Lam Research (NASDAQ:LRCX) Stock Price Down 3.4% - Here's What Happened

Market Beat
2026.01.23 00:11
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Shares of Lam Research (NASDAQ:LRCX) fell 3.4% to $220.70 amid mid-day trading, with a volume decline of 20% from the average. Despite the drop, analysts remain optimistic, with Zacks upgrading the stock to "strong-buy" and projecting potential earnings beats due to strong semiconductor demand. Several brokerages have raised price targets, with an average target of $198.75. The company reported a 27.7% revenue increase year-over-year and a quarterly EPS of $1.26, exceeding estimates. Investors are advised to watch for upcoming earnings as a potential catalyst for stock movement.