Benzinga | Sep 29, 2021 01:18PM EDT

Why Lam Research Shares Are Falling

Shares of semiconductor, chip and memory companies, including Lam Research Corporation (NASDAQ:LRCX) are trading lower in sympathy with Micron, which issued first-quarter EPS and sales guidance below estimates.

Shares of technology companies at large are also trading lower this week amid a rise in bond yields, which has weighed on growth stock valuations.

Lam Research manufactures equipment used to fabricate semiconductors. The firm is focused on the etching, deposition, and clean markets, which are key steps in the semiconductor manufacturing process, especially for 3D NAND flash storage, advanced DRAM and leading-edge logic/foundry chipmakers.

Lam Research is trading lower by 2.9% at $568.74. Lam Research has a 52-week high of $673.80 and a 52-week low of $328.56.