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Berenberg Bank Thinks Lam Research’s Stock is Going to Recover

Berenberg Bank analyst Tammy Qiu maintained a Buy rating on Lam Research (LRCXResearch Report) on May 3 and set a price target of $840.00. The company’s shares closed last Friday at $478.23, close to its 52-week low of $449.50.

According to TipRanks.com, Qiu is a 4-star analyst with an average return of 10.9% and a 54.4% success rate. Qiu covers the Technology sector, focusing on stocks such as Infineon Technologies AG, Fiserv, and Adyen.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lam Research with a $644.44 average price target, implying a 35.2% upside from current levels. In a report issued on April 18, B.Riley Financial also maintained a Buy rating on the stock with a $625.00 price target.

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The company has a one-year high of $731.85 and a one-year low of $449.50. Currently, Lam Research has an average volume of 1.36M.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LRCX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1980, California-based Lam Research Corp. manufactures, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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