The stock surged over 8% after Wells Fargo upgraded it to Overweight, citing strong demand for advanced chips. Positive quarterly results and increased capital expenditure plans from major customer Taiwan Semiconductor Manufacturing also boosted investor sentiment. Cantor Fitzgerald raised its price target significantly. The company, a semiconductor equipment maker, was highlighted as a top long-term growth stock by hedge funds and hit a new intraday peak alongside peers, driven by optimism around AI-led demand and the broader chip sector rally.