BlockBeats News, June 10th, according to market sources, UBS has raised the target price of Lam Research (LRCX), a semiconductor equipment giant and a key supplier for AI chip manufacturing, to $375 (previously $310), while maintaining a Buy rating.

UBS's move comes after a series of positive analyst actions and builds on the momentum accumulated following KLA Corporation's strong third-quarter results announced in April. In that earnings report, the company's revenue and earnings per share both exceeded expectations. The stock's strength is also benefiting from the surge in semiconductor industry demand being driven by artificial intelligence expansion, as well as the support for expected increases in spending on wafer fabrication equipment (machines used to manufacture computer chips).