Needham analyst Charles Shi reiterated a Buy rating on Lam Research Corp. on July 10, 2026. Shi increased the price target from $300 to $390, representing a 30% hike.
The revised target reflects a strong outlook for the semiconductor equipment manufacturer despite high valuation metrics. Growth expectations stem from rising demand for AI-related chips and advanced packaging trends. Lam Research specializes in wafer fabrication equipment essential for integrated circuit production.
The company maintains a market capitalization of approximately $441.66 billion. The stock has delivered a year-to-date return exceeding 100%.