83/100BLam Research stock forecast 2027–2031What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Lam Research is 380.41, 89.9% above the current price of 200.36. Their targets range from 290.00 to 500.00.
Of the 21 firms that rated Lam Research in the past 12 months, 20 rate it buy or strong buy, 1 hold and 0 sell or strong sell (each firm at its latest rating): a Strong buy consensus.
Analysts' 1-year price targets range from 290.00 to 500.00, with an average of 380.41.
| Buy | 20 | |
| Hold | 1 | |
| Sell | 0 |
12-month price target
| Highest target | 500.00 |
| Average target | 380.41 |
| Lowest target | 290.00 |
| Current price | 200.36 |
Lam Research price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Lam Research price target and rating?
How analysts rate Lam Research, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
20 of 21 firms rate it buy now, against 19 of 24 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Lam Research analyst upgrades, downgrades and price targets
The latest rating change came on 18 May 2026, when Morgan Stanley upgraded Lam Research from Equal Weight to Overweight. Its price target is 331.00, from 211.00. The most recent new target came from UBS on 22 October 2026: 400.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 22 Oct 2026 | UBS Timothy Arcuri | Reiterated · Buy | 345.00 → 400.00 | +15.9% | 233.66 |
| 22 Oct 2026 | UBS | — | 425.00 → 345.00 | -18.8% | 238.58 |
| 22 Oct 2026 | Mizuho Securities | Reiterated · Outperform | 365.00 → 360.00 | -1.4% | 260.81 |
| 22 Oct 2026 | Needham | Reiterated · Buy | 300.00 → 290.00 | -3.3% | 260.81 |
| 22 Oct 2026 | Morgan Stanley | Reiterated · Overweight | 385.00 → 339.00 | -11.9% | 260.81 |
| 20 Oct 2026 | Evercore ISI | Reiterated · Outperform | 355.00 → 315.00 | -11.3% | 272.20 |
| 19 Oct 2026 | Deutsche Bank | — | 320.00 → 375.00 | +17.2% | 277.36 |
| 5 Oct 2026 | Morgan Stanley Shane Brett | Reiterated · Overweight | 404.00 → 385.00 | -4.7% | 347.49 |
| 1 Oct 2026 | Fundamental Research | — | 390.00 | — | 336.72 |
| 9 Sept 2026 | Berenberg Bank | — | 420.00 | — | 320.42 |
| 1 Sept 2026 | UBS | Reiterated · Buy | 375.00 → 425.00 | +13.3% | 301.49 |
| 25 Aug 2026 | Mizuho Securities | Reiterated · Outperform | 380.00 → 365.00 | -3.9% | 310.17 |
| 30 Jul 2026 | Deutsche Bank Melissa Weathers | — | 300.00 → 320.00 | +6.7% | 303.82 |
| 30 Jul 2026 | Wells Fargo Joe Quatrochi | Reiterated · Overweight | 450.00 → 350.00 | -22.2% | 252.35 |
| 30 Jul 2026 | Jefferies | Reiterated · Buy | 200.00 → 335.00 | +67.5% | 252.35 |
| 27 Jul 2026 | HSBC Aditha Metuku | — | 127.00 → 333.00 | +162.2% | 305.21 |
| 20 Jul 2026 | Evercore ISI | Reiterated · Outperform | 275.00 → 355.00 | +29.1% | 315.12 |
| 10 Jul 2026 | Stifel Nicolaus | Reiterated · Buy | 500.00 → 425.00 | -15.0% | 353.17 |
| 6 Jul 2026 | Morgan Stanley Shane Brett | Reiterated · Overweight | 331.00 → 404.00 | +22.1% | 362.28 |
| 30 Jun 2026 | Susquehanna Mehdi Hosseini | Reiterated · Positive | 385.00 → 475.00 | +23.4% | 410.91 |
| 29 Jun 2026 | Cantor Fitzgerald | Reiterated · Overweight | 425.00 → 500.00 | +17.6% | 379.09 |
| 29 Jun 2026 | Stifel Nicolaus | — | 325.00 → 500.00 | +53.8% | 379.09 |
| 22 Jun 2026 | Wells Fargo Joe Quatrochi | Reiterated · Overweight | 575.00 → 450.00 | -21.7% | 389.04 |
| 15 Jun 2026 | Oppenheimer | Reiterated · Outperform | 330.00 → 400.00 | +21.2% | 366.81 |
| 11 Jun 2026 | Barclays Tom O'Malley | Reiterated · Equal Weight | 275.00 → 335.00 | +21.8% | 321.80 |
| 10 Jun 2026 | Cantor Fitzgerald | Reiterated · Overweight | 320.00 → 425.00 | +32.8% | 327.16 |
| 10 Jun 2026 | Raymond James | — | 425.00 | — | 327.16 |
| 9 Jun 2026 | UBS | Reiterated · Buy | 320.00 → 375.00 | +17.2% | 324.45 |
| 1 Jun 2026 | Wells Fargo Aaron Rakers | Reiterated · Overweight | 250.00 → 575.00 | +130.0% | 318.18 |
| 27 May 2026 | Mizuho Securities | Reiterated · Outperform | 295.00 → 380.00 | +28.8% | 322.68 |
| 18 May 2026 | Morgan Stanley | Upgraded · Equal Weight → Overweight | 211.00 → 331.00 | +56.9% | 284.72 |
| 4 May 2026 | Seaport Global Jay Goldberg | — | 300.00 | — | 258.57 |
| 23 Apr 2026 | Oppenheimer Edward Yang | — | 265.00 → 330.00 | +24.5% | 262.78 |
| 23 Apr 2026 | RBC Capital Mitch Steves | Reiterated · Outperform | 290.00 → 310.00 | +6.9% | 267.25 |
| 23 Apr 2026 | Stifel Nicolaus Brian Chin | Reiterated · Buy | 280.00 → 325.00 | +16.1% | 266.00 |
| 23 Apr 2026 | Susquehanna | — | 350.00 → 385.00 | +10.0% | 265.55 |
| 23 Apr 2026 | Goldman Sachs | — | 262.00 → 290.00 | +10.7% | 265.55 |
| 23 Apr 2026 | Barclays Tom O'Malley | Reiterated · Equal Weight | 255.00 → 275.00 | +7.8% | 265.55 |
| 15 Apr 2026 | Deutsche Bank Melissa Weathers | — | 290.00 → 300.00 | +3.4% | 265.87 |
| 9 Apr 2026 | Susquehanna Mehdi Hosseini | Reiterated · Positive | 325.00 → 350.00 | +7.7% | 258.76 |
| 10 Mar 2026 | Barclays Tom O'Malley | Reiterated · Equal Weight | 250.00 → 255.00 | +2.0% | 215.23 |
| 3 Feb 2026 | Argus Research | — | 280.00 | — | 235.55 |
| 29 Jan 2026 | UBS | Reiterated · Buy | 275.00 → 320.00 | +16.4% | 244.92 |
| 29 Jan 2026 | UBS Timothy Arcuri | — | 300.00 → 275.00 | -8.3% | 242.89 |
| 29 Jan 2026 | RBC Capital | Reiterated · Outperform | 260.00 → 290.00 | +11.5% | 237.22 |
| 29 Jan 2026 | Deutsche Bank | — | 260.00 → 290.00 | +11.5% | 242.25 |
| 29 Jan 2026 | Stifel Nicolaus Brian Chin | Reiterated · Buy | 250.00 → 280.00 | +12.0% | 244.24 |
| 29 Jan 2026 | Evercore ISI | Reiterated · Outperform | 275.00 | — | 243.50 |
| 29 Jan 2026 | Bernstein | — | 225.00 → 275.00 | +22.2% | 239.58 |
| 29 Jan 2026 | Susquehanna Mehdi Hosseini | Reiterated · Positive | 250.00 → 325.00 | +30.0% | 239.58 |
Lam Research EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Lam Research's EPS to grow 35.9% a year until 2029, faster than over the last 5 years (16.4% a year) and the last 3 years (20.2%).
Analysts expect Lam Research's revenue to grow 28.2% a year until 2029, faster than over the last 5 years (9.7% a year) and the last 3 years (10.1%).
Revenue
EPS
Does Lam Research beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 12.8% off the result, either way, and their revenue estimate 1.8%, over the last 12 quarters.
- EPS beats
- 105 / 129
- Revenue beats
- 91 / 115
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- -2.0%
- Since
- January 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q1 FY2027 | 21 Oct 2026 | 2.18 | 2.20 | +0.9% | 8.14B | 8.22B | +1.0% |
| Q4 FY2026 | 29 Jul 2026 | 1.69 | 1.82 | +7.7% | 6.66B | 6.72B | +0.9% |
| Q3 FY2026 | 22 Apr 2026 | 1.36 | 1.47 | +8.1% | 5.75B | 5.84B | +1.6% |
| Q2 FY2026 | 28 Jan 2026 | 1.17 | 1.27 | +8.5% | 5.23B | 5.34B | +2.1% |
| Q1 FY2026 | 22 Oct 2025 | 1.22 | 1.26 | +3.3% | 5.22B | 5.32B | +1.9% |
| Q4 FY2025 | 30 Jul 2025 | 1.21 | 1.33 | +9.9% | 5.00B | 5.17B | +3.3% |
| Q3 FY2025 | 23 Apr 2025 | 1.00 | 1.04 | +4.0% | 4.64B | 4.72B | +1.7% |
| Q2 FY2025 | 29 Jan 2025 | 0.88 | 0.91 | +3.6% | 4.32B | 4.38B | +1.4% |
| Q1 FY2025 | 23 Oct 2024 | 0.81 | 0.86 | +6.2% | 4.06B | 4.17B | +2.7% |
| Q4 FY2024 | 31 Jul 2024 | 0.76 | 0.81 | +6.9% | 3.82B | 3.87B | +1.3% |
| Q3 FY2024 | 24 Apr 2024 | 7.30 | 0.78 | -89.3% | 3.72B | 3.79B | +1.9% |
| Q2 FY2024 | 24 Jan 2024 | 0.71 | 0.75 | +5.6% | 3.71B | 3.76B | +1.3% |
Lam Research stock price 2027–2031: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Lam Research's earnings grow at the 35.4% a year analysts expect to FY2029, then 15.0% a year, it would earn about 19.12 a share in FY2031. At the P/E it has traded at over the last five years (13.7 to 36.4) that is 261.35 to 696.72 a share, or 465.56 at its average P/E of 24.4. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2027 | 9.66 | 132.01 | 235.16 | 351.93 |
| FY2028 | 12.12 | 165.75 | 295.27 | 441.87 |
| FY2029 | 14.45 | 197.62 | 352.03 | 526.82 |
| FY2030 (extrapolated) | 16.62 | 227.26 | 404.83 | 605.84 |
| FY2031 (extrapolated) | 19.12 | 261.35 | 465.56 | 696.72 |
Each year's EPS is the analysts' consensus to FY2029; the years after grow 15.0% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (13.7, 24.4, 36.4).
Is Lam Research stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Lam Research's P/E of 29.7 is above the middle of its 5-year range (9.6 to 81.4, median 24.2). Analysts expect faster growth than in recent years, which can explain part of the high P/E. Buyers pay less for each point of growth than usual: a PEG of 0.8 on expected growth against 1.5 on its median P/E and past five years' growth. At its usual P/E (28.0 × EPS of 6.75), Lam Research's fair value is 188.89; the price, 200.36, is 6.1% above it. Its forward P/E, on the consensus for FY2027, is 20.7.
Fair value is the usual (median) P/E of the last five years times the earnings per share of the last twelve months; the ends of the bar are the same earnings at its lowest and highest P/E of those years (10.7 and 81.4). The price against its P/E range
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 29.68
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 24.21
- Five-year P/E range
- 9.6 – 81.4
- Forward P/E (FY2027)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 20.75
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 0.84
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +89.9%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 99.090 | 194.93146Price 99.09244 | +96.7% | |
| 42.225 | 82.9546Price 42.23165 | +96.4% | |
| 186.680 | 360.82271Price 186.68451 | +93.3% | |
| 213.670 | 405.57304Price 213.67507 | +89.8% | |
| 161.160 | 305.51157Price 161.16396 | +89.6% | |
| 160.650 | 300.09225Price 160.65375 | +86.8% | |
| 165.860 | 308.95212Price 165.86442 | +86.3% |
Furthest below the fair value on each stock's page, updated every day.