Lam Research (LRCX) NewsBite - LRCX Upgraded By Caris & Company

Posted: Thursday, October 22, 2009 11:54 AM EDT

Lam Research (LRCX) was upgraded today by analysts at Caris & Company and the stock is now at $36.82, up $0.97 (2.71%) on volume of 2,806,515 shares traded. Caris & Company upgraded the stock today to Above Average from Average, pushing shares higher. Over the last 52 weeks the stock has ranged from a low of $14.72 in November to a high of $38.51 last week. Lam Research stock has been showing support around $34.94 and resistance in the $37.64 range. 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 January out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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