Lam Research Corporation (LRCX) was a big mover last session with its shares rising nearly 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $52.11 to $57.68.
This manufacturer of semiconductor processing equipment has seen no estimate revision in the last 30 days. However, the Zacks Consensus Estimate has moved higher over the same time frame. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s rally can turn into more strength down the road.
Lam Research currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Some other stocks worth considering in the broader technology sector include Alliance Fiber Optic Products Inc. (AFOP), Nidec Corp. (NJ) and Arrow Electronics, Inc. (ARW). While AFOP and NJ sport a Zacks Rank #1 (Strong Buy), ARW carries the same Zacks Rank as Lam Research.
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