Mizuho Cuts Lam Research (LRCX) Price Target to $360

On October 22, 2026, Mizuho reaffirmed its Outperform rating on Lam Research Corporation (NasdaqGS: LRCX) while lowering its price target from $365.0 to $360.0. The research note arrived on the same day shares closed at $231.40.

LRCX Lam Research Corporation

$260.81 ▲ +41.35% year to date

1M 3M YTD

Daily close · Oct 21, 2026

Mizuho's Call on Lam Research Corporation

Mizuho kept its positive stance on the semiconductor gear maker with an Outperform rating on October 22, 2026, while trimming its target to $360.0 from $365.0.

Other Institutional Activity in Lam Research Corporation

Annex Advisory Services grew its holdings by 112,156 shares, ending with 113,371 shares worth about $37.24 million. Livforsakringsbolaget Skandia, Omsesidigt reduced its stake by 7,400 shares, ending with 109,498 shares valued at roughly $35.97 million.

Lam Research Corporation Stock Down 11.4%

Lam Research shares recently traded around $233.53 as of October 22, 2026, up about 0.9% from their event-day close of $231.40. The stock is positioned below its 50-day moving average of $306.45 and its 200-day moving average of $283.18. Shares sit down 46.7% from their 52-week high of $438.50 and up 72.3% from their 52-week low of $135.50. The company carries a market capitalization of $326.38 billion, a trailing price-to-earnings ratio of 45.28, and a forward P/E of 21.85. The recent price sits 38.0% below the analyst mean price target.

Recent Earnings

For its trailing twelve-month period, the firm posted revenue of $23.23 billion alongside earnings of $5.76 per share. The company reported a net profit margin of 31.3% and a return on equity of 65.1%, backed by year-over-year revenue growth of 30.0%.

Dividend

The company pays an annual dividend rate of $1.32 per share, giving it a dividend yield of 0.51% with a payout ratio of 18.1%.

Insider Buying and Selling at Lam Research Corporation

Four insider transactions occurred between August 31, 2026, and September 9, 2026, including open-market sales by officer Ava Harter, officer Seshasayee Varadarajan, CEO Timothy M. Archer, and director Bethany J. Mayer.

Analysts Set New Price Targets

Several other firms updated their views around the same time, with Needham maintaining a buy rating on October 22, 2026, while cutting its target from $390.0 to $290.0. Across Wall Street, the stock holds a strong buy consensus with a mean price target of $376.77.

About Lam Research Corporation

Based in Fremont, California, Lam Research Corporation designs and builds manufacturing equipment used to fabricate advanced integrated circuits. Its processing systems help semiconductor makers produce chips efficiently for customers around the world.

Bottom Line

Investors will watch how broader semiconductor equipment demand tracks against analyst expectations ahead of upcoming corporate updates. The lowered price target highlights shifting near-term sentiment even as key firms maintain positive ratings.