Argus Raises Lam Research Price Target to $280

Argus analyst Jim Kelleher raised the price target on Lam Research (NASDAQ: LRCX) to $280.00 (from $275.00) while maintaining a Buy rating.

“BUY-rated Lam Research Corp.

(NGS: LRCX) rose 4% in a down market on January 29 after the company posted above- consensus fiscal 2Q26 results and guided above the pre-reporting consensus for fiscal 3Q26.

Fiscal 2Q26 sales were above the midpoint of management’s guidance range, while non-GAAP EPS topped the high end of the range.

Fiscal 2Q26 sales of $5.35 billion were up 22% annually, while non-GAAP EPS of $1.27 rose 39%.

The company in 2Q26 set new records for revenue, adjusted gross margin, adjusted operating margin, and adjusted net income. The company returned to growth in fiscal 2025 after a down FY24.”

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