Movement Alert|KIOXIA Holdings Rises 3.56% in Regular Trading, Semiconductor Sector Recovery Combined with Nomura Target Price Upgrade Fuels Oversold Rebound

Market Focus07-20

On July 20, KIOXIA Holdings rose 3.56% in regular trading, trading at $35.87/share, with turnover of $4.09 million.

On the news front, the semiconductor sector staged a broad recovery, with peers Micron Technology up 5.56%, SK hynix up 4.9%, and Intel up 5.66%, lifting memory chip stocks to stabilize and rebound. KIOXIA had previously declined over 52% from its June peak in an extreme oversold condition. Against this backdrop, Nomura Securities on July 16 raised its target price for KIOXIA to 126,000 yen and reiterated a buy rating, with core reasoning that NAND flash bit prices continue to rise above expectations amid supply shortages, with the April-to-June quarterly bit price sequential growth forecast revised upward to +70%.

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