Needham Cuts Lam Research (LRCX) Price Target to $290
Key Points
- Needham reiterated its Buy rating on Lam Research Corporation on October 22, 2026, lowering its price target from $390 to $290.
- Needham's $290 price target implies 24.18% upside from Lam Research Corporation's ($LRCX) current $233.53 share price.
- Lam Research shares traded at $260.81 on October 21, 2026, remaining near that level recently.
- The company pays an annual dividend of $1.32 per share, yielding 0.51%.
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On October 22, 2026, Needham reiterated its Buy rating on Lam Research Corporation (NASDAQ: LRCX) while reducing its price target from $390 to $290. The research note arrived as Wall Street firms continue reviewing their outlooks for semiconductor equipment makers amid shifting market conditions.
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Lam Research Corporation
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Other Institutional Activity in Lam Research Corporation
Annex Advisory Services adjusted its holdings in the company, growing its position by 112,156 shares to end with 113,371 shares valued at about $37,243,490.
Lam Research Corporation Stock Down 11.4%
Lam Research closed at $260.81 on October 21, 2026, and recently traded around that same price. The shares sit below both their 50-day and 200-day moving averages.
$LRCX price target
Lam Research Corporation daily closes and this analyst's $290 target. Not advice.
Recent Earnings
In its trailing twelve-month period, the company generated $23.23 billion in revenue and reported earnings of $5.76 per share.
Dividend
Lam Research distributes an annual dividend of $1.32 per share, which represents a dividend yield of 0.51% based on recent trading levels. The payout accounts for 18.1% of company earnings.
Insider Buying and Selling at Lam Research Corporation
Insiders completed several transactions ahead of the analyst update. Ava Harter sold 50,000 shares on August 31, 2026, at $302.46 per share for $1,512,300. Seshasayee Varadarajan parted with 59,750 shares on September 2, 2026, at $291.32 per share totaling $17,406,370. Chief Executive Officer Timothy M. Archer disposed of 30,000 shares on September 9, 2026, at $319.26 per share for a total of $9,577,800. Director Bethany J. Mayer also sold 9,557 shares on September 9, 2026, at $314.74 per share worth $3,007,970.
Analysts Set New Price Targets
Other firms updated their views on the stock prior to Needham's note. UBS maintained a Buy rating with a $425 target on September 1, 2026, lowering it from $435. B. Riley Securities kept a Buy rating on October 1, 2026, lifting its target from $350 to $390. Morgan Stanley maintained an Overweight rating on October 5, 2026, moving its target from $367 to $385. Evercore ISI Group kept an Outperform rating on October 20, 2026, cutting its target from $355 to $315. Across the wider analyst community, the stock carries a consensus strong buy rating with a mean price target of $376.77.
About Lam Research Corporation
Lam Research Corporation builds specialized equipment used to manufacture integrated circuits. The company serves semiconductor makers around the world, providing tools essential for fabricating advanced microchips.
Bottom Line
Needham's decision to lower its price target while keeping a Buy rating places it among several recent analyst updates for the semiconductor equipment provider. Investors will monitor future earnings reports and institutional filing updates for further direction.
Related Filing Alerts
Source: Needham's rating change on $LRCX (Oct 22, 2026). Written by software, not financial advice. How we make alerts