On August 11, Lam Research rose 3.03% in regular trading, trading at $315.83 USD/share, with turnover of $210 million.

On the news front, Bernstein raised its price target on Lam Research from $360 to $385 while maintaining an Outperform rating. The FactSet consensus average target price currently stands at $381.93. The upgrade comes as the broader semiconductor equipment sector rallied, with ASML up 4.28%, KLA up 4.60%, Teradyne up 5.06%, and Applied Materials up 2.60%.

The target price increase builds on Lam Research's record quarterly results reported in late July, where adjusted EPS of $1.82 beat consensus estimates of $1.68 by 8.33%, revenue reached a record $6.72 billion, gross margin expanded to 51.7%, and next-quarter guidance of $7.70-$8.50 billion in revenue and $2.00-$2.30 in EPS far exceeded analyst expectations of $7.11 billion and $1.84, respectively. The combination of investment bank upgrades and sector-wide momentum continues to support the stock's recovery trajectory.

(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.)