Bernstein Raises PT on Lam Research Corporation From $95 to $105, Keeps Outperform Rating

Lam Research Corporation (NASDAQ:LRCX) is one of the 12 Best Semiconductor Equipment Stocks to Buy Right Now. On August 26, Bernstein raised the price target on Lam Research Corporation (NASDAQ:LRCX) from $95 to $105, keeping its Outperform rating on the stock.

Stacy Rasgon from Bernstein increased the price target on LRCX following strong Q4 FY2025 results. The company achieved $5.17 billion in revenue, exceeding estimates by $167.07 million, while the adjusted earnings came in at $1.33 per share, surpassing consensus by $0.12. Lam Research reported 50.3% gross margins, with a notable increase in cash reserves to $6.4 billion.

Rasgon pointed out that the company’s Q4 results were good due to China’s system strength. The company’s foundry sales were robust, rising nearly 23% from the previous quarter to $1.8 billion. The analyst said that NAND spending was also a key driver, with spending up 53% sequentially. Lam Research remains optimistic on its growth trajectory through 2026, backed by new products and a 23.7% revenue growth in FY2025. The company anticipates Q1 FY2026 revenue of around $5.20 billion plus/minus $300 million. After a strong end to FY2025, on August 28, Lam’s Board approved a 13% increase in its quarterly dividend, from $0.23 to $0.26 per share.

Lam Research Corporation (NASDAQ:LRCX) designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits (ICs).

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Disclosure: None. This article is originally published at Insider Monkey.