Lam Research (LRCX) Boasts Earnings & Price Momentum: Should You Buy?
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When stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.
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The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.
Focus List Spotlight: Lam Research (LRCX)
Established in 1980 and headquartered in Fremont, CA, Lam Research Corporation supplies wafer fabrication equipment and services to the semiconductor industry. Its products are used by semiconductor manufacturers in front-end and WLP processes, creating memory, microprocessors, and other logic integrated circuits for a broad range of electronic devices.
On December 5, 2016, LRCX was added to the Focus List at $100.49 per share. Shares have increased 538.98% to $642.11 since then, and the company is a #1 (Strong Buy) on the Zacks Rank.
For fiscal 2021, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.83 to $26.71. LRCX boasts an average earnings surprise of 11.1%.
Earnings for LRCX are forecasted to see growth of 67.5% for the current fiscal year as well.
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