New York, January 9, 2026, 17:01 EST — After-hours
- Lam Research shares jump on fresh Wall Street target hikes
- Chip-equipment names lead a broader semiconductor rally
- Attention shifts to Lam’s late-January conference call
Lam Research Corp shares jumped 8.6% to $218.36 after the close on Friday, after Mizuho lifted its price target on the chip-equipment maker to $220 from $200. The stock ranged from about $202 to $219.42 in the session, with roughly 16.7 million shares changing hands.
The move tracked a sharp run in chip stocks, with the PHLX semiconductor index up 2.7% to a record high as a softer-than-expected U.S. jobs report did little to dent bets for Federal Reserve rate cuts this year. “Investors are getting granular and picking the winners and losers,” said Zachary Hill, head of portfolio management at Horizon Investments. Reuters
That matters for Lam because it sits in the middle of wafer fabrication equipment — the machines chipmakers buy to build chips — and sentiment can turn quickly when analysts reset their 2026 views. With the stock near the new $220 target, traders are watching whether upgrades translate into follow-through buying or just a quick squeeze.
Cantor Fitzgerald analyst C.J. Muse lifted his price target to $265 from $210 and kept an Overweight rating, flagging what he sees as a rising equipment cycle through 2026 to 2028. Muse called the stance “All-In,” arguing the group is still early in the investment upturn. TipRanks
Goldman Sachs also raised its target, to $180 from $160, and kept a Buy rating, pointing to stronger spending by makers of memory chips. The bank cited incremental DRAM and NAND investment — two major categories of memory — as a near-term support.
Peers moved in step. Applied Materials rose 6.9%, KLA gained 5.6% and ASML added 6.7% on the day.
Lam is a major supplier of deposition, plasma etch, photoresist strip and wafer cleaning tools used in chip manufacturing. Demand for that gear tends to swing with customer capital spending cycles.
But Friday’s jump leaves little room for a stumble. Any sign that chipmakers are pulling back spending plans — or that order timing is shifting again — could test the stock’s new floor fast.
Lam said it will host its quarterly financial conference call and webcast on Jan. 28 at 5 p.m. ET. Investors will be listening for December-quarter details and, more importantly, guidance on customer spending into 2026.
