Needham & Company LLC analysts reiterated its Buy rating on Lam Research Corp. (NASDAQ: LRCX) in a note to investors, making it one of the more closely watched stocks on Wall Street. Needham & Company LLC currently has a rating of Buy on the stock. The one-year price target of $101.39 is higher than the opening price of $92.65, that has caused a number of other analysts to report on the company recently. Looking back over the last 52 weeks, Lam Research Corp. stock has a high of $95.77. Usually, after analysts issue a “reiterated rating” report on a stock, they will later issue periodic revisions, such as a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Lam Research Corp. (NASDAQ: LRCX) opened at $92.65 yesterday trading between $91.72 and $93.11, and last traded at $91.98, which is a decrease of $0.17 compared to the previous closing price.
Lam Research Corp. (NASDAQ: LRCX) currently has a market cap of 14.74B.
The stock’s average daily volume is 2,280,270 shares out of a total float 159,601,000 and some 1,869,844 shares crossed the trading desk yesterday, 121 percent lower than the average. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to determine heavy volume growth or dissemination by institutional investors.
While an increase in trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Lam Research Corp. (NASDAQ: LRCX) have ranged from $61.20 – 95.77, and the stock now has a 50-day MA of $92.28 and 200-day MA of $84.28. Today’s last price is 0.04% lower than the 52 week high of $95.77.
Earnings growth is a crucial factor to research when buying stocks and investors watch for companies that have been successful at growing their earnings at least 25% or more for a 3 year period.
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