Lam Research (LRCX) Surges 6.27% as 3 Firms Turn Bullish

We recently published 10 Firms Stealing the Show on Wall Street. Lam Research Corporation (NASDAQ:LRCX) is one of the best performers on Thursday.

Lam Research snapped a two-day losing streak on Thursday, jumping 6.27 percent to close at $164.70 apiece as investor sentiment was boosted by bullish ratings and price target upgrades for the stock.

In separate market reports on the same day, investment firm Mizuho and B. Riley raised their price targets for the company to $200 and $195, respectively.

The said figures represented a 21.4 percent and 18 percent upside from its latest closing price.

Mizuho also issued an “outperform” rating while B. Riley maintained its “buy” recommendation.

For Mizuho, the price target upgrade reflected its confidence about further upside for Lam Research Corporation (NASDAQ:LRCX) in 2026, especially with a generally positive outlook for the overall wafer fab equipment.

Meanwhile, B. Riley said that its recommendation reflected its confidence about Lam Research Corporation’s (NASDAQ:LRCX) superior memory exposure and leadership in the etching tools, coupled with customers’ higher spending on memory chips.

Earlier this week, Lam Research Corporation (NASDAQ:LRCX) also maintained its “buy” recommendation from investment firm Jefferies, alongside a price target of $200.

Lam Research Corporation (NASDAQ:LRCX) is a global supplier of advanced WFE and services for the semiconductor industry. In the third quarter of the year, it grew its net income by 40 percent to $1.57 billion from $1.12 billion in the same period last year.

Revenues increased by 27 percent to $5.3 billion from $4.17 billion year-on-year.

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