B Riley raised its Lam Research target to $385 from $350 citing stronger AI-related semiconductor demand through 2028.
B Riley increased its price target for Lam Research (LRCX) to $385 from $350 and maintained a Buy rating. The firm cited accelerating AI investment and rising capital expenditure expectations from hyperscalers and cloud providers for 2026-2028.
Earlier on May 4, Seaport Research initiated coverage with a $300 target, highlighting the sector’s strongest cycle in history driven by AI and advanced semiconductor manufacturing. Both firms noted Lam Research’s strong positioning in memory segment growth.
The upgrade reflects tightening semiconductor supply-demand dynamics and stronger earnings revisions across the sector.