Key Highlights
- Lam Research (LRCX) stock reached a record peak of $300.06, marking approximately 250% growth over 12 months and 73% gains in 2025.
- B. Riley Financial upgraded its price objective to $375 from $350, maintaining a Buy recommendation; shares climbed 2.1% following the announcement.
- Third-quarter fiscal results exceeded projections: earnings per share of $1.47 versus consensus of $1.36, while revenue reached $5.84 billion, representing 23.8% annual growth.
- Out of 34 Wall Street analysts, 26 recommend buying the stock; firms like TD Cowen, Stifel, and Citigroup recently increased their price objectives.
- Institutional ownership comprises 84.61% of LRCX shares; company insiders divested $27.9 million in stock during the previous quarter.
On May 14, Lam Research (LRCX) stock achieved a historic milestone by surpassing $300 per share for the first time, reaching an intraday peak of $300.06. The semiconductor equipment manufacturer’s shares had settled at $289.24 the previous day, before climbing 2.1% on May 13 to approach this significant level. Over the trailing twelve months, the stock has delivered remarkable returns of approximately 250%, with year-to-date performance showing 73% appreciation.
Lam Research Corporation, LRCX
The May 13 rally followed B. Riley Financial’s decision to elevate its price objective on LRCX from $350 to $375, while reaffirming its Buy stance. During that trading session, shares peaked at $298.98 before settling at $295.44.
This momentum follows exceptional quarterly performance. Lam Research delivered third-quarter fiscal earnings of $1.47 per share, surpassing analyst estimates of $1.36. The company generated $5.84 billion in revenue, reflecting 23.8% year-over-year expansion.
For the fourth fiscal quarter, company leadership projected earnings between $1.50 and $1.80 per share, exceeding Wall Street’s expectations. Gross profit margins are nearing the 50% threshold, with management forecasting continued expansion.
Wall Street Maintains Strong Buy Conviction
Among 34 analysts tracking Lam Research, 26 issue Buy recommendations while eight maintain Hold ratings. The average price target sits at $291.75, though numerous firms have recently established targets considerably higher.
Stifel elevated its objective to $325 following the quarterly report, preserving its Buy rating. TD Cowen increased its target to $340, highlighting market share expansion in foundry and DRAM segments, alongside anticipated growth in NAND manufacturing equipment. Citigroup maintains a Buy recommendation with a $315 price target. Cantor Fitzgerald repeated its Overweight stance with a $320 objective.
Sanford C. Bernstein raised its target to $325 while maintaining an Outperform rating. Seaport Research launched coverage with a Buy recommendation and $300 target. UBS reaffirmed its Buy rating, drawing parallels to AI-driven expansion cycles experienced by Nvidia and Broadcom.
InvestingPro data reveals that 24 analysts have revised their earnings projections upward for the coming period. However, the platform’s analysis suggests LRCX currently trades above its Fair Value calculation.
Executive Transactions and Institutional Holdings
Recent months have witnessed substantial insider selling activity. Chief Financial Officer Douglas Bettinger divested 50,057 shares in early March at an average price of $224.03, generating approximately $11.2 million. Executive Ava Harter sold 6,010 shares on April 27 at $258.66, totaling roughly $1.55 million.
Company insiders have sold a combined 120,066 shares valued at $27.95 million over the past quarter. Current insider ownership stands at 0.31% of outstanding shares, while institutional investors and hedge funds control 84.61% of the company.
Numerous hedge funds established new positions during the fourth quarter of 2024 and first quarter of 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 following the Department of Commerce’s restrictions on equipment shipments to China’s Hua Hong. Nevertheless, Cantor Fitzgerald’s analysis forecasts wafer fabrication equipment spending growth of at least 27% in 2026, which could substantially benefit Lam Research’s order pipeline.
