Lam Research Stock Slides 17% Over 8 Straight Down Days

Shares of Lam Research (LRCX) have closed lower in each of the last 8 sessions, a cumulative decline of 17.4%. That erased about $75.8 billion from the company's market value, which now stands at about $359.0 billion. The stock closed at $286.92 on Wednesday, October 14, 33.7% below its 52-week high of $432.87 and 108.4% above its low of $137.67.

The Streak Next To The S&P 500

Returns for LRCX and the S&P 500 over the streak and the periods around it, all ending Wednesday, October 14 and including dividends:

Is This Move About Lam Research Or The Market?

Over the same 8 trading days, the S&P 500 returned 0.0% including dividends, so the slide is mostly Lam Research's own story rather than the market's. 1 other S&P 500 stock is currently on losing streaks of 8 days or longer. Over the past three months the stock is down 10.5%, a window that includes the streak; over the other 55 sessions of that window it was up 8.4%.

What The Numbers Say About The Slide

On the fundamentals, revenue grew 26.0% over the last twelve months, against a median of 17.9% for S&P 500 Information Technology stocks; its operating margin is 35.3%, versus a median of 21.6%; and the stock trades at 49.4 times trailing earnings against a median of 35.7. The read is mixed.

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