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Valued at a market cap of $294.1 billion, Fremont, California-based Lam Research Corporation (LRCX) designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States and internationally.
Shares of Lam Research have outperformed the broader market over the past 52 weeks. LRCX stock has surged 182.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 11.8%. Moreover, shares of the company are up 37.6% on a YTD basis, compared to SPX’s marginal decline.
Narrowing the focus, LRCX stock has also outperformed the State Street Technology Select Sector SPDR ETF’s (XLK) 16.7% rise over the past 52 weeks.
On Jan. 29, LRCX shares grew 3.6% following the release of its better-than-expected Q2 2026 earnings. The company’s revenue increased 22.1% year-over-year to $5.3 billion and came on top of Wall Street estimates. Moreover, its adjusted EPS amounted to $1.27, also beating the Street’s expectations. Lam Research expects its fiscal third year EPS and revenue to be in the range of $$1.25 to $1.45 and $5.4 billion to $6 billion, respectively.
For the fiscal year ending in June 2026, analysts expect LRCX's EPS to grow 27.1% year-over-year to $5.26. The company's earnings surprise history is strong. It beat the consensus estimates in the last four quarters.
LRCX stock has a consensus “Strong Buy” rating overall. Of the 32 analysts covering the stock, opinions include 23 “Strong Buys,” three “Moderate Buys,” and six “Holds.”
On Jan. 29, Goldman Sachs analyst Toshiya Hari maintained a “Buy” rating on LRCX stock and raised its price target from $180.00 to $262.
The mean price target of $279.33 indicates a 18.6% premium to LRCX’s current price levels. Its Street-high target of $325 suggests a 38% potential upside.
On the date of publication, Sristi Jayaswal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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