Lam Research (LRCX) NewsBite - Analyst's Comments Pull Down LRCX
Posted: Tuesday, November 03, 2009 11:38 AM EDT
By: Market Intelligence Center Staff
Lam Research (NasdaqNM: LRCX) opened at $33.38. So far today, the stock has hit a low of $32.74 and a high of $33.61. LRCX is now trading at $33.09, down $0.94 (-2.76%). Over the last 52 weeks the stock has ranged from a low of $14.72 to a high of $38.51. Shares of LRCX are declining after an analyst at Morgan Stanley downgraded a number of other semiconductor stocks, including Intel (INTC), Micron (MU), and Xilinx (XLNX), adding in a note that fundamentals across the industry are peaking and that inventories are slowly rising. This could be a bad sign for LRCX. 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 March out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Lam Research (LRCX) Stock ReportSee what our analysts have uncovered about Lam Research (LRCX).
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