Lam Research (LRCX) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, LRCX broke through the 50-day moving average, which suggests a short-term bullish trend.
Zacks.com users have recently been watching Lam Research (LRCX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The semiconductor-equipment company's board approves a $10 billion share repurchase authorization and a 10-for-1 split of its common stock.
Lam Research reported its third quarter of FY2024. Management's raised wafer fab equipment market for 2024 confirms my positive outlook on the stock. I think the memory market bounce back will support more outperformance for Lam in FY2025 with NAND-related sales expected to grow in particular. Also, I'm not worried about the sustainability of the higher shipments to China because I think the global semi recovery will fill whatever gap the sales to China leave.