RBC Capital analyst Srini Pajjuri raised the price target on Lam Research (NASDAQ: LRCX) to $310.00 (from $290.00) while maintaining an Outperform rating.

“DRAM Drives Another Strong Quarter; WFE Outlook Better; LRCX delivered a solid beat/raise driven by GenAI demand and share gains.

Management raised 2026 WFE to $140B (vs prior $135B) and expects momentum to continue into 2027. DRAM was particularly strong in the quarter and NAND outlook is also improving.

China exposure declined slightly while CSBG is sustaining double-digit growth.

Looking ahead, we expect healthy WFE environment to continue for the next 2-3 years driven by GenAI demand and Memory tightness.

LRCX has made solid progress in Foundry/Logic, and Tech transitions (MolyB/BSP/4F2 ) present additional tailwinds. We raise PT to $310 and reiterate Outperform.”

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Tracking this call

Since this note+26% LRCX $265.55 → $333.89 (Oct 7) · target reached

This callScored on Oct 23, 2026, six months after the note: did LRCX reach $310?

Firm track recordRBC Capital reached 82% of its 39 scored targets within six months (#3 of 31 firms); on Lam Research, 2 of 2. Accuracy ranking →

Earnings reactionOne of 13 notes after Lam Research’s Apr 22 results: 11 of 13 raised targets. See every call →
RBC Capital on Lam Research · target history
Jan 14, 2026 · $260 · Buy Jan 29, 2026 · $290 · Buy Apr 23, 2026 · $310 · Buy · this note
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Other Lam Research notes

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