Lam Research (LRCX) NewsBite - LRCX Rises on Analyst's Comments

Posted: Monday, November 03, 2008 10:47 AM EDT

Lam Research (NasdaqNM: LRCX) opened at $23.04. So far today, the stock has hit a low of $22.55 and a high of $23.47. LRCX is now trading at $22.96, up $0.60 (2.68%). Over the last 52 weeks the stock has ranged from a low of $17.55 to a high of $49.60. LRCX shares are trading higher after a Citi Investment Research analyst said that chipmakers have been oversold, and that the risk-and-reward ratio has improved for these companies. This could be a good sign for LRCX, whose products are marketed to chipmakers. Technical indicators for the stock are neutral and S&P gives LRCX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on LRCX the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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