It Seems Lam Research Corporation Will Go Down. Had Bearish Options Activity

 It Seems Lam Research Corporation Will Go Down. Had Bearish Options Activity

In today’s session Lam Research Corporation (LRCX) recorded an unusually high (439) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious LRCX decrease. With 439 contracts traded and 354 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: LRCX161118P00097500 closed last at: $3.3 or 13.2% down. About 533,772 shares traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 27.09% since March 15, 2016 and is uptrending. It has outperformed by 21.60% the S&P500.

Analysts await Lam Research Corporation (NASDAQ:LRCX) to report earnings on October, 19. They expect $1.80 earnings per share, down 1.10% or $0.02 from last year’s $1.82 per share. LRCX’s profit will be $289.84M for 13.78 P/E if the $1.80 EPS becomes a reality. After $1.80 actual earnings per share reported by Lam Research Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Lam Research Corporation (NASDAQ:LRCX) Ratings Coverage

Out of 13 analysts covering Lam Research Corporation (NASDAQ:LRCX), 9 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 69% are positive. $120 is the highest target while $52 is the lowest. The $89.36 average target is -9.90% below today’s ($99.18) stock price. Lam Research Corporation has been the topic of 26 analyst reports since September 17, 2015 according to StockzIntelligence Inc. CLSA upgraded Lam Research Corporation (NASDAQ:LRCX) on Friday, September 25 to “Buy” rating. B. Riley & Co maintained Lam Research Corporation (NASDAQ:LRCX) on Thursday, April 21 with “Buy” rating. The firm earned “Neutral” rating on Monday, September 21 by Susquehanna. The company was initiated on Tuesday, December 15 by Morgan Stanley. The stock has “Buy” rating given by Citigroup on Friday, August 12. The rating was maintained by Cowen & Co with “Outperform” on Thursday, December 10. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Outperform” rating given on Monday, May 16 by Cowen & Co. The rating was downgraded by Nomura on Thursday, August 11 to “Neutral”. The firm has “Sector Weight” rating given on Wednesday, October 12 by Pacific Crest. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Buy” rating given on Thursday, October 6 by DA Davidson.

According to Zacks Investment Research, “Lam Research Corporation designs, manufactures, markets and services semiconductor processing equipment used in the fabrication of integrated circuits. Lam is recognized as a leading supplier of front-end wafer processing equipment to the worldwide semiconductor industry. The Company’s products are used selectively to etch away portions of various films to create an integrated circuit.”

Insitutional Activity: The institutional sentiment decreased to 1.21 in Q2 2016. Its down 0.06, from 1.27 in 2016Q1. The ratio worsened, as 43 funds sold all Lam Research Corporation shares owned while 181 reduced positions. 67 funds bought stakes while 203 increased positions. They now own 181.29 million shares or 1.03% less from 183.18 million shares in 2016Q1.
Denver Limited Liability holds 31,490 shares or 0.12% of its portfolio. Nomura Asset Management Company Ltd holds 20,962 shares or 0.03% of its portfolio. Blackrock Grp Ltd reported 1.68 million shares or 0.07% of all its holdings. Harber Asset Mgmt Lc has invested 1.51% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Moreover, Bokf Na has 0.35% invested in Lam Research Corporation (NASDAQ:LRCX) for 117,283 shares. Delta Asset Mngmt Llc Tn accumulated 2,600 shares or 0.04% of the stock. Oregon Public Employees Retirement Fund has 0.05% invested in the company for 25,432 shares. Pinnacle Fincl Prns reported 4,176 shares or 0.09% of all its holdings. Moreover, Delta Lloyd Nv has 0.05% invested in Lam Research Corporation (NASDAQ:LRCX) for 17,213 shares. Greenwood Associate Lc holds 0.12% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 4,765 shares. Private Trust Company Na accumulated 0.07% or 3,353 shares. Cornercap Invest Counsel has 1.54% invested in the company for 96,415 shares. Midas Mgmt Corp has invested 0.67% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Blackrock Investment Mngmt Ltd Limited Liability Company has invested 0.12% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Andra Ap accumulated 33,300 shares or 0.07% of the stock.

Insider Transactions: Since October 6, 2016, the stock had 0 buys, and 1 insider sale for $4.70 million net activity. The insider Gottscho Richard A sold 47,540 shares worth $4.70M.

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company has a market cap of $15.97 billion. The Firm designs, makes, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits . It has a 19.01 P/E ratio. It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

LRCX Company Profile

Lam Research Corporation, incorporated on October 8, 1989, is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Firm designs, makes, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). The Firm operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment. The Company’s products are designed to enable its clients build a range of devices that are used in a range of electronic products, including cell phones, tablets, computers, storage devices and networking equipment. The Company’s customer base includes semiconductor memory, foundry and integrated device manufacturers (IDMs) that make products, such as dynamic random-access memory (DRAM), negative-AND (NAND) memory and logic devices. The Firm offers a portfolio of products that are used in several areas of the semiconductor manufacturing process flow, including thin film deposition, plasma etch and single-wafer clean. The Firm also offers a range of services, including customer service, spares, upgrades, and refurbishment of its deposition, etch and clean products. The Firm also provides refurbished legacy products.

More recent Lam Research Corporation (NASDAQ:LRCX) news were published by: Seekingalpha.com which released: “Lam Research: Semiconductor Supplier For Sale” on October 14, 2016. Also Investorplace.com published the news titled: “Why Salesforce.com, Inc. (CRM), Metlife Inc (MET) and Lam Research Corporation …” on October 06, 2016. Zacks.com‘s news article titled: “Why Earnings Season Could Be Great for Lam Research (LRCX)” with publication date: October 17, 2016 was also an interesting one.

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