Lam Research shares rise 5.8% even as B. Riley cuts its price target
The chip equipment maker climbed to $279.31 ahead of earnings, while B. Riley lowered its target to $338 from $390, according to GuruFocus.
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what happened
Shares of Lam Research, a supplier of chipmaking equipment, rose about 5.82% to $279.31 by 11:53 a.m. ET on October 19. The gain came even though B. Riley kept its Buy rating but cut its price target from $390 to $338, a reduction of 13.3%. GuruFocus, citing TheFly, said the move reflected lower valuation multiples across semiconductor equipment stocks.
The next test arrives October 21, when Lam holds its quarterly conference call at 5 p.m. ET.
why it matters
The stock trades 74.48% above the $160.08 GF Value estimate, so the market already prices in substantial growth. A lower target alone does not show weaker operations, but at this valuation, shipments need to be matched by durable profitability to hold the stock up.
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sources
- Lam Research Stocks Rise 5.82% Although B. Riley Cuts Its Target Before Earnings — gurufocus.com, 19 October 2026 at 19:50 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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