Top 10 Tech Stocks in Louis Navellier’s Portfolio

7. Lam Research Corporation (NASDAQ:LRCX)

Stock Upside Potential: 16.91%

Navellier & Associates Equity Stake: $7.30 Million

Number of Hedge Fund Holders: 104

Lam Research Corporation (NASDAQ:LRCX) is one of the top tech stocks in Louis Navellier’s portfolio. On May 5, Seaport Research analyst Jay Goldberg initiated coverage of Lam Research Corporation (NASDAQ:LRCX) with a Buy rating and $300 price target.

The bullish stance comes amid expectations that the company is well-positioned to benefit as the wafer fabrication equipment industry enters one of the strongest cycles in recent history. The sector is experiencing massive secular demand for compute amid the artificial intelligence revolution. In addition, opportunities are emerging amid the complexity and intensity required to build leading-edge semiconductors.

Seaport Research expects Lam Research Corp to benefit from the strong cycle, especially in the memory segment. The sentiments come amid the company delivering record revenue and earnings per share in the March quarter, as AI-driven demand continues to reshape the semiconductor industry. Revenue totaled $5.84 billion compared to $5.34 billion for the December quarter. Diluted earnings per share also improved to $1.47 from $1.27 in the December quarter.

Lam Research Corporation (NASDAQ:LRCX) is a leading global supplier of innovative wafer fabrication equipment and services used by semiconductor companies to create chips. They design and manufacture machines that perform critical processes—such as etching and deposition—to build smaller, faster, and more efficient microchips for electronic devices.