Lam Research, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Joseph Quatrochi from Wells Fargo maintained a Hold rating on the stock and has a $98.00 price target.
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Joseph Quatrochi has given his Hold rating due to a combination of factors influencing Lam Research’s performance and outlook. Despite the company delivering a strong earnings beat and raising its guidance, the stock faced pressure due to the anticipated upside being largely driven by increased spending in China, which was already expected by investors. Additionally, the implied revenue guidance for the fourth quarter of 2025 suggests a significant sequential decline, raising concerns about the sustainability of current growth levels.
Moreover, while Lam Research has adjusted its WFE outlook upwards due to better-than-expected demand from China, the overall non-China outlook remains stable, and the company has not provided guidance for 2026. The company’s CSBG outlook has improved, but the growth is modest. These elements, combined with the company’s financial performance and market expectations, contribute to a cautious stance, leading to the Hold rating.
In another report released today, Barclays also maintained a Hold rating on the stock with a $83.00 price target.
LRCX’s price has also changed moderately for the past six months – from $80.730 to $99.090, which is a 22.74% increase.