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Chart Says This Chip Stock Is a Buy

Lam Research broke from a quadruple-top on a sharp volume spike


Lam Research (LRCX) — 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.

LRCX Chart
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