On June 15, Lam Research rose 4.32% in regular trading, trading at $386.96/share, with turnover of $372 million. The rally was driven by a wave of investment bank target price upgrades and a significant equipment procurement order.
On the news front, Oppenheimer raised its target price from $330 to $400, maintaining an outperform rating. UBS lifted its target from $310 to $375, maintaining a buy rating. Barclays raised its target from $275 to $335, maintaining an equal weight rating. Wells Fargo also raised its target to $365, maintaining an overweight rating. Additionally, Powertech Technology announced a procurement of advanced machinery equipment from Lam Research totaling NT$773.77 million, underscoring robust downstream demand for the company's semiconductor processing tools.
Within the Semiconductor Equipment sector, broad strength was evident. Among individual stocks, AXT Inc up 12.46%, Teradyne up 6.99%, Applied Materials up 3.37%, KLA-Tencor up 2.40%, ASML Holding up 0.76%.
(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.)