Evercore cuts target for Lam Research stock to USD 315

Published on 10/21/2026 at 11:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Evercore cuts its target to USD 315 on October 20, 2026. Lam Research stock trades at EUR 240.33 on October 21, 2026 with a USD 329.7 billion market value.

Targets and earnings guidance

Evercore ISI cut its Lam Research target to USD 315 on October 20, 2026.
Lam Research guided for USD 8.10 billion in revenue and a 52.00 percent gross margin for the September quarter.
Lam Research stock trades at EUR 240.33 at 11:35 a.m. CEST at Lang & Schwarz on October 21, 2026.

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Lam Research (ISIN US5128073062) was trading at EUR 240.33 at Lang & Schwarz on October 21, 2026, while Evercore ISI cut its price target to USD 315 from USD 355 on October 20, 2026. The move keeps the semiconductor equipment maker under scrutiny before its quarterly report.

According to Markets Insider, Evercore retained an Outperform rating but cited late-cycle valuation pressure despite expectations for a strong report. The target change contrasts with Deutsche Bank's October 19 increase to USD 375 from USD 320, reported by Yahoo Finance.

Three dates show the changing view

Lam Research posted USD 6.72 billion in revenue for the quarter ended June 28, 2026, up 30.00 percent year over year, according to Yahoo Finance. On October 19, Deutsche Bank lifted its target to USD 375 from USD 320. On October 20, Evercore ISI reduced its target to USD 315 from USD 355.

What does the guidance imply?

Lam Research guided for USD 8.10 billion in September-quarter revenue, plus or minus USD 400.0 million, non-GAAP gross margin of 52.00 percent plus or minus 1.00 percentage point, and operating margin of 39.50 percent plus or minus 1.00 percentage point. The guidance is the benchmark for the report scheduled for October 21, 2026, after the close, as reported by EarningsMadness.

Reporting date sets the next test

The next reporting event is Lam Research's September-quarter results on October 21, 2026, followed by the earnings call at 5:00 p.m. ET. For investors, the key tension is clear: revenue guidance points to another large step up, while Evercore's lower target highlights the risk that valuation expectations have moved ahead of execution.

Lam Research stock at Lang & Schwarz

Lam Research was trading at EUR 240.33 at Lang & Schwarz on October 21, 2026 at 11:35 a.m. CEST. The latest primary-market quote was USD 263.45 on October 20, 2026, with Nasdaq as the primary exchange.

The further course of trading is shown by the continuously updated real-time quote of Lam Research stock.