Buy The Dip On These 10 Semiconductor Stocks Tumbling On China H20 Chip Sale Ban

5. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 84

Lam Research Corporation is a manufacturer, refurbisher, service provider, designer, and marketer of semiconductor processing equipment. It provides SABRE electrochemical deposition products, ALTUS systems, and VECTOR plasma-enhanced CVD products.

Analysts at Susquehanna recently upgraded the company from Neutral to Buy with an increased price target of $125 from $75. This upgrade was a result of the introduction of new products and a fresh strategy to expand the firm’s market presence.

Oppenheimer also started coverage of the company last month. The financial services firm assigned an Outperform rating to the company with a target price of $95.

Oppenheimer analysts Edward Yang and Kevin Lee highlighted the company’s growth potential by saying:

“LRCX is currently down ~30%, which we think creates a nice buying opportunity if no recession, as it’s outperformed the S&P 500 in 7 of the last 10 years, 35% over 5 years, and 240% over 10 years, Lam’s hard-to-replicate technology, strong mgmt., and capital stewardship support long-term value.”

According to the 33 different analyst ratings, the company has a highest target price of $125, which means it has a potential upside of 75% from the current levels if the bull scenario proves accurate. Investors, however, may want to wait a little to see how the tariffs-induced dip plays out before taking a position in the stock.