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Lam Research: Strong Q1 Performance and Optimistic Outlook Justify Buy Rating Despite Anticipated H2 Challenges

Lam Research: Strong Q1 Performance and Optimistic Outlook Justify Buy Rating Despite Anticipated H2 Challenges

Analyst Charles Shi from Needham maintained a Buy rating on Lam Research (LRCXResearch Report) and decreased the price target to $80.00 from $96.00.

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Charles Shi has given his Buy rating due to a combination of factors including Lam Research’s strong performance in the first quarter of 2025 and its optimistic revenue guidance for the second quarter, which surpasses market expectations. Despite the anticipated decline in the latter half of the year due to macroeconomic uncertainties and potential tariff impacts, the company has demonstrated resilience in its market segments.
Shi acknowledges that while Lam Research is the only semiconductor capital equipment company forecasting a weaker second half, the company’s current performance and potential market positioning justify a Buy rating. The revised price target reflects a cautious yet optimistic outlook, considering both the company’s strengths and the broader market conditions.

In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $92.00 price target.

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