RTTNews | Nov 5, 2020 10:31AM EST

10:31 Thursday, November 5, 2020 (RTTNews.com) - Shares of Lam Research Corp. (LRCX) are rising almost 4 percent or $14.45 in Thursday's morning trade at $394.79, after touching a new 52-week high of $397.61 despite no company-centric news.

U.S. stocks are rising on Thursday even though an official winner has not been declared in the race between President Donald Trump and former Vice President Joe Biden. Biden seems to be on the verge of securing the 270 electoral college votes needed to win the presidency, potentially setting up a divided government that is said to be the preference on Wall Street.

Lam Research has traded in a range of $181.38 to $397.61 in the past 52 weeks.

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