On October 1, Lam Research rose 3.25% overnight, trading at $339.19 per share, with turnover of $3.7822 million. The stock is rebounding alongside the broader semiconductor equipment sector after the recent selloff triggered by the Federal Reserve's 25-basis-point rate hike to the 3.75%-4.00% range, which pushed the 10-year U.S. Treasury yield above 5%.

The rate hike, the first in three years, had pressured valuation-sensitive semiconductor names, with Lam Research previously declining over 3% in a single session. The sector has since entered a collective recovery phase, with Applied Materials up 3.39%, AXT Inc up 3.55%, Teradyne up 2.92%, KLA Corporation up 2.71%, and ASML up 1.42%.

On the fundamental side, Lam Research recently announced plans to invest over $3 billion over five years to expand its global R&D laboratory network in support of advanced AI chip development. The company also raised its quarterly dividend to $0.33 per share, with multiple investment banks maintaining buy ratings and an average target price of approximately $384, significantly above the current stock price. Earnings are next scheduled for October 21.

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