Check Out What Whales Are Doing With LRCX
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Lam Research (NASDAQ:LRCX), with 70% of recent trades being bearish. The total amount for puts is $418,445 and for calls is $115,610. Whales have been targeting a price range from $560.0 to $650.0 for Lam Research over the last 3 months. The current price of LRCX is up 1.16% at $613.01. Wolfe Research has downgraded its action to Outperform with a price target of $825.
September 27, 2023 | 2:32 pm
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NEGATIVE IMPACT
Bearish stance taken on Lam Research with 70% of recent trades being bearish. Whales target price range $560-$650. Current price up 1.16% at $613.01. Wolfe Research downgrades to Outperform with $825 target.
The bearish stance taken by a significant investor, along with the high percentage of bearish trades, indicates a potential downward pressure on the stock. However, the downgrade by Wolfe Research to Outperform with a higher price target suggests a positive long-term outlook. The current price increase also indicates some positive sentiment in the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100