Lam Research stock: Needham cuts target for Lam Research stock to USD 290.00

Published on 10/23/2026 at 16:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lam Research reported USD 8.22 billion revenue for September 2026. Lam Research stock costs EUR 207.48 on October 23, 2026 at 4:39 p.m. CEST.

Needham target cut

Needham lowered its Lam Research target from USD 390.00 to USD 290.00 on October 22, 2026.
Lam Research reported USD 8.22 billion revenue for the September 2026 quarter.
Lam Research stock costs EUR 207.48 at Lang & Schwarz on October 23, 2026 at 4:39 p.m. CEST.

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Needham lowered its Lam Research target from USD 390.00 to USD 290.00 on October 22, 2026, while maintaining a Buy rating, according to MarketBeat. Lam Research stock was priced at EUR 207.48 at Lang & Schwarz on October 23, 2026 at 4:39 p.m. CEST.

Quarterly revenue reaches USD 8.22 billion

Lam Research reported USD 8.22 billion in revenue for the quarter ended September 27, 2026. The company posted a U.S. GAAP gross margin of 52.3 percent, an operating margin of 40.0 percent and diluted earnings per share of USD 2.19, according to the company announcement carried by Financial Times.

Price position after the results

The Nasdaq-listed company traded at USD 232.38 on October 23, 2026 at 2:52 p.m. UTC, or 10:52 a.m. ET, while the session remained open. Lam Research's 52-week range was USD 135.50 to USD 438.50, and its market capitalization was USD 290.8 billion as of the same market snapshot.

The current valuation stood at a trailing price-to-earnings ratio of 34.51. Trading volume reached 3,635,732 shares in that snapshot, giving investors a concrete measure of activity after the latest report.

December guidance sets the next test

For the quarter ending December 27, 2026, Lam Research guided to revenue of USD 8.60 billion plus or minus USD 400.00 million. The company also guided to a U.S. GAAP gross margin of 52.5 percent plus or minus 1.0 percentage point and diluted earnings per share of USD 2.33 plus or minus USD 0.15, according to the October 21 announcement.

Analyst estimates moved in different directions after the report. Benzinga reported that Mizuho cut its target from USD 365.00 to USD 360.00, while Morgan Stanley lowered its target from USD 385.00 to USD 339.00 after the quarterly release.

What the target changes mean

The target revisions put the emphasis on execution rather than the headline revenue increase. Lam Research's September-quarter revenue was USD 1.50 billion above the June-quarter figure of USD 6.72 billion, while its operating margin rose from 37.4 percent to 40.0 percent, according to the company announcement.