25 view by $0.49 to $35.57, supported by bullish peer commentary in the memory space. We initiate our FY 2026 view at $45.49. Despite positive business fundamentals, we think LRCX remains too pricey to upgrade to Buy at

Cantor Fitzgerald analyst C J Muse reiterates Lam Research (NASDAQ:LRCX) with a Neutral and maintains $900 price target.

Lam Research (NASDAQ:LRCX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/20/2024 0.56% Cantor Fitzgerald → $900 Reiterates Neutral → Neutral 02/12/2024 0.56% Cantor Fitzgerald → $900 Reiterates Neutral → Neutral 01/29/2024 0.56% Cantor Fitzgerald → $900 Reiterates Neutral → Neutral 01/29/2024 -1.68% Susquehanna $655 → $880 Maintains Neutral 01/26/2024 1.9% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 8.94% Citigroup $800 → $975 Maintains Buy 01/25/2024 4.47% Mizuho $900 → $935 Maintains Buy 01/25/2024 6.15% Stifel $850 → $950 Maintains Buy 01/25/2024 1.9% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 6.15% Raymond James $850 → $950 Maintains Outperform 01/25/2024 -7.82% Barclays $750 → $825 Maintains Equal-Weight 01/25/2024 0.56% Needham $800 → $900 Maintains Buy 01/23/2024 -7.26% Cantor Fitzgerald → $830 Initiates Coverage On → Neutral 01/19/2024 -5.03% Raymond James $725 → $850 Maintains Outperform 01/16/2024 -5.03% Stifel $750 → $850

Lam Research (NASDAQ:LRCX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/12/2024 -2.02% Cantor Fitzgerald → $900 Reiterates Neutral → Neutral 01/29/2024 -2.02% Cantor Fitzgerald → $900 Reiterates Neutral → Neutral 01/29/2024 -4.2% Susquehanna $655 → $880 Maintains Neutral 01/26/2024 -0.72% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 6.14% Citigroup $800 → $975 Maintains Buy 01/25/2024 1.79% Mizuho $900 → $935 Maintains Buy 01/25/2024 3.42% Stifel $850 → $950 Maintains Buy 01/25/2024 -0.72% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 3.42% Raymond James $850 → $950 Maintains Outperform 01/25/2024 -10.19% Barclays $750 → $825 Maintains Equal-Weight 01/25/2024 -2.02% Needham $800 → $900 Maintains Buy 01/23/2024 -9.64% Cantor Fitzgerald → $830 Initiates Coverage On → Neutral 01/19/2024 -7.46% Raymond James $725 → $850 Maintains Outperform 01/16/2024 -7.46% Stifel $750 → $850 Maintains Buy 01/16/2024 -18.35% Barclays $600 → $750 Maintains Equal-Weight

Lam Research (NASDAQ:LRCX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 5.34% Susquehanna $655 → $880 Maintains Neutral 01/26/2024 9.17% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 16.71% Citigroup $800 → $975 Maintains Buy 01/25/2024 11.92% Mizuho $900 → $935 Maintains Buy 01/25/2024 13.72% Stifel $850 → $950 Maintains Buy 01/25/2024 9.17% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 13.72% Raymond James $850 → $950 Maintains Outperform 01/25/2024 -1.25% Barclays $750 → $825 Maintains Equal-Weight 01/25/2024 7.73% Needham $800 → $900 Maintains Buy 01/23/2024 -0.65% Cantor Fitzgerald → $830 Initiates Coverage On → Neutral 01/19/2024 1.75% Raymond James $725 → $850 Maintains Outperform 01/16/2024 1.75% Stifel $750 → $850 Maintains Buy 01/16/2024 -10.22% Barclays $600 → $750 Maintains Equal-Weight 12/08/2023 -13.82% Morgan Stanley → $720 Downgrades Overweight → Equal-Weight 11/22/2023 -4.24% Redburn Atlantic → $800 Initiates Coverage On →

Lam Research (NASDAQ:LRCX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/26/2024 7.43% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 14.86% Citigroup $800 → $975 Maintains Buy 01/25/2024 10.14% Mizuho $900 → $935 Maintains Buy 01/25/2024 11.91% Stifel $850 → $950 Maintains Buy 01/25/2024 7.43% Goldman Sachs $700 → $912 Maintains Buy 01/25/2024 11.91% Raymond James $850 → $950 Maintains Outperform 01/25/2024 -2.81% Barclays $750 → $825 Maintains Equal-Weight 01/25/2024 6.02% Needham $800 → $900 Maintains Buy 01/23/2024 -2.23% Cantor Fitzgerald → $830 Initiates Coverage On → Neutral 01/19/2024 0.13% Raymond James $725 → $850 Maintains Outperform 01/16/2024 0.13% Stifel $750 → $850 Maintains Buy 01/16/2024 -11.65% Barclays $600 → $750 Maintains Equal-Weight 12/08/2023 -15.18% Morgan Stanley → $720 Downgrades Overweight → Equal-Weight 11/22/2023 -5.76% Redburn Atlantic → $800 Initiates Coverage On → Buy 10/19/2023 -17.54% JP Morgan $720 → $700

Mizuho analyst Vijay Rakesh maintains Lam Research (NASDAQ:LRCX) with a Buy and raises the price target from $900 to $935.

Lam Research (NASDAQ:LRCX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 5.51% Needham $800 → $900 Maintains Buy 01/23/2024 -2.7% Cantor Fitzgerald → $830 Initiates Coverage On → Neutral 01/19/2024 -0.35% Raymond James $725 → $850 Maintains Outperform 01/16/2024 -0.35% Stifel $750 → $850 Maintains Buy 01/16/2024 -12.08% Barclays $600 → $750 Maintains Equal-Weight 12/08/2023 -15.59% Morgan Stanley → $720 Downgrades Overweight → Equal-Weight 11/22/2023 -6.21% Redburn Atlantic → $800 Initiates Coverage On → Buy 10/19/2023 -17.94% JP Morgan $720 → $700 Maintains Overweight 10/19/2023 -17.94% B. Riley Securities $690 → $700 Maintains Neutral 10/13/2023 -6.21% Needham → $800 Upgrades Hold → Buy 10/05/2023 -15.01% UBS $750 → $725 Maintains Buy 09/15/2023 -3.28% Wolfe Research → $825 Initiates Coverage On → Outperform 08/28/2023 -12.08% Stifel $725 → $750 Maintains Buy 07/27/2023 -15.59% Morgan Stanley $550 → $720 Maintains Overweight 07/27/2023 -15.59%

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our price target by $36 to $777, 25x our CY 24 EPS view of $31.07, a premium to Lam’s 3-year historical average (~19x) and above our previous multiple (24x) on LRCX’s rising exposure to key technology inflections and increasing confidence that the memory market is entering an upcycle. We raise our FY 24 (Jun.) EPS view to $29.33 from $28.73 and lower FY 25’s to $35.08 from $35.43. Memory grew to 48% of Dec-Q sales (vs. 38% in Sep-Q), driven by growth in DRAM (31% vs. 23%), largely a result of continuing demand for high-bandwidth memory to support AI applications. We see this continuing in CY 24 and expect memory will account for a larger proportion of sales, supported by stable shipments into China. We

Lam Research Guides For Q3 EPS of $6.50-$8.00 on Revenue of $3.4-$4.0 Billion, Vs CIQ Analyst Consensus of $6.63/Share on Revenue of $3.8 Billion.

Lam Research (LRCX) reported fiscal Q2 GAAP diluted earnings late Wednesday of $7.22 a share, down from $10.77 a year earlier. Analysts surveyed by Capital IQ expected $6.95. Revenue in the quarter ended Dec. 24 was $3.76 billion, down from $5.28 billion a year earlier. Analysts surveyed by Capital IQ expected $3.71 billion. For fiscal Q3, the company said it expects non-GAAP diluted EPS of $7.25, plus or minus $0.75, and revenue of $3.7 billion, plus or minus $300 million. Analysts polled by Capital IQ are looking for EPS of $6.63 on revenue of $3.68 billion.