Lam Research Corp (NASDAQ:LRCX) announced its quarterly results and guidance ahead of the Street.
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The Lam Research Analyst: Goldman Sachs Analyst James Schneider reiterated a Buy rating and price target of $160.
The Lam Research Thesis: Investor expectations rose after AI-related data center announcements and solid reports from peers such as ASML Holding (NASDAQ:ASML), Schneider said in the note.
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Lam Research reported revenue of $5.32 billion and non-GAAP earnings of $1.26 per share, higher than Street expectations of $5.24 billion and $1.23 per share, he added.
Management raised its guidance for global WFE spending in 2025 to just above $105 billion, adding that it expects this to be slightly higher in the front half of 2026, the analyst stated.
"We believe Lam is positioned to outperform peers given its high relative exposure to deposition and etch (intensity should increase) and robust share of NAND equipment upgrades," he further wrote.
LRCX Price Action: Shares of Lam Research are up by 4.45% to $147.54 at the time of publication on Thursday.
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