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.

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