Shares of Lam Research surged 5.10% during intraday trading on Tuesday, highlighting a significant upward move for the semiconductor equipment maker.
The rally follows news that Lam Research International Sdn. Bhd., a unit of the company, completed the sale of machinery equipment to ASE Technology Holding for T$5.01 billion (approximately $157.2 million). This substantial transaction represents a positive revenue event for Lam Research.
Concurrently, the stock received a significant boost from a series of bullish analyst actions. Susquehanna raised its price target on Lam Research to $475 from $385, maintaining a Positive rating. This move is part of a broader wave of upgrades from major investment banks, including Bank of America Securities, Wells Fargo, and Citi, with analysts citing DRAM supply tightness driving structural growth in NAND demand and a potentially extended industry upcycle.
The strength was also reflected across the semiconductor equipment sector, contributing to the positive momentum for Lam Research shares.