On September 21, Lam Research rose 3.06% in regular trading, trading at $296.88/share, with turnover of $662 million. The rally was driven by a series of strategic expansion announcements and analyst upgrades that have sustained bullish momentum across the semiconductor equipment sector.

On the news front, Lam Research recently announced at the SEMICON India conference in New Delhi that it plans to invest approximately 100 billion rupees (about $1 billion) to build its first local manufacturing facility in India, while expanding advanced R&D operations and talent development in the country. At the same event, Applied Materials pledged $5 billion in India investments over the next decade, and Micron Technology confirmed that its Gujarat plant has commenced mass production, collectively reinforcing positive sentiment for the sector.

Additionally, Lam Research had previously disclosed plans to invest over $3 billion over the next five years to expand its global R&D lab network, boosting experiment capacity by more than 50%, and is constructing a new Oregon lab dedicated to advanced AI chip development. Berenberg recently raised its price target on the stock to $420 from $350 while maintaining a Buy rating, with the consensus mean target standing at approximately $384.

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