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Lam Research Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Lam Research (NASDAQ:LRCX) traded today at a new 52-week high of $238.00. This new high was reached on below average trading volume as 215,000 shares traded hands, while the average 30-day volume is approximately 1.7 million shares.

In the past 52 weeks, shares of Lam Research have traded between a low of $122.64 and a high of $238.00 and are now at $235.78, which is 92% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.3%.

There is potential upside of 12.2% for shares of Lam Research based on a current price of $235.78 and an average consensus analyst price target of $264.55. The stock should discover initial support at its 50-day moving average (MA) of $205.47 and subsequent support at its 200-day MA of $180.91.

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.

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 13.2%. 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