On August 5, Lam Research declined 3.01% in regular trading, trading at $307.45/share, with turnover of $768 million. The semiconductor equipment sector broadly weakened again, intensifying profit-taking pressure following the stock's massive post-earnings rally.
The sector decline was broad-based, with Applied Materials down 2.05%, ASML Holding down 1.38%, and KLA Corporation down 1.36%. Lam Research had surged over 23% in a single session on July 30 after reporting record quarterly results — adjusted EPS of $1.82 beat consensus of $1.68 by 8.33%, revenue of $6.72 billion hit an all-time high, and Q1 guidance of $7.70-$8.50 billion in revenue far exceeded the $7.11 billion estimate. Since then, the stock has oscillated between profit-taking and technical recovery, with today's renewed sector weakness extending the pullback. Several investment banks recently adjusted price targets — Deutsche Bank lowered to $320 from $385 and B. Riley to $350 from $385 — though all maintained buy ratings, reflecting cautious expectations on near-term valuation recovery.
(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.)
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