Today’s Research Reports on Trending Tickers: Lam Research and Applied Materials
U.S. equities closed higher on Tuesday, driven by upbeat corporate earnings and strong economic data. According to the Federal Reserve, U.S. industrial production went up by 0.3 percent in September compared to Wall Street expectation of 0.1 percent increase. The Dow Jones Industrial Average jumped 2.17 percent to close at 25,798.42, while the S&P 500 Index 2.15 percent to close at 2,809.92. The Nasdaq Composite Index hiked 2.89 percent to close at 7,645.49.
Jim Smigiel, chief investment officer of absolute return strategies at SEI said that “the strongest gains in equity markets are behind us,” and that volatility is possibly a match for investors going onward as “chances of a surprise on the upside are lower than on the downside,” when referring to the broader U.S. economy.
RDI Initiates Coverage on:
Lam Research Corporation
Applied Materials, Inc.
Lam Research’s stock moved 1.94% higher Tuesday, to close the day at $145.27. The stock recorded a trading volume of 3,848,096 shares, which was above its three months average volume of 2,825,058 shares. In the last year, Lam Research’s shares have traded in a range of 135.99 – 234.88. The share price has gained 6.82% 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 $155.30 is below its 200-day moving average of $178.92. Shares of the company are trading at a Price to Earnings ratio of 11.03. Shares of Lam Research have fallen roughly 5.34 percent in the past month and are down 21.98 percent year-to-date.
Access RDI’s Lam Research Corporation Research Report at:
On Tuesday, shares of Applied Materials recorded a trading volume of 10,517,296 shares, which was below the three months average volume of 12,434,170 shares. The stock ended the day 3.98% higher at $34.76. The share price has fallen 44.29% from its 52 week high with a 52 week trading range of 32.78 – 62.40. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $38.96 is below its 200-day moving average of $46.98. Shares of the company are trading at a Price to Earnings ratio of 10.65. Shares of Applied Materials have fallen roughly 11.1 percent in the past month and are down 32 percent year-to-date.
Access RDI’s Applied Materials, Inc. Research Report at:
Our Actionable Research on Lam Research Corporation (NASDAQ:LRCX) and Applied Materials, Inc. (NASDAQ:AMAT) can be downloaded free of charge at Research Driven Investing.
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