Lam Research Corporation’s Stock Price Plummets to $76.36, Marking an Alarming 10.90% Drop

Lam Research Corporation (LRCX)

76.36 USD -9.34 (-10.90%) Volume: 25.52M

Lam Research Corporation’s stock price is currently at 76.36 USD, witnessing a significant drop of -10.90% this trading session with a trading volume of 25.52M. Despite the recent downturn, the stock has only marginally underperformed with a YTD change of -2.51%, showcasing the resilience of LRCX in a volatile market.

Latest developments on Lam Research Corporation

Today, Lam Research (LRCX) stock price experienced a decline as Raymond James cut its stock target while maintaining an Outperform rating. The semiconductor sector, including companies like KLA and ASML, tumbled amid concerns about China sales. Despite this, Lam Research Corp. stock managed to outperform the market on Monday. Analysts at Citi also lowered Lam Research Corporation’s price target to $893, citing worries about a mid-cycle correction. However, some investors like Benson Investment Management Company Inc. and Wedge Capital Management L L P NC have been acquiring shares of Lam Research Co., seeing potential in the company’s earnings growth and price strength. With ongoing fluctuations in the semiconductor industry, Lam Research remains a stock to watch as it navigates through these challenges.

Lam Research Corporation on Smartkarma

Analysts on Smartkarma have provided varying coverage on Lam Research Corporation. Baptista Research published a bullish report titled “Lam Research Corporation: How Are They Benefitting From Advanced Memory Technologies? – Major Drivers”, highlighting the company’s solid performance in the June 2024 quarter. The report emphasized a significant increase in revenue from its Customer Support Business Group and a key operational milestone achieved by the company’s Malaysian factory.

On the other hand, William Keating took a bearish stance in his report “LRCX. Mounting Tailwinds Bode Well For 2025 & Beyond”, expressing concerns about flat revenues in the current and forecasted quarters. Keating pointed out potential challenges ahead for Lam Research, despite mentioning growth drivers like technology transitions and generative AI in the long term. Baptista Research also shared a positive outlook in another report, “Lam Research Corporation: NAND Market Recovery & Critical Opportunities That Lie Ahead! – Major Drivers”, commending the company’s strong start to 2024 and stable revenue profile.

A look at Lam Research Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Lam Research Corporation has a positive long-term outlook. With above-average scores in Resilience and Dividend, the company is well-positioned to weather economic uncertainties and provide returns to its investors. Additionally, its Growth score indicates potential for expansion and innovation in the semiconductor industry.

Lam Research‘s Smart Scores also show a steady Momentum in the market, reflecting investor confidence in the company’s performance. While the Value score is not as high as other factors, the overall outlook for Lam Research remains favorable. As a leading manufacturer of semiconductor processing equipment, Lam Research continues to play a crucial role in the production of integrated circuits worldwide.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma