BofA Raises PT on Lam Research (LRCX), Keeps a Buy Rating

Lam Research Corporation (NASDAQ:LRCX) is one of the High Growth Semiconductor Stocks to Buy Now. On June 23, Bank of America Securities raised the firm’s price target on Lam Research Corporation (NASDAQ:LRCX) from $330 to $480 and maintained a Buy rating on the shares.

​The rating comes after a 16% increase in share price for LRCX over the past month. The gains have been driven by increased AI-related demand for memory and advanced packaging. Management anticipates advanced packaging revenue will grow over 50% in 2026, led by high-bandwidth memory and 3D integration requirements for AI workloads.

​BofA noted that the firm updated its financial model and price targets for the semiconductor industry. As a result, the firm has turned more bullish on the stock and anticipates the global semiconductor industry to reach $2.7 trillion by 2030, up from the previous estimates of $2.3 trillion.

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

While we acknowledge the risk and potential of LRCX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LRCX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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