On October 13, Lam Research fell 3.27% in Regular Trading, trading at $300.8991 per share, with turnover of $145 million.
The move coincided with broad weakness across semiconductor equipment stocks rather than a company-specific negative surprise. Recent analyst actions were modestly positive, including a Wells Fargo target increase to $355 from $350 and a Morgan Stanley target increase to $385 while maintaining an overweight view, but those revisions did not reverse the sector’s adjustment.
Peer performance reinforced the industry-wide pressure: Applied Materials fell 3.65%, KLA fell 2.22%, Teradyne fell 2.98%, ASML fell 1.91%, and AXT fell 1.26%. Lam Research is scheduled to report its next quarterly results on October 21, with expected EPS of $2.17, which may also be contributing to a more cautious tone.
(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.)