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The Potential Rise in the Price of Lam Research Corp. (LRCX) following insiders activity

Lam Research Corp.’s recent filing unveils that its Chief Legal Officer Schisler George M unloaded Company’s shares for reported $0.36 million on May 03 ’24. In the deal valued at $908.21 per share,400 shares were sold. As a result of this transaction, Schisler George M now holds 5,661 shares worth roughly $5.18 million.

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Then, LORD PATRICK J sold 60 shares, generating $55,292 in total proceeds. Upon selling the shares at $921.54, the Executive Vice President now owns 4,454 shares.

Before that, TALWALKAR ABHIJIT Y sold 882 shares. Lam Research Corp. shares valued at $857,330 were divested by the Director at a price of $972.03 per share. As a result of the transaction, TALWALKAR ABHIJIT Y now holds 10,541 shares, worth roughly $9.65 million.

TD Cowen reiterated its Lam Research Corp. [LRCX] rating to a Buy in a research note published on April 25, 2024; the price target was $1000. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who increased its forecast for the stock in mid April from “a Neutral” to “a Buy”. Needham also remained covering LRCX and reiterated its “Buy” recommendation on April 18, 2024. Evercore ISI started covering the stock on April 16, 2024. It rated LRCX as “an Outperform”.

Price Performance Review of LRCX

On Friday, Lam Research Corp. [NASDAQ:LRCX] saw its stock jump 0.87% to $915.42. Over the last five days, the stock has gained 0.76%. Lam Research Corp. shares have risen nearly 16.87% since the year began. Nevertheless, the stocks have risen 73.61% over the past one year. While a 52-week high of $1007.39 was reached on 03/07/24, a 52-week low of $520.05 was recorded on 01/04/24. SMA at 50 days reached $938.79, while 200 days put it at $774.96. A total of 0.51 million shares were traded, compared to the trading of 0.58 million shares in the previous session.

Levels Of Support And Resistance For LRCX Stock

The 24-hour chart illustrates a support level at 908.04, which if violated will result in even more drops to 900.66. On the upside, there is a resistance level at 927.00. A further resistance level may holdings at 938.58. The Relative Strength Index (RSI) on the 14-day chart is 49.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.91, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 26.38%. Stochastics %K at 70.20% indicates the stock is a holding.

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