New York, January 26, 2026, 12:17 EST — Regular session
- Lam Research shares climbed roughly 3% by midday trading.
- Evercore ISI raised its price target for the chip-tool maker.
- Investors are focused on Lam’s results call scheduled for January 28 and the Fed’s decision coming midweek.
Lam Research’s shares climbed 2.9% to $224.18 by midday Monday, marking a peak for the session. So far, the stock has fluctuated between $216.00 and $224.18, with roughly 3.9 million shares traded.
The move comes as investors adjust ahead of a packed week, with rate policy and major tech earnings dominating the tape. Semiconductor equipment stocks react sharply to even minor changes in forecasts, given their close link to chipmakers’ capital expenditures.
Lam offers one of the clearest insights into chip factory demand, crucial as investors assess how long the data-center build-out will continue driving tool orders. This is particularly important now, with the sector swinging on AI spending headlines and interest rate concerns.
Evercore ISI raised its price target on Lam to $241 from $170 on Monday, maintaining an Outperform rating, MT Newswires reported. A price target reflects where brokers expect a stock to trade over the next 12 months. (MarketScreener)
Peers showed mixed moves. Applied Materials dipped around 0.7%, whereas KLA climbed about 2.1%, and ASML’s U.S.-listed shares added 1.7%. The VanEck Semiconductor ETF remained mostly flat.
The broader market edged up, with investors gearing up for earnings reports from Apple, Meta, Microsoft, and Tesla later this week, alongside the Federal Reserve’s policy announcement on Wednesday. Chris Larkin at E*Trade, part of Morgan Stanley, remarked that megacap earnings will likely “help shape sentiment around the AI trade.” (Reuters)
Lam sells wafer fabrication equipment — the etching and deposition tools used to build layers on silicon wafers — along with related services. Demand often shifts abruptly, since customers usually order in bursts instead of following a steady timetable.
As earnings near, traders are zeroing in on management’s take on WFE spending — that’s wafer fabrication equipment, the gear crucial for chip production. Insights on memory and foundry investments often carry weight equal to the actual quarterly results.
But the situation works both ways. Even if results top estimates, a weak outlook or hints that customers are delaying deliveries can still weigh heavily on the stock.
Lam announced it will hold its December-quarter earnings call on Wednesday, Jan. 28 at 2 p.m. Pacific (5 p.m. Eastern). (Lam Research Newsroom)
