Lam Research Named Top Semiconductor Pick As AI-Driven Manufacturing Supercycle Shifts Into High Gear

Benzinga02-21 02:07

Arya said meetings with Lam CFO Doug Bettinger reinforced management's confidence that clean-room constraints — not demand — will limit the upcycle. The semiconductor sector is witnessing a remarkable...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLam Research Named Top Semiconductor Pick As AI-Driven Manufacturing Supercycle Shifts Into High Gear\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-21 02:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/analyst-stock-ratings/reiteration/26/02/50758366/lam-research-named-top-semiconductor-pick-as-ai-driven-manufacturing-supercycle-shifts-into-high-gear><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Arya said meetings with Lam CFO Doug Bettinger reinforced management's confidence that clean-room constraints — not demand — will limit the upcycle.\nThe semiconductor sector is witnessing a remarkable...</p>\n\n<a href=\"https://www.benzinga.com/analyst-stock-ratings/reiteration/26/02/50758366/lam-research-named-top-semiconductor-pick-as-ai-driven-manufacturing-supercycle-shifts-into-high-gear\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1852331112.SGD","symbol_name":"Blackrock World Technology Fund A2 SGD-H","start_time":0,"source_url":"https://www.benzinga.com/analyst-stock-ratings/reiteration/26/02/50758366/lam-research-named-top-semiconductor-pick-as-ai-driven-manufacturing-supercycle-shifts-into-high-gear","article_id":"2613291874","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2026/02/20/Lam-Research-Sign-And-Logo-At-Semiconduc.jpeg?optimize=medium&dpr=2&auto=webp&width=260"],"rights":{"source":"benzinga_hot_news","url":"https://www.benzinga.com/analyst-stock-ratings/reiteration/26/02/50758366/lam-research-named-top-semiconductor-pick-as-ai-driven-manufacturing-supercycle-shifts-into-high-gear","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2613291874","pubTimestamp":1771610820,"columns":[],"sourceInfo":{"source_id":"benzinga_hot_news","name":"Benzinga"},"weMediaInfo":null,"summary":"BofA Securities analyst Vivek Arya has named Lam Research (LRCX) his top pick in the semiconductor equipment sector, citing a projected $135 billion industry spending surge for 2026. As AI-driven demand for advanced memory and logic chips outstrips current factory capacity, Lam is positioned to lead a multi-year manufacturing boom that could extend well into 2027.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU1046421795.USD":"富达环球科技A-ACC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","BK4588":"碎股","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","BK4147":"半导体设备","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4518":"OLED概念","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LRCX":"拉姆研究","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","BK4551":"寇图资本持仓","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","SG9999002232.USD":"Allianz Global High Payout USD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0444971666.USD":"天利全球科技基金","LU0238689110.USD":"贝莱德环球动力股票基金","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LRCU":"2倍做多LRCX ETF-Tradr","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC"},"translate_title":"随着人工智能驱动的制造业超级周期进入高速发展，泛林研究被评为最佳半导体选择","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LRCX":1.5,"LRCU":0.6},"content_text":"Arya said meetings with Lam CFO Doug Bettinger reinforced management's confidence that clean-room constraints — not demand — will limit the upcycle.\nThe semiconductor sector is witnessing a remarkable upswing in demand, particularly in wafer fabrication equipment (WFE), the analyst said.\nThis surge is mainly capacity-driven, suggesting a strong year ahead for companies like Lam and Applied Materials, Inc (NASDAQ:AMAT), which are well-prepared to meet this rising demand, he said.\nWith a projected industry-wide spending of $135 billion in 2026, escalating by 23% year-over-year, the momentum could spill over into 2027, Arya noted.\nAfter doubling its capacity footprint over the past four years, Lam believes its production network and supply chain remain healthy, with lead times mostly unchanged and room to expand further if needed, Arya noted.\nArya said foundry/logic and DRAM continue to anchor demand, while NAND upgrades are accelerating within a $40 billion opportunity where Lam holds a differentiated position.\nManagement believes that upgrade activity alone may not meet rising bit demand from inference workloads, potentially requiring future NAND greenfield expansion, according to the analyst.\nHe also noted that Lam generates roughly 90% of its sales from etch and deposition tools and continues to gain share as the intensity of advanced 3D and vertical devices rises.\nArya said Lam's gross margins remain just below 50%, and management acknowledged it will need to update its margin target. However, it does not expect a dramatic increase given the company's fixed-cost structure and gradual pricing pass-through under volume agreements.\nInstead, management is focusing on optimizing operating margins in the mid-30% range, the analyst said.\nArya reiterated a Buy rating and a $285 price forecast, calling Lam his top semicap pick.\nHe said the company plans to refresh its 2028 target model later this year and outlined a scenario in which Lam could generate at least $9 in EPS power in a stronger long-term WFE environment.\nLRCX Price Action: Lam Research shares were up 2.08% at $242.32 at the time of publication on Friday. The stock is trading near its 52-week high of $251.87, according to Benzinga Pro data.\nPhoto by Michael Vi via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2613291874","isCrawlerRequest":true}