Citigroup Reaffirms Buy Rating for Lam Research, Sets $450 Target

Citigroup has reiterated its buy rating for Lam Research Corporation (NasdaqGS: LRCX) with a price target of $450. This update came on June 17, 2026, from analyst Atif Malik. The shares are currently trading at $391.46.

Other Institutional Activity in Lam Research

Among Lam Research's institutional investors, BlackRock, Inc. trimmed its position by 1,407,391 shares, ending with 132,852,320 shares valued at about $28.39 billion. Meanwhile, Geode Capital Management, LLC added 1,428,558 shares, bringing its total to 35,175,926 shares worth approximately $7.50 billion. FMR LLC also increased its holdings significantly by 6,893,278 shares, totaling 33,574,842 shares valued at around $7.17 billion.

Lam Research Corporation Stock Up 4.0%

Shares of Lam Research (NasdaqGS: LRCX) traded near $391.46. The company boasts a market cap of around $461.9 billion, with a P/E ratio of 69.95 and a forward P/E of 46.31. The stock's 52-week range spans from $87.75 to $393.07, with a 50-day moving average of $292.31 and a 200-day moving average of $207.24. Lam Research has a current ratio of 2.54 and a quick ratio of 1.70, with a debt-to-equity ratio of 35.28.

Recent Earnings

Lam Research reported revenue of $21.68 billion, reflecting a growth rate of 23.8%. The company achieved a net margin of 30.94% and a return on equity of 66.76%. Earnings per share stood at $5.28. Lam Research is scheduled to announce its next earnings on July 29, 2026.

Dividend

Lam Research pays an annual dividend of $1.04, translating to a yield of 0.28%. The dividend payout ratio is 19.09%.

Insider Buying and Selling at Lam Research Corporation

Recent insider transactions at Lam Research include planned sales by Eric Brandt, who sold 54,500 shares on June 12, 2026, at an average price of $367.18, and on June 11, 2026, at $350.80. Neil Fernandes, Senior Vice President, sold 7,659 shares on June 1, 2026, at $309.60, and 18,170 shares on May 1, 2026, at $255.14, both under planned sales. Ava Harter, Chief Legal Officer, sold 6,010 shares at $258.66 on April 27, 2026, and also purchased 6,010 shares at $77.04 on the same day.

Analysts Set New Price Targets

On June 17, 2026, Citigroup maintained its buy rating for Lam Research with a $450 price target. Oppenheimer also maintained a buy rating with a $400 target on June 15, 2026. Barclays held a neutral stance with a hold rating and a $335 target on June 11, 2026. The consensus among 32 analysts is a buy rating with a mean target price of $323.38.

About Lam Research Corporation

Lam Research Corporation, headquartered in Fremont, California, is a key player in the technology sector, specifically in semiconductor equipment and materials. The company designs, manufactures, and services semiconductor processing equipment, providing solutions for integrated circuit fabrication. Under the leadership of CEO Timothy M. Archer, Lam Research employs around 20,600 people and operates globally across regions including the United States, China, Korea, and Europe.

Bottom Line

Citigroup's reaffirmation of its buy rating with a $450 target underscores confidence in Lam Research's market position. Investors keep a close eye on such analyst ratings as they provide insight into potential stock performance. Remember, this analysis reflects Citigroup's position as of June 17, 2026, based on their latest evaluation.