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Lam Research: The Winning Streak Continues (LRCX)

By Nick Russo

Shares of Lam Research (NASDAQ:LRCX) traded at a new 52-week high today of $235.80. Approximately 229,000 shares have changed hands today, as compared to an average 30-day volume of 1.7 million shares.

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.

In the past 52 weeks, shares of Lam Research have traded between a low of $122.64 and a high of $235.80 and are now at $233.67, which is 91% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.9%.

Lam Research (NASDAQ:LRCX) has potential upside of 13.2% based on a current price of $233.67 and analysts' consensus price target of $264.55. The stock should discover initial support at its 50-day moving average (MA) of $200.88 and subsequent support at its 200-day MA of $178.68.

SmarTrend recommended that subscribers consider buying shares of Lam Research on August 19th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $209.18. Since that recommendation, shares of Lam Research have risen 11.9%. We continue to monitor LRCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows lam research

Ticker(s): LRCX