New York, Feb 5, 2026, 12:22 PM EST — Regular session
Lam Research Corp shares climbed 1.6%, reaching $213.12 by midday Thursday, following a rebound in semiconductor equipment stocks after a steep drop the day before. Applied Materials edged up 0.4%, KLA jumped 2.2%, and ASML rose 1.4%.
The rebound follows a sharp 8.83% drop for Lam, which closed Wednesday at $209.78 after dipping to $205.11 earlier in the day. Volume surged to roughly 19.6 million shares, up from around 13.5 million on Tuesday, according to historical data. 1
Chip-related stocks have been volatile alongside the broader AI sector, which is jittery amid debates on valuations and when heavy investments will pay off. “The stock market is having a really hard knowing where to price the stocks,” said Jed Ellerbroek, a portfolio manager at Argent Capital, following Wednesday’s sell-off. 2
Company news made waves this week. Lam announced that Sesha Varadarajan steps in as chief operating officer starting March 6. Meanwhile, Karthik Rammohan will oversee expanded operations duties, and longtime exec Pat Lord is retiring. “Pat’s leadership has helped build the Lam we know today,” CEO Tim Archer remarked. 3
Lam confirmed it has named Cadence Design Systems CEO Anirudh Devgan to its board, bringing in a top executive from the chip-design software world. “We are pleased to welcome him to our board,” said chair Abhijit Talwalkar. 4
An SEC filing revealed Lam submitted an amended Form 8-K to swap out a wrong version of the management-transition press release originally attached to its first report. The amendment clarified that the press release on the company’s website “was, and remains, accurate.” 5
On Thursday, another SEC filing revealed Lord acquired 63,345 Lam shares at no cost, settling performance-based restricted stock units. Form 4 filings are mandatory disclosures for insider transactions and holdings. 6
Lam sells etch and deposition tools—the gear chipmakers rely on to stack layers on a wafer—and its stock often swings based on what investors expect for customer capital spending. On any given day, the shares might trade as a stand-in for AI buildouts or flip to feeling like a valuation headache.
But the bounce can vanish quickly. Should customers cut back on spending, export restrictions tighten once more, or macro data drive bond yields up, chip equipment stocks usually take the hit first — and they often drop together.
Traders are eyeing the U.S. January employment report next, now scheduled for Feb. 11. The Bureau of Labor Statistics pushed back several key releases due to a brief federal government shutdown. 7
