Why Lam Research Shares Are Moving

Lam Research Corporation LRCX shares are trading lower by 5.2% to $742.94 going into the close of Tuesday's session. Shares of semiconductor and chip stocks are trading lower as Treasury yields rise, which has weighed on tech stocks.

The sector may be down in sympathy with ASML, which dropped following the Netherlands' decision to block the export of some lithography systems to China. The sector may also be pulling back after gaining in 2023.

What Happened With ASML?

ASML Holding's stock fell Tuesday as the Netherlands imposed restrictions on the export of key lithography systems, the NXT:2050i and NXT:2100i, vital for advanced microprocessor production.

This move echoes prior U.S. export limits and complies with a September rule mandating Dutch semiconductor firms to seek government approval for exporting certain chip-making equipment...Read More

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According to data from Benzinga Pro, LRCX has a 52-week high of $801.29 and a 52-week low of $407.27.