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.

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