Morningstar raised its fair value estimate for Lam Research to $310 from $220.
The semiconductor company reported a 30% year-over-year increase in June-quarter sales. September quarter guidance projects 52% year-over-year growth at the midpoint.
Accelerating AI infrastructure investments are fueling a significant buildout in chip supply. Lam Research increased its long-term margin targets by 500 to 1,000 basis points compared to 2025 goals.