On September 29, Lam Research rose 3.07% in pre-market trading, trading at $324.68/share, with turnover of $14.38 million. The rebound follows the prior session's sharp selloff triggered by the Federal Reserve's 25-basis-point rate hike to the 3.75%-4.00% range, which pushed the 10-year Treasury yield above 5% and pressured the entire semiconductor equipment sector.

The broader semiconductor equipment sector is recovering in tandem. Among individual stocks, AXT Inc up 3.49%, Applied Materials up 3.43%, KLA Corporation up 3.04%, ASML Holding up 2.18%, and Teradyne up 2.03%. On September 28, Lam Research had declined over 3% alongside peers including AXT Inc, Applied Materials, and Teradyne.

On the fundamental side, Lam Research recently announced a more than $3 billion investment over the next five years to expand its global R&D lab network supporting advanced AI chip development. The company also raised its quarterly dividend to $0.33 per share from $0.26. Multiple investment banks maintain buy ratings, with the mean price target at approximately $384, well above the current trading level.

(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.)