Lam Research Corporation stock reached a new 52-week high on Wednesday. The shares peaked at $323.98 during the session. The stock finished at $322.68, marking a daily gain of approximately 5.7%.
Rising demand for semiconductor equipment in artificial intelligence applications drove the price movement. Third-quarter financial results surpassed analyst estimates for both revenue and earnings per share.
Wall Street analysts recently increased price targets for the company. These revisions reflect expectations for a multi-year equipment upgrade cycle supported by AI infrastructure spending.