BofA Raises Lam Research Price Target to $480, Maintains Buy

Bank of America Securities analysts raised the price target on Lam Research Corporation (NASDAQ:LRCX) from $330 to $480, while maintaining a Buy rating on the shares, according to a report dated June 23. The revision comes after the stock rose 16%.

Rating Change

Previously, the price target was $330 with a Buy rating. Now, the new price target is $480, and the Buy rating remains unchanged.

Analyst Rationale

Analysts believe Lam Research is benefiting from growing demand for advanced semiconductors, particularly in AI and high-performance computing. The company also holds a strong position in the chip manufacturing equipment market.

Context

Lam Research is considered one of the high-growth semiconductor stocks to buy now. The stock has recently risen 16%, reflecting investor confidence. Other analysts also hold positive views on the stock.

What to Make of This

The raised price target reflects positive expectations for Lam Research, but investors should consider risks in the semiconductor sector, such as cyclical volatility and trade tensions.