Movement Alert｜Lam Research Rises 3.24% in Pre-Market Trading, Semiconductor Equipment Sector Rebounds as Multiple Banks Set High Target Prices

Market Focus06-29

On June 29, Lam Research rose 3.24% in pre-market trading, trading at approximately $392.25/share with turnover of $4.35 million, extending its recovery trajectory following a sharp pullback earlier in the week.

The rebound is supported by a broad semiconductor equipment sector rally, with Applied Materials up 3.15%, KLA-Tencor up 2.91%, and ASML up 1.26%. Multiple investment banks recently issued significantly elevated target prices: Bank of America Securities raised its target from $330 to $480, Wells Fargo adjusted to $450 from $320 maintaining an Overweight rating, and Citi raised to $450 while highlighting structural NAND demand growth driven by DRAM supply tightness and an extended industry upcycle. Rothschild & Co Redburn also lifted its target to $420 from $305 with a Buy rating. The current share price remains well below most analyst targets, providing fundamental support for the technical bounce following the June 24 selloff when the stock declined over 9% amid a broad chip sector rout.

(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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