Lam Research Shares Up 156% Year as Stifel and RBC Hike Targets to $260
Lam Research shares have climbed 156% over the past year and 13% year-to-date as wafer fabrication equipment demand accelerates, driven by memory-market tailwinds. Stifel boosted its price target to $250 from $160 and RBC set a $260 target, both forecasting stronger 2026 WFE sales growth.
1. Jim Cramer Endorses Lam Research
Jim Cramer highlighted Lam Research’s position in the semiconductor equipment market, noting its strength in wafer fabrication machinery for NAND, memory and packaging processes. He emphasized the company’s past M&A, capacity to meet surging order backlogs and potential to reach a $300 billion market cap.
2. Analyst Price Target Increases
In mid-January, Stifel raised its price target on Lam Research from $160 to $250 and maintained a Buy rating, citing stronger WFE sales projections. Shortly after, RBC Capital set an Outperform rating with a $260 target, noting continued tailwinds in the memory segment and robust 2026 equipment order growth.
3. Artisan Value Fund Investment and Valuation
Artisan Value Fund revealed Lam Research as a top Q3 contributor after acquiring shares near $60 during 2025 market turmoil. At that level, the stock traded around 17× cyclically depressed earnings, backed by a net cash balance sheet and a commitment to return 100% of earnings to shareholders via buybacks and dividends.