B. Riley Securities Raises Lam Research (LRCX) PT to $115, Keeps Buy Rating

Lam Research Corporation (NASDAQ:LRCX) is one of the best QQQ stocks to buy according to hedge funds. On June 18, B. Riley Securities analyst Craig Ellis raised the price target for Lam Research from $95 to $115, while maintaining a Buy rating on the shares. The adjustment cited ample upside room ahead due to the company’s strong financial targets and robust growth in new product revenue and market share.

In FQ3 2025, the company achieved a revenue of $4.72 billion, which was an 8% increase from the prior quarter. Key revenue compositions for the quarter included Memory at 43%, Foundry at 48%, and Logic and Other at 9%. Regionally, China contributed 31% of the revenue, with Taiwan and Korea each accounting for 24%.

Lam Research demonstrated leadership in virtual fabrication with new licensing agreements for its SEMulator3D platform in the quarter. However, the company experienced a decrease in memory systems revenue, as well as logic and other systems revenue, due to reduced leading-edge spending.

Lam Research Corporation (NASDAQ:LRCX) designs, manufactures, markets, refurbishes, and services 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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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