Chart Says This Chip Stock Is a Buy

by Sam Collins | October 3, 2013 1:09 am

Lam Research (LRCX[1]) — This is one of the leading manufacturers of etch products, used to etch away portions of films to create integrated circuits (IC).

This large-cap chip company is expected to see sales increase 22% in fiscal 2014, ended in June, helped by the acquisition of Novellus. And analysts look for another 7% increase in fiscal 2015. Earnings are estimated at $3.83 per share in fiscal 2014 and $4.48 in fiscal 2015.

Last week, LRCX broke from a quadruple-top at $51 on a sharp volume spike. The trading target is $57, but investors could also buy LRCX for long-term appreciation.

10 03 13 lcrx 300x198 Chart Says This Chip Stock Is a Buy
Click to Enlarge

chart key 300x84 Chart Says This Chip Stock Is a Buy[2]

Endnotes:
  1. LRCX: http://studio-5.financialcontent.com/investplace/quote?Symbol=LRCX
  2. [Image]: http://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

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