On July 29, Lam Research fell 3.06% in after-hours trading, trading at $264.56/share, with turnover of $150 million.

On the news front, memory and storage stocks suffered a broad selloff, with Micron Technology down 5.82%, SK Hynix down 6.83%, and SanDisk plunging over 11%. The weakness in storage names continued to transmit downstream to the semiconductor equipment sector, with peers KLA-Tencor falling 10.47%, Applied Materials down 3.1%, and ASML down 0.94%.

The company is scheduled to report quarterly earnings after the close on July 29, with the Street expecting EPS of $1.69, a notable increase from $1.47 in the prior quarter. Pre-earnings capital repositioning has further amplified short-term volatility. Multiple investment banks have recently raised their price targets on Lam Research, with UBS setting a target of $435, Stifel at $425, Mizuho at $400, and Evercore ISI at $355, all well above current levels, suggesting analysts remain constructive on fundamentals despite near-term selling pressure.

(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.)