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Lam Research Receives IBD Stock Rating Upgrade

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The IBD SmartSelect Composite Rating for Lam Research ( LRCX ) rose from 94 to 96 Friday.

[ibd-display-video id=3105496 width=50 float=left autostart=true] The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria.

Lam Research is currently forming a double bottom , with a 218.58 buy point. See if the stock can break out in heavy trade at least 40% above average. Keep in mind that it's a later-stage base, which makes it a riskier entry point.

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The stock sports a 99 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 99% of all stocks.

Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.

The company posted 94% earnings growth for Q2. It has now posted accelerating EPS increases for two consecutive quarters. Revenue growth fell to 37%, down from 52% in the previous quarter.

Lam Research earns the No. 2 rank among its peers in the Electronics-Semiconductor Equipment industry group. ASML ( ASML ) is the No. 1-ranked stock within the group.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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