Key Highlights

  • Lam Research beat Q1 estimates with EPS of $1.47 versus $1.36 expected.
  • Revenue came in at $5.84 billion, up 23.8% year over year.
  • Needham, Mizuho, Stifel, and Bank of America have all raised price targets in recent weeks.
  • The consensus rating remains "Moderate Buy" with an average target of $358.67.

Lam Research (NASDAQ: LRCX) recently beat Q1 estimates with EPS of $1.47, versus $1.36 expected, on revenue of $5.84 billion, up 23.8% year over year.

What Happened

Multiple analysts have raised price targets in recent weeks, including Needham ($390), Mizuho ($400), Stifel ($425), and Bank of America ($480).

The consensus rating remains "Moderate Buy" with an average target of $358.67, according to the disclosed information.

Market Reaction

These fundamental results and analyst price target increases support the company's rebound as chip stocks broadly recover from last week's sell-off.

The range of analyst targets, from $390 to $480, reflects a broadly bullish view following the Q1 results.

Outlook

With a Moderate Buy consensus and an average target of $358.67 following the Q1 beat, analyst sentiment on Lam Research remains constructive.

How did Lam Research perform in Q1?

The company beat estimates with EPS of $1.47 versus $1.36 expected, on revenue of $5.84 billion, up 23.8% year over year.

Which analysts raised price targets on Lam Research?

Needham ($390), Mizuho ($400), Stifel ($425), and Bank of America ($480) all raised targets in recent weeks.

What is the consensus rating on Lam Research?

The consensus remains "Moderate Buy" with an average target of $358.67.