Mizuho Lam Research · LRCX

Mizuho Raises Lam Research Price Target to $380

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Target
$380
from $330 (+15%)
Outcome
Reached
on June 15, 2026
Mizuho and Lam Research logos

What the analyst said

Mizuho analyst Vijay Rakesh raised the price target on Lam Research (NASDAQ: LRCX) to $380.00 (from $330.00) while maintaining an Outperform rating.

“Raising 2026/2027E WFE to $153B/$190B (prior $142B/$163B), up 23%/24% y/y with AI logic/memory brownfield/greenfield fab capacity, as we see: 1) TSMC C26E Capex at high end of $52-56B with 2nm ramps, we see C27E at $74B, up ~28% y/y, 2) Samsung/MU/others ramping HBM/DRAM CAPEX with total memory WFE spend ~$112B in 2026E, 3) INTC spend growing in 2027E with 18A, with potential advanced packaging with EMIB-T with MTK and domestic foundry deals (e.g.

TSLA), 4) LRCX flagging $40B in node transition spend with majority expected before YE-2027E and 4) China domestic WFE continues to grow ~high-teens% y/y.

With an improving WFE outlook,current LRCX, AMAT, MKSI earnings are UNDERESTIMATED, we see UPSIDE.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

LRCX trades at $185. The 9 analysts who set a target in the last 3 months range from $290 to $400, with a median of $350. This $380 target is 9% above the median.

Since the note LRCX has moved −43% (from $323). 12-month window: day 162 of 365, closes on May 27, 2027.

Track record

This call✓ Target reached on June 15, 2026, 19 days after the note.

Firm track recordMizuho: 88% of its 69 targets at least a year old were reached within 12 months (#2 of 26 firms). Accuracy ranking →

Mizuho on Lam Research

Mizuho price targets on Lam Research

7 calls from January 28, 2026 to October 22, 2026. The target went from $265 to $360 (+36%). The rating stayed Buy.

Mizuho targetLRCX share price
  1. October 22, 2026Target cut from $365 (−1%)Buy$360
  2. August 25, 2026Target cut from $370 (−1%)Buy$365
  3. July 30, 2026Target cut from $400 (−8%)Buy$370
  4. July 9, 2026Target raised from $380 (+5%)Buy$400
  5. May 27, 2026 This noteTarget raised from $330 (+15%)Buy$380
  6. April 23, 2026Target raised from $265 (+25%)Buy$330
  7. January 28, 2026Earliest call shownBuy$265
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Other analysts on Lam Research

Lynx Equity Kept rating and price target Oct 28 $400maintained BernsteinBuy Cut price target −9%, kept rating Oct 22 $350from $385 UBSBuy Cut price target −6%, kept rating Oct 22 $400from $425 Morgan StanleyBuy Cut price target −12%, kept rating Oct 22 $339from $385 Bank of AmericaBuy Cut price target −10%, kept rating Oct 22 $345from $385
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.