Morgan Stanley Cuts Lam Research (LRCX) Price Target to $339
Key Points
- Morgan Stanley reiterated an Overweight rating on Lam Research Corporation on October 22, 2026, lowering its price target to $339.00 from $385.00.
- Morgan Stanley's $339 price target implies 46.13% upside from Lam Research Corporation's ($LRCX) current $231.98 share price.
- The chip gear maker closed at $231.63 on October 22, 2026, trading with a trailing twelve-month revenue of $23.23 billion and earnings of $5.76 per share.
- Other Wall Street firms adjusted their views on October 22, 2026, with Mizuho and Needham maintaining their ratings while updating targets.
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Morgan Stanley reaffirmed its Overweight rating on Lam Research Corporation (NASDAQ:LRCX) on October 22, 2026, while lowering its price target from $385.00 to $339.00. The note from Morgan Stanley comes as part of a broader round of analyst updates across the technology sector.
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Lam Research Corporation
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Morgan Stanley's Call on Lam Research
On October 22, 2026, Morgan Stanley maintained its Overweight rating on Lam Research while adjusting the target down to $339.00 from $385.00. Earlier in the month on October 5, 2026, the firm had maintained the same Overweight rating with a $385.00 target.
Lam Research Corporation Stock Down 11.9%
Lam Research shares closed at $231.63 on October 22, 2026. The stock recently traded near $231.98. The shares sit below both the 50-day moving average of $306.45 and the 200-day moving average of $283.18. The company has a market capitalization of roughly $326.38 billion and a forward P/E ratio of 21.85.
$LRCX price target
Lam Research Corporation daily closes and this analyst's $339 target. Not advice.
Recent Earnings
For its trailing twelve-month period, the semiconductor equipment maker reported revenue of $23.23 billion and earnings of $5.76 per share. The business achieved a net profit margin of 31.3% alongside a return on equity of 65.1%.
Dividend
Lam Research distributes an annual dividend of $1.32 per share, yielding 0.51% based on recent trading levels.
Insider Buying and Selling at Lam Research Corporation
Company insiders completed several transactions ahead of the rating update. On August 31, 2026, officer Ava Harter sold 5,000 shares at an average price of $302.46 for a total value of $1,512,300.00. Later, on September 2, 2026, officer Seshasayee Varadarajan sold 59,750 shares at $291.32 each, totaling $17,406,370.00. Chief Executive Officer Timothy M. Archer sold 30,000 shares on September 9, 2026, at $319.26 per share for a value of $9,577,800.00. On the same day, director Bethany J. Mayer sold 9,557 shares at $314.74 each, amounting to $3,007,970.00.
Analysts Set New Price Targets
Other Wall Street firms adjusted their views alongside Morgan Stanley on October 22, 2026. Mizuho maintained its Outperform rating on Lam Research while lowering its price target from $365.00 to $360.00. Needham maintained its Buy rating while cutting its target from $390.00 to $290.00. Earlier on October 20, 2026, Evercore ISI Group maintained an Outperform rating while reducing its target from $355.00 to $315.00. Consensus analyst opinion stands at a strong buy with a mean price target of $376.77 across 30 analyst views.
About Lam Research
Headquartered in Fremont, California, Lam Research Corporation builds specialized equipment used to manufacture integrated circuits. Its tools serve semiconductor makers across the United States, Asia, and Europe.
Bottom Line
Market observers continue to track analyst adjustments and semiconductor industry demand. Investors can monitor subsequent research updates and upcoming financial reports for further guidance on the stock's trajectory.
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Source: Morgan Stanley's rating change on $LRCX (Oct 22, 2026). Written by software, not financial advice. How we make alerts