B. Riley Liftes PT on Lam Research Corporation to $310, Reiterates Buy Rating

Lam Research Corporation (NASDAQ:LRCX) is one of the 10 Hottest Stocks to Buy in 2026.

On January 29, TheFly reported that B. Riley lifted the price target on Lam Research Corporation (NASDAQ:LRCX) from $255 to $310, keeping the Buy rating on the stock.

Craig Ellis from B. Riley raised the price target on Lam Research as the company exceeded Q2 FY2026 earnings and Q3 guidance. On January 28, Lam Research reported its Q2 results, with earnings and revenue beating analyst estimates. The company’s adjusted earnings per share of $1.27 surpassed the consensus by $0.10 and were up 33.79% year-over-year. The revenue came in at $5.34 billion, up from the expected $5.21 billion.

Ellis said that the financial results reflect Lam Research’s strong execution, accelerating demand, and continued pull-ins across customers. The analyst expects 100 basis points of share gains in 2026, around 25% year-over-year sales growth, and robust demand heading into 2027. Lam is positive for its growth in 2026 and expects revenue between $5.4 billion and $6 billion. The robust demand across the semiconductor industry, driven by AI applications make Lam Research a key player in the market.

Over the last year, through January 30, Lam Research Corporation (NASDAQ:LRCX) has gained over 188%, one of the highest returns in that period.

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

While we acknowledge the potential of LRCX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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