Today’s Research Reports on Trending Tickers: Applied Materials and Lam Research
A selloff in technology stocks and elevated bond yields combined to pressure U.S. equities lower on Thursday. The Dow Jones Industrial Average dropped 0.22 percent to close at 24,713.98, while the S&P 500 Index declined 0.09 percent to close at 2,720.13. The Nasdaq Composite Index fell 0.21 percent to close at 7,382.47.
“Interest rates and bond yields are the elephant in the room for equity markets. As they move higher, equities will become increasingly volatile, especially since valuations are stretched and on the high side,” said Bill Kornitzer, portfolio manager at Buffalo Funds, which has about $7.5 billion in assets.
RDI Initiates Coverage on:
Applied Materials, Inc.
Lam Research Corporation
Applied Materials’ stock moved 2.19% lower Thursday, to close the day at $53.96. The stock recorded a trading volume of 16,561,967 shares, which was above its three months average volume of 13,847,467 shares. In the last year, Applied Materials’ shares have traded in a range of 40.79 – 62.40. The share price has gained 32.29% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $53.23 is below its 200-day moving average of $54.59. Shares of the company are trading at a Price to Earnings ratio of 20.32. Shares of Applied Materials have fallen roughly 6.74 percent in the past month and are up 5.56 percent year-to-date.
Access RDI’s Applied Materials, Inc. Research Report at:
On Thursday, shares of Lam Research recorded a trading volume of 2,309,844 shares, which was below the three months average volume of 3,508,669 shares. The stock ended the day 1.73% lower at $203.33. The share price has fallen 13.43% from its 52 week high with a 52 week trading range of 139.24 – 234.88. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $196.86 is below its 200-day moving average of $197.60. Shares of the company are trading at a Price to Earnings ratio of 22.33. Shares of Lam Research have fallen roughly 4.24 percent in the past month and are up 10.46 percent year-to-date.
Access RDI’s Lam Research Corporation Research Report at:
Our Actionable Research on Applied Materials, Inc. (NASDAQ:AMAT) and Lam Research Corporation (NASDAQ:LRCX) can be downloaded free of charge at Research Driven Investing.
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