On June 30, Lam Research rose 3.16% overnight, trading at $424.25/share, with turnover of $7.2029 million, extending its post-selloff recovery trend.

On the news front, Susquehanna raised its price target on Lam Research significantly from $385 to $475, maintaining a positive rating. This adds to a wave of upgrades from major investment banks: Bank of America Securities raised its target from $330 to $480, Wells Fargo raised to $450 from $320 maintaining an overweight rating, Rothschild raised to $420 from $305 maintaining a buy rating, and Oppenheimer raised to $400 from $330. The concentrated upward revisions reflect institutional consensus that DRAM supply tightness is driving structural NAND demand growth, with the industry upcycle expected to extend. The current stock price remains below the median target across major banks, supporting continued valuation recovery.

The broader semiconductor equipment sector strengthened in tandem, with Applied Materials up 5.31%, KLA-Tencor up 2.66%, and ASML up 0.75%, reinforcing the sector-wide rebound momentum.

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