Needham analyst Charles Shi maintained a Buy rating on Lam Research today and set a price target of $160.00.
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Charles Shi has given his Buy rating due to a combination of factors, including Lam Research’s strong financial performance and strategic positioning. The company reported a slight increase in revenue for the third quarter of 2025, surpassing market expectations, and provided guidance for the fourth quarter that exceeded street estimates.
A significant contributor to this performance was the 25% quarter-over-quarter increase in revenue from China, which accounted for 43% of total sales and bolstered both foundry/logic revenue and gross margins. Despite anticipated declines in China due to new US government regulations, Lam Research is expected to perform well outside of China, driven by strength across all wafer fabrication equipment segments and ongoing NAND upgrades. Consequently, estimates for 2026 and 2027 have been raised, along with the price target, reinforcing the Buy recommendation.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $169.00 price target.