Lam Research Corporation is trading at $6.47 (+8.38%) following the announcement of record financial results for the third quarter of fiscal year 2026, driven by high demand for AI chips.
- Record Results: The company reported its third consecutive record quarter with total revenue reaching $5.84 billion, up 24% year-over-year. The Customer Support Business Group (CSBG) surpassed $2 billion in quarterly revenue for the first time.
- Upgraded Forecast: Lam Research raised its 2026 forecast for the wafer fabrication equipment (WFE) industry to $140 billion, indicating expectations for stronger spending in semiconductor manufacturing.
- Analyst Confidence: Reflecting the positive results and outlook, UBS raised its price target on Lam Research to $375 from $310.