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- 1 Recently, Lam Research introduced the industry’s first bevel deposition, Coronus DX.
- 2 Company shares were trading at a market price of $608.76 at press time.
Global semiconductor supply is not in sync with the demand. Last year proved extremely volatile with the first half seeing a flourishing growth while the other half witnessed a slowdown. Shares of Lam Research Corporation (NASDAQ: LRCX), an American wafer fabrication supplier, remained volatile over the past 1 year. LRCX stock price closed at $608.76 on Friday, down by 1.79% since the previous close.
Lam Research Revenue Has Increased Over Couple of Years
The company has 17.7K employees with a market capitalization of $81.781 Billion. Price to earnings ratio has remained below 20 for some time, a good sign of profitability. Revenue appears to be rising with Lam Research gaining 45.66% between 2020 and 2021, and another 17.48% in the 2021-2022 period. The organization has generated $18.84 Billion in the trailing twelve months.
According to a recent press release, Lam Research introduced the industry’s first bevel deposition, Coronus DX. The latest product is designed to prevent damages in wafer edges that may occur during advanced semiconductor manufacturing. Lam Research’s VP of Global Products Group, Sesha Varadarajan, believes it will help produce significantly higher yields.
Lam Research announced Semiverse Solutions, a suite of computational products to enhance workforce productivity, on June 22, 2023 according to a company blog. The initiative may cut operations costs significantly while also reducing time consumed in physical experimentation considerably.
LRCX Stock Price Performance
Chart shows LRCX stock value was slashed by half during January and October 2022. However, the shares have recovered successfully, with the price rising by over 100% between October 2022 and June 2023. An elliott wave is highlighting a short correction between November and December 2022 and a long correction between January and May 2023.
The TRIX indicator has started falling, however, still way above the zero line, exhibiting the price may advance positively. Rising wedge pattern highlights a breakthrough in LRCX stock price came during May. Additionally, a bullish pennant is supporting a potential gain in the coming days.
True strength indicator (TSI) has crossed below the signal line, a negative indication for LRCX stock, while average true range (ATR) is at 17.08 points, indicating a drop in volatility. Currently, the price holds support near $590 and resistance around $645.
The artificial intelligence (AI) boom is compelling several tech companies to adopt the technology to boost efficiency and output. Tech giants developing AI will generate higher semiconductor demand considering new advancements will require higher commuting power.
Other semiconductor stocks also declined through the week with Intel Corporation (NASDAQ: INTC) falling by almost 10%, Nvidia (NASDAQ: NVDA) by 4% and Advanced Micro Devices (NASDAQ: AMD) by 11%.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
