Movement Alert｜Lam Research Rises 3.13% Overnight, Semiconductor Equipment Sector Rebounds as Multiple Banks Set High Target Prices

Market Focus06-29 15:31

On June 29, Lam Research rose 3.13% in after-hours trading, trading at $391.9/share, with turnover of $13.57 million, continuing its recovery after a sharp pullback earlier in the week.

On the news front, the semiconductor equipment sector rallied broadly, with Applied Materials up 3.07%, KLA-Tencor up 2.55%, ASML up 1.13%, and Teradyne up 1.04%. Multiple investment banks have recently issued significantly elevated target prices for the company: Bank of America Securities raised its target from $330 to $480, Wells Fargo raised from $320 to $450 maintaining an Overweight rating, and Citi similarly raised to $450, citing DRAM supply tightness driving structural NAND demand growth and potentially extending the industry upcycle. The current share price remains well below these targets, providing fundamental support for the ongoing bounce from oversold levels.

(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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