Lam Research Corporation (NASDAQ: LRCX) — This company supplies wafer fabrication equipment and services to the semiconductor industry.
The stock has been in a bull market since 2002, going as high as $60 and as low as $15 during that time.
Credit Suisse Equity Research said that Lam is the cheapest large-cap stock in its industry. It recently raised its earnings estimates from $3.47 to $4.63, and upped its price target to $52.
Technically the stock is in a powerful bull market with support at its 200-day moving average and its bullish support line.
LRCX is a volatile stock, so it could pull back to below $40 before breaking through the complex triple-top at $44. A break from $44 could yield a target of $55. It would be wise to enter a stop-loss order at $36.
If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.
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