Movement Alert|Lam Research Rises 3.9% in Regular Trading, Powerchip Semiconductor 10.4 Billion NTD Order and Target Price Upgrade to $420 Boost Sentiment

Market Focus
Jun 17

On June 17, Lam Research rose 3.9% in regular trading, trading at $390.78/share, with turnover of $168 million. The stock rebounded sharply after falling 3.01% on June 16 due to director share sales and a sector-wide pullback.

On the news front, Powerchip Semiconductor announced a 10.4 billion NTD procurement of machinery and related facilities from Lam Research International for manufacturing purposes, further validating robust downstream demand for semiconductor equipment. Additionally, Rothschild & Co Redburn raised its target price from $305 to $420, maintaining a Buy rating. This follows recent upgrades from Oppenheimer (to $400), UBS (to $375), Wells Fargo (to $365), and Barclays (to $335).

Within the Semiconductor Equipment sector, the broad rebound was pronounced. Among individual stocks, Applied Materials up 7.24%, ASML Holding up 5.44%, Teradyne up 6.4%, KLA-Tencor up 3.74%, AXT Inc down 0.15%.

(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.)

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