Needham raised the firm’s price target on Lam Research (LRCX) to $300 from $250 and keeps a Buy rating on the shares. The company delivered its “usual” beat-and-raise quarter, with the highlight of the call being the 2026 WFE outlook, which is seen at $135B, up 23% y/y from approximately $110B in 2025, the analyst tells investors in a research note. Lam Research expects to outperform WFE growth this year again, although the magnitude of outperformance is projected to be narrower than last year, Needham added.
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