Lam Research stock (US5324571083): Shares up 2.1% on B. Riley upgrade

Lam Research shares climbed 2.1% on May 13, 2026, after B. Riley Financial raised its price target to $375 from $350 while reiterating a buy rating, amid recent strong Q3 earnings.

Lam Research Corporation shares rose 2.1% on Wednesday, May 13, 2026, following an analyst upgrade from B. Riley Financial, which lifted its price target to $375 from $350 and maintained a buy rating, MarketBeat as of 05/13/2026. The stock reached a high of $298.98 and last traded around $295.44. This move comes after the company reported strong Q3 FY2026 results, with EPS of $1.47 beating estimates of $1.35 and revenue of $5.84 billion topping $5.73 billion expected, up 24% year-over-year, Investing.com as of 05/14/2026.

As of: 14.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: Lam Research Corporation
• Sector/industry: Semiconductor equipment
• Headquarters/country: United States
• Core markets: Global semiconductor industry
• Key revenue drivers: Wafer fabrication equipment and services
• Home exchange/listing venue: Nasdaq (LRCX)
• Trading currency: USD

Lam Research: core business model

Lam Research Corporation is a leading global supplier of wafer fabrication equipment and services to the semiconductor industry. The company designs, manufactures, and services equipment used in the production of integrated circuits, focusing on etch, deposition, and clean processes essential for advanced chip manufacturing. With operations worldwide, Lam Research supports major chipmakers in scaling production for AI, 5G, and high-performance computing applications.

Main revenue and product drivers for Lam Research

The company's revenue is primarily driven by sales of semiconductor processing equipment, with key segments including systems products and global services. In Q3 FY2026, reported recently, revenue reached $5.84 billion, reflecting robust demand for wafer fabrication tools amid industry expansion, Investing.com as of 05/14/2026. Services, including spares, repairs, and upgrades, provide recurring income, while systems sales fluctuate with customer capital spending cycles.

Etch and deposition tools form the core of Lam Research's portfolio, critical for creating nanoscale features in semiconductors. The firm benefits from trends like AI chip demand and advanced nodes below 3nm, positioning it as a key enabler for US-based foundries and logic manufacturers.

Industry trends and competitive position

The semiconductor equipment sector is experiencing growth driven by AI, data centers, and automotive electrification, with wafer fab equipment projected to expand significantly. Lam Research holds a strong position alongside peers like Applied Materials, capturing share in high-margin etch and deposition markets. Its technology leadership supports US investors through exposure to domestic giants like Intel and TSMC's US fabs.

Why Lam Research matters for US investors

As a Nasdaq-listed leader in semiconductor tools, Lam Research offers US investors direct exposure to the booming chip sector, fueled by CHIPS Act investments and AI growth. The company's Fremont, California headquarters and US manufacturing underscore its role in strengthening domestic supply chains amid geopolitical shifts.

Conclusion

Lam Research continues to demonstrate resilience with recent earnings beats and positive analyst actions like B. Riley's upgrade, reflecting strength in semiconductor demand. Shares have shown upward momentum, trading near $295 amid a consensus price target of around $292. Investors track upcoming quarters for sustained growth in AI and advanced tech exposure.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.