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Lam Research (LRCX) Catches Eye: Stock Jumps 7.7%

Zacks Equity Research
Updated

Lam Research Corporation LRCX was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $184.07 to $197.88 in the past one-month time frame.

The upmove came after a Susquehanna analyst upgraded the stock and also increased its target price, citing favorable industry outlook.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Lam Research currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

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Lam Research Corporation Price

Lam Research Corporation Price | Lam Research Corporation Quote

A better-ranked stock in the Semiconductor Equipment - Wafer Fabrication industry is Advanced Energy Industries, Inc. AEIS, holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is LRCX going up? Or down? Predict to see what others think:Up or Down

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Lam Research Corporation (LRCX) : Free Stock Analysis Report
 
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