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Why ActionAlertsPLUS Likes Lam Research

The Semiconductor sector is on fire. Following positive comments about chip demand later in the year from top chipmaker Broadcom , as well as a price target hike from Citi, Lam Research was rising more than 5% on Friday Broadcom's stock was up almost 11% on Friday on their earnings results, pulling other semi stocks up along with it. In addition to Lam, Applied Materials was up 4.4%, MKS was up 7.5% and ASML was rising 4.9% and AMD was up 3.1%. The Philadelphia Semiconductor Index was up 3.3% on Friday. In the ActionAlertsPLUS exclusive Members Only call last month Senior Portfolio Analyst Jeff Marks broke down why the AAP team likes Lam Research. "They're basically, going to act as the building block to the data economy, right? Everything that needs D-RAM, NAND, memories, semiconductors; that's gonna be Lam who's going to be the supplier of the equipment who makes that." Citi raised its price target on Lam to $215 following channel checks it conducted that indicated NAND memory equipment orders had picked up for the company. Citi analyst Atif Malik wrote that he believes the improvement reflects higher equipment spending by top-tier NAND makers such as Samsung and Toshiba. Malik also said he believes fundamentals for NAND have "hit a trough." Lam shares are up 37% so far this year. Will You Have Enough Money to Retire? Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here. This video was originally published by TheStreet.

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