Dernières nouvelles pour Lam Research (NASDAQ:LRCX) Stock

LAM RESEARCH CORP

Lam Research

Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.

Lam Research Corp

UBS analyst Timothy Arcuri maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and raises the price target from $95 to $120.

News

Price Target

Analyst Ratings

LRCX

UBS Maintains Buy on Lam Research, Raises Price Target to $120

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Morgan Stanley raised Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) price target from $43 to $110. Morgan Stanley analyst Michael Cyprys maintained an Equal-Weight rating. Robinhood shares closed at $99.96 on Monday. <a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays cut the price target for Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) from $180 to $145. Barclays analyst Jiong Shao maintained an Overweight rating. Alibaba shares closed at $108.22 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/BABA/analyst-ratings">view this stock</a>.</li>
<li>Wells Fargo cut Waters Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>) price target from $420 to $330. Wells Fargo analyst Brandon Couillard downgraded the stock from Overweight to Equal-Weight. Waters shares closed at $304.18 on Monday. <a href="https://www.benzinga.com/quote/WAT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc boosted the price target for Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) from $105 to $115. Keybanc analyst Steve Barger maintained an Overweight rating. Lam Research shares closed at $99.62 on Monday. <a href="https://www.benzinga.com/quote/lrcx/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS cut the price target for Oscar Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSCR#NYSE">OSCR</a>) from $15 to $11. UBS analyst Jonathan Yong downgraded the stock from Neutral to Sell. Oscar Health shares closed at $15.08 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/oscr/analyst-ratings">view this stock</a>.</li>
<li>JMP Securities raised DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) price target from $235 to $250. JMP Securities analyst Andrew Boone maintained a Market Outperform rating. DoorDash shares settled at $242.85 on Monday. <a href="https://www.benzinga.com/quote/dash/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities increased Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) price target from $765 to $775. B of A Securities analyst Justin Post maintained a Buy rating. Meta shares closed at $720.92 on Monday. <a href="https://www.benzinga.com/quote/meta/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stephens &amp; Co. raised Fastenal Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) price target from $40 to $45. Stephens &amp; Co. analyst Tommy Moll maintained an Equal-Weight rating. Fastenal shares closed at $45.07 on Monday.  <a href="https://www.benzinga.com/quote/fast/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan raised the price target for California Resources Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRC#NYSE">CRC</a>) from $60 to $63. JP Morgan analyst Zach Parham upgraded the stock from Neutral to Overweight. California Resources shares settled at $47.60 on Monday. <a href="https://www.benzinga.com/quote/crc/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley increased Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) price target from $127 to $137. Morgan Stanley analyst David Lewis maintained an Equal-Weight rating. Abbott shares closed at $132.03 on Monday. <a href="https://www.benzinga.com/quote/abt/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying META stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="589" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15090858/image-179-1024x589.png" alt="" class="wp-image-985970" style="width:613px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15090858/image-179-1024x589.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15090858/image-179-300x173.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15090858/image-179-768x442.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15090858/image-179.png 1105w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Keybanc analyst Steve Barger maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Overweight and raises the price target from $105 to $115.

Keybanc Maintains Overweight on Lam Research, Raises Price Target to $115

Mizuho analyst Vijay Rakesh maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Outperform and raises the price target from $100 to $115.

Mizuho Maintains Outperform on Lam Research, Raises Price Target to $115

The One Big, Beautiful Bill (OBBB) is now the law of the land, with President Trump taking a victory lap after <a href="https://www.benzinga.com/news/politics/25/07/46263434/trump-signs-sweeping-tax-and-spending-bill-that-cbo-says-will-add-3-3-trillion-to-us-deficit-cut-health-coverage-for-11-8-million-americans">signing the legislation into law</a> on July 4, 2025.
The new tax and regulatory policy in the bill is already sending huge ripples across the markets. Some <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46368613/3-stocks-to-sell-now-that-trumps-big-beautiful-bill-is-law">sectors are falling</a>, as they&#8217;ve now lost the federal government&#8217;s favor.
New, significant tax benefits to long-term holders of stock in small businesses and startups are already changing investor behavior.
And, of course, a big new budget bill means plenty of big new winning stocks.
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<h2 class="wp-block-heading">3 OBBB Stocks That May Already Be Striking Lightning </h2>
Drilling down into individual stocks that are expected to benefit from the new OBBB legislation involves examining industries favored by the legislation, such as semiconductors, manufacturing, and materials. Here are a few key sector stocks that are expected to benefit from the bill.
<h3 class="wp-block-heading">Intel Corp.</h3>
This rationale could apply to any chip manufacturer that&#8217;s playing nice with Uncle Sam, but semiconductors are an obvious favorite coming out of the new budget bill.
"The main benefit for semiconductor manufacturing in the OBBBA is a substantial increase in the tax credit for companies who break ground on new chip fabs before the end of 2026 &#8211; an increase from 25% to 35%," said Michael Bergines, wealth advisor at Prospero Wealth, in San Francisco, Cal. "This tax credit is uncapped and will be grandfathered in for all spending on projects begun in 2025."
The tax credit will primarily benefit companies that have already committed to US-based manufacturing, and this includes not only Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) but also Micron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) and Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>). 
Intel stands out as its shares have already risen 18% year-to-date and up 15.6% in the past month. That's significantly ahead of the computer and technology sector&#8217;s gain of 6.2% and the S&amp;P 500&#8217;s gain of 4.4%.
<h3 class="wp-block-heading">Lam Research</h3>
The OBBB also includes major funding for the artificial intelligence sector as the federal government continues to seek AI partners that expand American technology influence across the globe.
The legislation should boost U.S. semiconductor companies, such as Fremont, California-based Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), which designs and manufactures semiconductor processing equipment used in the fabrication of integrated circuits. Bergines said the bill should "continue to help" semiconductor equipment companies like Lam, Applied Materials (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>), and KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>).
LCRX shares are up 39.9% so far in 2025, but should go higher with the budgetary winds at its back. Toshiya Hari, a Goldman Sachs tech analyst, launched coverage on Lam Research with a Buy on the stock and a target price of $115. It's trading at $101 as of July 10.
<h3 class="wp-block-heading">MP Material</h3>
At first glance, you may not think the OBBA applies to a company that engages in the production of rare earth specialty materials to the US military, and to billions of dollars of associated budget funding, but that's where MP Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) finds itself right now.
The Las Vegas-based materials company saw its share price bounce by 50% on July 10 after rolling out a multibillion-dollar public-private partnership with the U.S. Department of Defense to &#8220;dramatically accelerate the build-out of an end-to-end U.S. rare earth magnet supply chain and reduce foreign dependency.&#8221;
"We saw MP Material jump to a new high on news from the Pentagon," said Stephen Herbert Akin, founder at Akin Investments in Charleston, S.C. "The stock appears on our proprietary stock screener on June 9, 2025, at $25.51 per share. In less than a week, the stock traded up to $40, and yesterday it hit $48.01."
George Gianarikas, a Canaccord analyst, doubled his MP price target from $27 to $55 while maintaining a buy rating on the stock on Friday, July 11.
Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.
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Opinion

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Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) has outperformed the market over the past 5 years by 9.55% on an annualized basis producing an average annual return of 23.91%. Currently, Lam Research has a market capitalization of $129.31 billion. 
Buying $1000 In LRCX: If an investor had bought $1000 of LRCX stock 5 years ago, it would be worth $2,998.46 today based on a price of $101.09 for LRCX at the time of writing.
<h3>Lam Research's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1752246921_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Lam Research 5 Years Ago Would Be Worth Today

<a href="https://www.benzinga.com/topic/semiconductor">Semiconductor</a> manufacturing equipment giant Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) has seen its stock surge a remarkable 40% year-to-date, significantly outperforming the Nasdaq 100 index&#8217;s nearly 9% gain. 
This ascent is largely propelled by the rapidly expanding artificial intelligence (AI) and data center boom, which is driving unprecedented demand for advanced chips and, consequently, the sophisticated equipment required to produce them. 
Lam Research&#8217;s pivotal role in manufacturing advanced chips for AI workloads and high-bandwidth memory (HBM) places it at the forefront of this technological revolution.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/04/44841545/applied-materials-lam-research-kla-drop-amid-fresh-trade-war-fears-revenue-risk" rel="noreferrer noopener">Applied Materials, Lam Research, KLA Drop Amid Fresh Trade War Fears, Revenue Risk</a>
The company&#8217;s strong performance is further strengthened by strategic investments and an expanding global footprint. However, this growth narrative is partially tempered by ongoing concerns surrounding the Trump administration&#8217;s tariff policies, broader geopolitical tensions, and macroeconomic uncertainties.
Despite these headwinds, Lam Research is currently trading above its 50-day moving average of $86.81, having gained 50% in the last three months, easily surpassing the Nasdaq 100&#8217;s over 24% rise during the same period.
The company&#8217;s financial results underscore this momentum. On April 23, Lam Research stock climbed nearly 5% after reporting <a href="https://www.benzinga.com/news/earnings/25/04/44965339/lam-research-stock-climbs-after-strong-q3-results-q4-guidance-above-estimates">third-quarter revenue</a> of $4.72 billion, a 24.41% year-over-year increase that beat analyst consensus estimates of $4.59 billion. 
The adjusted gross margin for the quarter stood at 49%. Looking ahead, Lam Research anticipates fourth-quarter revenue to range between $4.7 billion and $5.3 billion, well above the $4.45 billion estimate, signaling continued confidence in its near-term outlook.
<h2 class="wp-block-heading">Macroeconomic Tailwinds</h2>
Lam Research is strategically positioned to capitalize on recent policy shifts aimed at strengthening the U.S. chip industry. President Donald Trump&#8217;s &#8220;<a href="https://www.benzinga.com/markets/tech/25/07/46324642/arm-rides-ai-boom-and-outperforming-market">Big Beautiful Bill</a>,&#8221; for instance, proposes an increase in the semiconductor investment tax credit from 25% to 30% through 2026. 
This incentive is expected to encourage chipmakers to expand domestic production, directly driving greater demand for Lam&#8217;s essential manufacturing equipment. Additionally, the bill ends the $7,500 EV tax credit after September 30, which may impact demand/pricing in the short run.
<h2 class="wp-block-heading">Analysts Weigh In</h2>
Industry experts are increasingly bullish on Lam Research. In May, CNBC&#8217;s <a href="https://www.benzinga.com/markets/25/05/45466164/jim-cramer-prefers-autozone-over-rival-buy-the-one-thats-not-going-to-stock-split">Jim Cramer</a> publicly recommended Lam Research over key competitors ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) and Applied Materials (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>).
This sentiment was echoed on June 9 by Bank of America Securities analyst Vivek Arya, who highlighted Lam Research&#8217;s <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45845825/ai-momentum-powers-nvidia-arm-and-chip-supply-chain-in-bofa-recap">improving outlook</a> at a recent tech conference. 
Arya noted that Lam, alongside Applied Materials and KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), is experiencing strong momentum in leading-edge foundry/logic (F/L) and advanced DRAM wafer fab equipment (WFE). 
This robust demand is helping to offset softness in the Chinese market and trailing-edge spending, with Arya projecting mid-single-digit year-over-year growth for 2025.
Arya emphasized Lam&#8217;s early-stage NAND upgrades across several customers, identifying this as a significant $40 billion multi-year opportunity. 
He also underscored the company&#8217;s strong positioning in the crucial DDR5/HBM markets. Based on this optimistic outlook, Arya raised his price target on Lam Research to $100 from $90.
In comparison, Arya also increased his price target for KLA Corp to $900 from $825, citing strong 2nm/GAA investment trends, expansion into advanced packaging markets, and KLA&#8217;s top-tier profitability. 
Interestingly, all three vendors view China as &#8220;de-risked&#8221; for 2025 despite ongoing geopolitical tensions, expecting the region to contribute 25%–30% of their overall sales.
While Lam Research&#8217;s year-to-date performance is strong, its peers have also seen significant gains: ASML is up 16%, Applied Materials 22%, and KLA Corp over 47%.
Price Action: LRCX stock is trading lower by 0.02% to $101.04 at last check Friday.
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Movers

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Mizuho analyst Peter Costa initiated coverage on Napco Security Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSSC#NASDAQ">NSSC</a>) with an Outperform rating and announced a price target of $39. NAPCO Security shares closed at $30.20 on Wednesday. <a href="https://www.benzinga.com/quote/NSSC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Seaport Global analyst Tom Curran initiated coverage on GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Buy rating and announced a price target of $630. GE Vernova shares closed at $535.77 on Wednesday. <a href="https://www.benzinga.com/quote/GEV/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs analyst James Schneider initiated coverage on NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy rating and announced a price target of $185. Nvidia shares closed at $162.88 on Wednesday. <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs analyst Toshiya Hari initiated coverage on Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy rating and announced a price target of $115. Lam Research shares closed at $99.81 on Wednesday. <a href="https://www.benzinga.com/quote/lrcx/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital analyst Daniel Jester initiated coverage on Automatic Data Processing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) with a Market Perform rating and announced a price target of $340. Automatic Data Processing shares closed at $308.41 on Wednesday. <a href="https://www.benzinga.com/quote/adp/analyst-ratings">See how other analysts view this stock.</a></li>
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Considering buying NVDA stock? Here&#8217;s what analysts think: 
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Goldman Sachs analyst Toshiya Hari initiates coverage on Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy rating and announces Price Target of $115.

Goldman Sachs Initiates Coverage On Lam Research with Buy Rating, Announces Price Target of $115

ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) has <a href="https://www.benzinga.com/topic/semiconductors">experienced an 8% decline</a> in market value year-to-date, contrasting sharply with the PHLX Semiconductor Index&#8217;s 14% gain during the same period. 
This underperformance for ON Semiconductor stems from a failure to achieve topline growth over the past two quarters, reflecting weakened demand across its core business segments, including power solutions, analog, and sensing technologies. 
The softness in these areas is largely attributable to challenging conditions within the automotive and industrial markets. Despite these headwinds, the stock has recently seen a significant surge, gaining over 47% in the last three months and outperforming the index&#8217;s 34% rise, and it currently trades above its 50-day moving average of $47.56.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45237744/on-semiconductor-sees-green-shoots-in-industrial-auto-shift-as-analysts-stay-cautious" rel="noreferrer noopener">ON Semiconductor Powers Through Expectations, But Analysts Dial Down Targets On Margin Squeeze</a>
<h2 class="wp-block-heading">Recent Financial Performance and Strategic Shifts</h2>
Several factors appear to be driving this recent upward trend. On May 5, ON Semiconductor announced its <a href="https://www.benzinga.com/news/earnings/25/05/45196247/on-semiconductor-q1-earnings-beat-estimates-ceo-optimistic-on-design-wins-despite-margin-decline">fiscal first-quarter 2025</a> revenue declined 22.4% year-on-year to $1.45 billion, yet this still surpassed the analyst consensus estimate of $1.40 billion. 
While revenue from power solutions, analog, and sensing all decreased, the company&#8217;s adjusted gross margin saw a 590 basis point decline to 40.0%, indicating pricing pressures within the semiconductor industry. Looking ahead, ON Semiconductor anticipates second-quarter adjusted revenue to be between $1.40 billion and $1.45 billion, aligning with the analyst consensus of $1.42 billion.
Further contributing to investor sentiment, on February 26, the company unveiled a <a href="https://www.benzinga.com/media/25/02/43971798/on-semiconductor-focuses-on-ai-chip-growth-to-cut-2400-jobs-to-stay-competitive">comprehensive restructuring plan</a> aimed at cost reduction and margin improvement across all business units, including manufacturing. This initiative involves laying off approximately 2,400 employees, with an expected annual savings of $105 million to $115 million by 2025. 
CEO Hassane El-Khoury emphasized a strategic shift towards core operations, phasing out side projects to capitalize on the increasing demand driven by artificial intelligence. El-Khoury specifically highlighted the critical role of the company&#8217;s power chips in supporting large-scale GPU deployments, underscoring strong AI tailwinds. 
This strategic focus on AI and cost optimization seems to resonate with investors. Previously, on February 10, the company had reported a 15% <a href="https://www.benzinga.com/25/02/43592322/on-semiconductor-q4-earnings-q4-revenue-drops-15-weak-demand-in-auto-and-industrial-sectors-lower-utilization-hits-margins-ceo-warns-of-continued-challenges-in-2025">revenue decline</a> for fiscal fourth-quarter 2024, missing analyst estimates, and El-Khoury had expressed uncertainty regarding 2025, making the recent strategic announcements all the more impactful.
<h2 class="wp-block-heading">Macroeconomic Tailwinds and Headwinds</h2>
Macroeconomic indicators also play a role in ON Semiconductor&#8217;s outlook. The proposed &#8220;Big Beautiful Bill&#8221; in the U.S. <a href="https://www.benzinga.com/markets/tech/25/07/46324642/arm-rides-ai-boom-and-outperforming-market">could significantly benefit</a> the company by increasing the U.S. chip investment tax credit to 30% through 2026, thereby encouraging domestic manufacturing expansion. 
While the bill also ends the $7,500 EV tax credit after September 30, potentially leading automakers to raise EV prices and boost margins, this could, in turn, create more room for investment in advanced chips, thus stimulating demand for ON Semiconductor&#8217;s products. 
However, the escalating U.S.-China geopolitical tensions, particularly the tariff war, pose a significant risk, with potential retaliatory measures from China. Automakers are actively seeking alternative <a href="https://www.benzinga.com/markets/tech/25/06/45833037/auto-industry-struggles-as-supply-chain-issues-threaten-production-amid-chinas-export-curbs-on-rare-earth-minerals-report">rare-earth material</a> sources to circumvent China&#8217;s export restrictions, developing low-to-zero rare-earth motors, and strengthening local supply chains, a sentiment echoed by Tesla&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk.
<h2 class="wp-block-heading">Analyst Outlook</h2>
Analyst perspectives on ON Semiconductor are varied. A consensus price target from twenty-eight analysts stands at $62.43. Recent ratings from KeyBanc, Citigroup, and UBS suggest an average target of $60, implying a potential upside of 3.70% for the stock. 
In April, Bank of America analysts Vivek Arya and Duksan Jang anticipated a <a href="https://www.benzinga.com/25/04/44852860/nvidia-lam-research-and-marvell-to-face-least-impact-from-tariffs-while-intel-and-arm-could-suffer-more-bofa-analyst">first-quarter earnings</a> beat due to conservative outlooks and tariff-related demand shifts favoring U.S. chipmakers. They projected a mixed second quarter, with expanded guidance ranges reflecting lingering uncertainties from trade tensions and AI regulation. 
These analysts also cautioned that ON Semiconductor could face a 7%-9% sales hit under modest to dire tariff scenarios, potentially leading to EPS declines ranging from 12% to 30% and margin pressure of 150-500 basis points. They specifically noted that companies tied to consumer and auto segments, like ON Semiconductor, are more vulnerable than AI- and cloud-exposed peers such as Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) or Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>). 
Earlier in January, Needham&#8217;s N. Quinn Bolton <a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42958251/on-semi-sees-utilization-cuts-as-ev-demand-softens-analyst-warns">highlighted weak demand</a> in the company&#8217;s key automotive and industrial markets and ongoing inventory digestion, expecting management to reduce fab utilization below 65%, which would pressure adjusted gross margins in the first half of 2025. Despite this near-term weakness, Bolton identified ON Semiconductor as a strong candidate for a semiconductor cycle rebound. 
Price Action: ON stock is trading higher by 0.09% to $57.82 premarket at last check Thursday.
Read Next:
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Image via Shutterstock

TSLA

What's Fueling ON Semiconductor's Recent Stock Surge?

Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) has outperformed the market over the past 5 years by 9.62% on an annualized basis producing an average annual return of 24.17%. Currently, Lam Research has a market capitalization of $127.30 billion. 
Buying $100 In LRCX: If an investor had bought $100 of LRCX stock 5 years ago, it would be worth $292.72 today based on a price of $99.52 for LRCX at the time of writing.
<h3>Lam Research's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1751986824_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Lam Research 5 Years Ago Would Be Worth Today

Wells Fargo analyst Joseph Quatrochi maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Equal-Weight and raises the price target from $75 to $95.

Wells Fargo Maintains Equal-Weight on Lam Research, Raises Price Target to $95

In the current market session, Lam Research Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) share price is at $98.05, after a 0.77% decrease. Over the past month, the stock went up by 7.85%, but over the past year, it actually fell by 11.79%. With good short-term performance like this, and questionable long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio.

<img src="https://www.benzinga.com/files/images/story/2025/1751922018_0.png" alt="Past Year Chart" />

<h3>A Look at Lam Research P/E Relative to Its Competitors</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Lam Research has a lower P/E than the aggregate P/E of 72.66 of the Semiconductors &amp; Semiconductor Equipment industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1751922018_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

P/E Ratio Insights for Lam Research

During the last three months, 21 analysts shared their evaluations of Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">9</td>
<td align="right">7</td>
<td align="right">5</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">7</td>
<td align="right">5</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $91.81, a high estimate of $115.00, and a low estimate of $70.00. Experiencing a 0.31% decline, the current average is now lower than the previous average price target of $92.10. 
<img src="https://www.benzinga.com/files/images/story/2025/1751918454_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The standing of Lam Research among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Atif Malik</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$108.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>Joseph Moore</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$87.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Matthew Prisco</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$115.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Craig Ellis</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$115.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Ed Yang</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$110.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Timothy Arcuri</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$95.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Harlan Sur</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$95.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Srini Pajjuri</td>
<td>Raymond James</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$90.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Melissa Weathers</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Hold</td>
<td>$70.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Craig Ellis</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$95.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$80.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Joseph Moore</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$82.00</td>
<td>$81.00</td>
</tr>
<tr>
<td>Matthew Prisco</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Krish Sankar</td>
<td>TD Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$100.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Joseph Quatrochi</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$75.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Mark Lipacis</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$99.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Tom O'Malley</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$70.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Vivek Arya</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$90.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Brian Chin</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$92.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Timothy Arcuri</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$90.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Ed Yang</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$80.00</td>
<td>$95.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Lam Research. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Lam Research compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Lam Research's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Lam Research's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/LRCX/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Lam Research analyst ratings.</a>
<h2>About Lam Research</h2>
Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.
<h3>Lam Research's Financial Performance</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Lam Research displayed positive results in 3M. As of 31 March, 2025, the company achieved a solid revenue growth rate of approximately 24.43%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Net Margin: Lam Research's net margin is impressive, surpassing industry averages. With a net margin of 28.19%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Lam Research's ROE excels beyond industry benchmarks, reaching 14.53%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Lam Research's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.69% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.47, caution is advised due to increased financial risk.
<h2>The Basics of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Verdict: Lam Research In The Eyes Of 21 Experts

Citigroup analyst Atif Malik maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and raises the price target from $87 to $108.

Citigroup Maintains Buy on Lam Research, Raises Price Target to $108

Morgan Stanley analyst Joseph Moore maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Equal-Weight and raises the price target from $82 to $87.

Morgan Stanley Maintains Equal-Weight on Lam Research, Raises Price Target to $87

Investors with a lot of money to spend have taken a bullish stance on Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LRCX, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://www.benzinga.com/pro/">Benzinga</a>'s options scanner spotted 20 uncommon options trades for Lam Research.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 45%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $327,780, and 16 are calls, for a total amount of $986,243.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $120.0 for Lam Research, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Lam Research options trades today is 1270.18 with a total volume of 1,743.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lam Research's big money trades within a strike price range of $60.0 to $120.0 over the last 30 days.
<h3>Lam Research Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1751043647_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$19.75</td>
<td>$19.7</td>
<td>$19.7</td>
<td>$100.00</td>
<td>$277.8K</td>
<td>4.1K</td>
<td align="right">141</td>
</tr>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$38.05</td>
<td>$37.5</td>
<td>$37.83</td>
<td>$60.00</td>
<td>$189.1K</td>
<td>449</td>
<td align="right">50</td>
</tr>
<tr>
<td>LRCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$5.15</td>
<td>$5.1</td>
<td>$5.15</td>
<td>$95.00</td>
<td>$154.5K</td>
<td>349</td>
<td align="right">302</td>
</tr>
<tr>
<td>LRCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$1.93</td>
<td>$1.93</td>
<td>$1.93</td>
<td>$70.00</td>
<td>$96.5K</td>
<td>1.9K</td>
<td align="right">500</td>
</tr>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/20/26</td>
<td>$5.9</td>
<td>$5.8</td>
<td>$5.9</td>
<td>$120.00</td>
<td>$88.5K</td>
<td>736</td>
<td align="right">150</td>
</tr>
</tbody>
</table>

<h3>About Lam Research</h3>
Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.
In light of the recent options history for Lam Research, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Lam Research Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 2,746,753, the LRCX's price is up by 0.14%, now at $96.98. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 33 days.</li>
</ul>
<h3>Professional Analyst Ratings for Lam Research</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $113.33.
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&#x2A; Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Lam Research with a target price of $115. 
&#x2A; An analyst from Oppenheimer persists with their Outperform rating on Lam Research, maintaining a target price of $110. 
&#x2A; An analyst from Cantor Fitzgerald persists with their Overweight rating on Lam Research, maintaining a target price of $115. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Lam Research with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Options

Decoding Lam Research's Options Activity: What's the Big Picture?

The artificial intelligence rally that made Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) a market juggernaut appears to have entered a new phase in 2025, as a sharp rotation in semiconductor leadership has seen rivals outperform <a href="https://www.benzinga.com/topic/chipmakers">the AI front-runner.</a>
Despite rising nearly 14% through the end of June, Nvidia now lags behind a group of chipmakers delivering significantly stronger gains.
Crucially, Nvidia&#8217;s long-held outperformance over the broader chip sector—tracked by the Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>)—has nearly evaporated in the first half of the year.
Is this just a pause in Nvidia's dominance, or the beginning of a more permanent shift in the AI hardware race?
<h3 class="wp-block-heading">Nvidia Is No Longer The Top Chip Gainer</h3>
After dominating the AI-fueled bull runs of 2023 and 2024, Nvidia has posted a modest year-to-date gain of 13.6% as of June 25, fully recovering from a Deepseek-driven selloff in January. 
But while Nvidia is in the green, several rival chipmakers have surged ahead.
Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) leads the pack, up 44.5% through June. KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) follows with a 40.4% gain, and Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) has jumped 32.9%. 
Other notable performers include Arm Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) with a 24% rise, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) up 19.1% and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) gaining 14.7%.
By contrast, Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has added 13%, nearly matching Nvidia, while the broader sector tracked by the Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>) rose 10%.
This marks a reversal from 2024, when Nvidia soared 179.3%, more than doubling the returns of TSM, which gained 93.8%.
In 2023, Nvidia delivered a staggering 236.5% return, leaving AMD (+116.5%) and Broadcom (+100.1%) in the dust. That level of dominance is now being challenged. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Stock Name</th>
<th>YTD Gain (as of June 25,2025)</th>
<th>2024 Performance</th>
<th>2023 Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>Micron Technology Inc. </td>
<td>+44.5%</td>
<td>+2.3%</td>
<td>+63.5%</td>
</tr>
<tr>
<td>KLA Corp. </td>
<td>+40.4%</td>
<td>+9.5%</td>
<td>+48.8%</td>
</tr>
<tr>
<td>Lam Research Corp. </td>
<td>+32.9%</td>
<td>-7.5%</td>
<td>+80.9%</td>
</tr>
<tr>
<td>Arm Holdings PLC </td>
<td>+24.0%</td>
<td>+70.6%</td>
<td>—</td>
</tr>
<tr>
<td>Advanced Micro Devices Inc. </td>
<td>+19.1%</td>
<td>-18.2%</td>
<td>+116.5%</td>
</tr>
<tr>
<td>Broadcom Inc. </td>
<td>+14.7%</td>
<td>+107.8%</td>
<td>+100.1%</td>
</tr>
<tr>
<td>Nvidia Corp. </td>
<td>+13.6%</td>
<td>+179.3%</td>
<td>+236.5%</td>
</tr>
<tr>
<td>Taiwan Semiconductor Mfg. </td>
<td>+13.0%</td>
<td>+93.8%</td>
<td>—</td>
</tr>
<tr>
<td>Invesco PHLX Semiconductor ETF </td>
<td>+10.0%</td>
<td>+20.2%</td>
<td>+60.9%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Why Is The AI Leadership Rotating?</h3>
The sector rotation may reflect a broadening investor focus across the AI hardware stack.
While Nvidia continues to dominate AI accelerators, analysts see expanding opportunities in memory, manufacturing, and equipment, where companies like Micron, Lam and KLA are well-positioned.
In a note shared Wednesday, Bank of America analyst Vivek Arya estimated that the global AI data center market could grow from about $250 billion today to about $1 trillion by 2030, reflecting a 26% compound annual growth rate.
That growth rate is more than three times faster than overall IT spending, which Arya expects to rise at an 8% pace.
More than $800 billion of the projected $1 trillion market could be allocated to generative AI computing, networking and storage infrastructure.
AI servers are expected to dominate spending, accounting for roughly 80–85% of the total addressable market, or about $700 billion—including approximately $650 billion in accelerators. Networking is projected to capture 10–15%, or $74 billion, while storage will represent around 5%, or $39 billion. 
By 2030, total spending on AI data center systems is forecast to exceed 10% of global IT expenditures and make up more than 80% of all data center infrastructure outlays.
&#8220;We expect every major country/region to invest in creating its independent&nbsp;sovereign&nbsp;AI factory, trained in local language, culture, generating high-tech employment, and serving critical healthcare, defense, industrial, financial and cyber needs,&#8221; Arya said.
According to Bank of America Nvidia is expected to retain more than 80% of the AI accelerator market over time, while AMD is projected to hold around 5%. 
&#8220;Nvidia remains key beneficiary, but the rising tide is also positive Broadcom, AMD, Marvell, optical, foundry, memory, and semicap peers,&#8221; he added. 
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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>Goldman Sachs lowered Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) price target from $48 to $46. Goldman Sachs analyst Kate McShane downgraded the stock from Neutral to Sell. Advance Auto Parts shares closed at $51.93 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/AAP/analyst-ratings">view this stock</a>.</li>
<li>Guggenheim increased the price target for Cidara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>) from $50 to $68. Guggenheim analyst Seamus Fernandez maintained a Buy rating. Cidara Therapeutics shares closed at $44.95 on Monday. <a href="https://www.benzinga.com/quote/CDTX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham raised CorMedix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) price target from $15 to $20. Needham analyst Serge Belanger maintained a Buy rating. CorMedix shares closed at $16.56 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/CRMD/analyst-ratings">view this stock</a>.</li>
<li>HC Wainwright &amp; Co. boosted the price target for Lyell Immunopharma Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYEL#NASDAQ">LYEL</a>) from $1 to $10. HC Wainwright &amp; Co. analyst Mitchell Kapoor maintained a Neutral rating. Lyell Immunopharma shares closed at $8.99 on Monday. <a href="https://www.benzinga.com/quote/LYEL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs slashed the price target for RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) from $199 to $179. Goldman Sachs analyst Kate McShane downgraded the stock from Neutral to Sell. RH shares closed at $186.22 on Monday. <a href="https://www.benzinga.com/quote/RH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities cut DICK&#8217;S Sporting Goods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) price target from $250 to $240. B of A Securities analyst Robert Ohmes maintained a Buy rating. DICK&#8217;S Sporting shares settled at $175.79 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities raised MACOM Technology Solutions Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSI#NASDAQ">MTSI</a>) price target from $250 to $270. B of A Securities analyst Vivek Arya maintained a Buy rating. MACOM Technology Solutions shares closed at $138.65 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc increased Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) price target from $220 to $240. Keybanc analyst Steve Barger maintained an Overweight rating. Westinghouse Air Brake Technologies shares closed at $202.19 on Monday.  <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Cantor Fitzgerald raised the price target for Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) from $200 to $220. Cantor Fitzgerald analyst Matthew Prisco maintained an Overweight rating. Applied Materials shares settled at $171.96 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Cantor Fitzgerald increased Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) price target from $90 to $115. Cantor Fitzgerald analyst Matthew Prisco maintained an Overweight rating. Lam Research shares closed at $91.61 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying AAP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="554" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24084704/image-361-1024x554.png" alt="" class="wp-image-959828" style="width:540px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24084704/image-361-1024x554.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24084704/image-361-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24084704/image-361-768x415.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24084704/image-361.png 1132w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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