Mizuho Lam Research · LRCX

Mizuho Raises Lam Research Price Target to $400

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Target
$400
from $380 (+5%)
Upside
+116%
LRCX at $185 today
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What the analyst said

Mizuho analyst Vijay Rakesh raised the price target on Lam Research (NASDAQ: LRCX) to $400 (from $380) while maintaining an Outperform rating.

“We see upside to WFE estimates in 2027-29E as AI demand support durable ramps for leading edge logic and memory.

Key points: 1) raising our ests for global WFE in 2027E to $192B (up 25% y/y following C26E up 23% y/y) and introducing 2028/29E at $221B/$214B (up 15%/down 3% y/y) with upside capex as AI/Memory/foundry drive multi-year ramps, 2) memory spend strong with HBM capex accelerating into 2027-28E as OEMs increase capacity and prepare for 2028E SOP as supply-demand gap continues to grow given a global memory shortage, potential additional upside from HBF, and 3) advanced packaging capex accelerating with CoPoS/EMIB and industry constrained near-term, with TSMC potentially accelerating CoWoS capacity to ~140kwpm YE-2026E and >200kwpm YE-2027E with GPU/ASIC ramps, CoPoS potentially pulled-in to 2H27E/2028E.

Reiterate Outperform across our coverage. Raise estimates/PTs for AMAT ($650), LRCX ($400) and MKSI ($415).”

Disclaimer
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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 $400 target is 14% above the median, the highest on the Street.

Since the note LRCX has moved −44% (from $333). 12-month window: day 119 of 365, closes on July 9, 2027.

Track record

This callOpen: LRCX has not reached $400 yet. This 12-month target is scored on July 9, 2027.

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, 2026 This noteTarget raised from $380 (+5%)Buy$400
  5. May 27, 2026Target 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.