#7 - Lam Research (NASDAQ:LRCX)
It may surprise you not to see Nvidia on this list. Then again, if you're looking for a different way to play the supercycle in the chip sector, Lam Research Corp. (NASDAQ: LRCX) is a good option. That may have been the thinking of the two representatives and one Senator who purchased LRCX in January 2023.
These seemed like well-timed buys, as LRCX stock is up 17% in 2024. The company makes the wafer fabrication equipment that chipmakers need.
At over $938 a share, the stock looks a little toppy. To that end, the Lam Research analyst ratings on MarketBeat give the stock a $793.27 price target, which is 15% lower than the price on February 29, 2024. However, they also maintain a Moderate Buy rating. This suggests that if you didn't get in on the stock like the members of Congress did, you may want to wait for a pullback.
This is one for the watchlist. But with demand for AI chips continuing to rise, Lam Research looks like it has a decent runway for growth.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
Read More - Current Price
- $77.04
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $97.24 (26.2% Upside)
The recent trade disclosed by Rep. Pelosi is not the first time, nor will it be the last time members of Congress have profited from a "well-timed" trade.
You can be outraged over what seems to be legalized insider trading among members of Congress. You also know that getting mad about it isn't going to change anything.
And I wouldn't hold my breath waiting for meaningful laws to be passed.
There is, however, an opportunity for you to use this trading to your advantage.
MarketBeat has a new tool that can help you easily find the stocks that U.S. Congress members are buying and selling. This is a free tool that you can find under the Financial Calendars tab on MarketBeat.com.
Like all of our stock screeners, you can filter your search by time frame, political party, and many stock-specific filters such as market cap and analyst consensus.
It's another tool that MarketBeat provides to give you access to information that keeps you informed. It's one data point, but as the saying goes, if you can't beat them, join them.
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