Lam Research Corporation (LRCX) Shares are Up 4.5%

Lam Research Corporation (LRCX) : Traders are bullish on Lam Research Corporation (LRCX) as it has outperformed the S&P 500 by a wide margin of 3.09% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.53%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.5% in the last 1 week, and is up 3.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Lam Research Corporation is up 21.97% in the last 3-month period. Year-to-Date the stock performance stands at 18.24%. The stock has recorded a 20-day Moving Average of 2.49% and the 50-Day Moving Average is 6.84%.


Lam Research Corporation (NASDAQ:LRCX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $92.25 and $91.46 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $93.60. The buying momentum continued till the end and the stock did not give up its gains. It closed at $93.19, notching a gain of 2.49% for the day. The total traded volume was 2,756,802 . The stock had closed at $90.93 on the previous day.

Also, Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of Lam Research Corporation (NASDAQ:LRCX). Citigroup has a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $102 per share from a prior target of $105. The rating by the firm was issued on August 12, 2016.

Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Companys products are used primarily in front-end wafer processing, which involves the steps that create the active components of a device and their wiring. It also addresses processes for back-end wafer-level packaging (WLP). In addition, its products are offered for related markets that rely on semiconductor processes and require production-proven manufacturing capability, such as micro-electromechanical systems (MEMS). Its thin film deposition systems form a devices sub-microscopic layers of conducting (metal) or insulating (dielectric) materials. It is a provider of plasma etch, a process step that selectively removes materials from the wafer to create the features and patterns of a device. Its wet spin clean and plasma-based bevel clean products remove particles, residues and film from the wafer surface before or after adjacent processes.

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