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Lam Research Shares Sinking Lower, Down 1.3%

Published on Wed, 03/13/2013 - 10:24
By Adrienne Chilton

Lam Research (NASDAQ:LRCX), a company whose shares are moving quickly, is trading 1.3% lower to $41.75. The Dow is trading fractionally lower to 14,435 and the S&P is currently trading fractionally lower to 1,552.

In the past 52 weeks, shares of Lam Research have traded between a low of $31.17 and a high of $45.29 and are now at $41.75, which is 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.2%.

Potential upside of 9.4% exists for Lam Research, based on a current level of $41.75 and analysts' average consensus price target of $45.67. The stock should find initial support at its 50-day moving average (MA) of $40.84 and further support at its 200-day MA of $36.59.

Lam Research Corporation manufactures, markets, and services semiconductor processing equipment used in the making of integrated circuits. The Company's products are used to deposit special films on a silicon wafer and etch away portions of various films to create a circuit design. Lam sells its products around the world.

By Adrienne Chilton