Movement Alert｜Lam Research Rises 3.29% in Regular Trading, Semiconductor Equipment Sector Rebounds as Multiple Banks Set High Target Prices

Market Focus06-29 21:45

On June 29, Lam Research rose 3.29% in regular trading, trading at $388.38/share, with turnover of $395 million, extending a recovery trajectory following a sharp prior selloff.

On the news front, the semiconductor equipment sector rallied broadly, with Applied Materials up 4.4%, KLA-Tencor up 4.47%, and ASML up 1.37%, reflecting an oversold rebound pattern. The stock had declined approximately 4.59% on June 26 amid sector-wide weakness before stabilizing. Supporting the recovery, Bank of America Securities raised its target price on Lam Research significantly from $330 to $480, Wells Fargo lifted its target to $450 from $320 maintaining an Overweight rating, and Citi similarly raised to $450, citing DRAM supply tightness driving structural NAND demand growth and a potentially extended industry upcycle. Rothschild & Co Redburn also adjusted its target to $420 from $305. With the current share price still well below consensus targets, the gap provides fundamental support for the rebound.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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