Analyst Upgrades PT on Lam Research After Q3 Earnings, What’s Next?

With a five-year forward EPS growth rate of almost 20%, Lam Research Corporation (NASDAQ:LRCX) makes it to the best long-term tech stocks to buy according to hedge funds.

Lam Research made notable developments during the Q3 FY2026, surpassing market expectations and keeping the ongoing AI-driven demand for semiconductor segment. The company posted $5.84 billion in total revenue, up 9% year-over-year, while adjusted earnings per share reached a record high of $1.47. Lam’s gross margin was around 49.8%, and its operating margins were at 35%. China continues to remain the largest market for Lam, contributing 34% to the revenue, with South Korea and Taiwan each putting in 23%.

On April 23, Oppenheimer analyst Edward Yang lifted the price target on Lam Research from $265 to $330, maintaining an Outperform rating. Lam’s bullish outlook on LRCX is based on beating the higher-end of market expectations driven by the Customer Support Business Group and China, and a standout outlook for Q4. The company projected fourth quarter revenue to be around $6.60 billion, with gross margins anticipated to grow to 50.5% and operating margins to around 36.5%.

Out of 36 analysts, 27 have a Buy rating on LRCX and 8 have a Hold rating. The stock has a median price target of $315, which highlights an upside of more than 21%.

Lam Research Corporation (NASDAQ:LRCX) supplies semiconductor manufacturing equipment and services globally.

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