The Best Semiconductor Stock to Own in October

Plus 24 of October's other outperforming stocks

Deputy Editor
Oct 2, 2020 at 9:55 AM
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With the end of the year on the Horizon, and a September that saw all the major indexes log monthly losses for the first time since March, it's time to look ahead at the best stocks to own in October, historically. In a list compiled by Schaeffer's Senior Quantitative Analyst Rocky White, of the best 25 S&P 500 (SPX) stocks to own in October over the past 10 years, semiconductor processing equipment specialist Lam Research Corporation (NASDAQ:LRCX) stands out as one of the top performers.

Best of October

More specifically, looking back over the last decade, Lam Research stock boasts an average return of 8.7% in  October, with nine out of 10 returns positive. One thing that makes the equity even more intriguing is the fact that it's the only stock from the  "technology equipment and hardware" sector to appear on the list. 

At last check, LRCX was trading at $330.59, so a move higher of similar magnitude would nudge the stock closer toward its August 4 all-time high close of $384.96. Longer term, the equity boasts a year-over-year gain of 43.8%. And despite the shares' 30-day deficit of 8.3%, their 200-day moving average caught the pullback earlier in September.

The good news for options traders is that near-term Lam Research stock options can be had for a bargain at the moment. The security's Schaeffer's Volatility Index (SVI) stands up at 42% -- in the 21st percentile of its annual range. This indicates that now is an attractive time to jump aboard the equity with options.


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