On June 25, Lam Research rose 6.03% overnight, trading at $395.4/share, with turnover of $207,000, extending a rebound following the prior session's significant selloff.

On the news front, Bank of America Securities raised its target price on the company from $330 to $480. Previously, Wells Fargo had also lifted its target from $320 to $450 while maintaining an Overweight rating, and Citi simultaneously raised its target to $450, updating its global wafer fabrication equipment optimistic scenario forecast to $250 billion for 2028. Citi noted that DRAM supply tightness is driving structural NAND demand growth, potentially extending the industry upcycle further.

Within the Semiconductor Equipment sector, individual stocks broadly rebounded, with AXT Inc up 8.35%, Applied Materials up 5.54%, ASML Holding up 5.12%, Teradyne up 4.69%, and KLA-Tencor up 4.38%, reflecting strong sector-wide recovery momentum following the June 23 broad-based decline.

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