Needham cuts target for Lam Research stock from USD 390.00 to USD 290.00

Published on 10/26/2026 at 11:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

September-quarter revenue reached USD 8.22 billion, up 22.00 percent from June. Lam Research stock costs EUR 206.23 on October 26, 2026, 0.15 percent below the Xetra close.

Quarterly growth and shareholder dates

Needham lowered its Lam Research target from USD 390.00 to USD 290.00 on October 22, 2026.
September-quarter revenue reached USD 8.22 billion, up 22.00 percent from the June quarter.
Lam Research stock trades at EUR 206.23 at 11:19 a.m. CEST at Lang & Schwarz on October 26, 2026, 0.15 percent below the Xetra close of October 23, 2026.
Lam Research has a USD 288.0 billion market capitalization as of October 23, 2026.

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Lam Research (ISIN US5128073062) was trading at EUR 206.23 at Lang & Schwarz on October 26, 2026, at 11:19 a.m. CEST, down 0.15 percent versus the Xetra close of October 23, 2026 at EUR 206.55. The market is weighing a strong September quarter against a sharp reset in analyst targets. On October 22, 2026, Needham analyst Charles Shi kept a Buy rating but cut the target from USD 390.00 to USD 290.00, according to Benzinga.

Needham resets the target

The target reduction highlights the gap between Lam Research's operating performance and expectations embedded in semiconductor equipment valuations. The September 2026 quarter produced USD 8.22 billion in revenue, compared with USD 6.72 billion in the June 2026 quarter, a sequential increase of 22.00 percent. U.S. GAAP diluted earnings per share rose to USD 2.19 from USD 1.81, while operating margin expanded to 40.00 percent from 37.40 percent, according to Yahoo Finance.

What does the guidance mean for margins?

Lam Research guided for December 2026-quarter revenue of USD 8.60 billion, plus or minus USD 400.00 million, with a U.S. GAAP operating margin of 40.50 percent, plus or minus 1.00 percentage point. That forecast keeps profitability above the 37.40 percent recorded in the June 2026 quarter, but the range leaves investors sensitive to supply constraints and demand timing. The same release set diluted earnings per share guidance at USD 2.33, plus or minus USD 0.15, according to Yahoo Finance.

Three events shape the tape

On October 1, 2026, B. Riley raised its Lam Research target from USD 350.00 to USD 390.00 while keeping a Buy rating, according to MarketScreener. On October 21, 2026, Lam Research reported September-quarter revenue of USD 8.22 billion and non-GAAP diluted earnings per share of USD 2.20, according to Yahoo Finance. On October 22, 2026, Needham cut its target to USD 290.00, the latest of the three events, according to MarketScreener.

Next date is November 3

The next substantiated corporate date is November 3, 2026, when Lam Research is scheduled to hold its annual meeting, according to Comdirect.

Stock stays below its Xetra close

Lam Research had a market capitalization of USD 288.0 billion as of October 23, 2026, while its Nasdaq 52-week range was USD 135.50 to USD 438.50. The figures put the latest euro quotation in the context of a volatile semiconductor-equipment cycle without mixing currencies.

Lam Research was trading at EUR 206.23 at Lang & Schwarz on October 26, 2026, at 11:19 a.m. CEST, 0.15 percent below the Xetra close of October 23, 2026 at EUR 206.55. The further course of trading is shown by the continuously updated real-time quote of Lam Research stock.