NEW YORK ( TheStreet) -- Lam Research Corporation (Nasdaq: LRCX) is trading at unusually high volume Thursday with 10.9 million shares changing hands. It is currently at four times its average daily volume and trading down $1.49 (-3.8%) at $37.99 as of 11:45 a.m. ET.

Lam Research has a market cap of $4.8 billion and is part of the technology sector and electronics industry. Shares are down 22.4% year to date as of the close of trading on Wednesday.

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipments used in the fabrication of integrated circuits. The company offers etch products that remove portions of various films from the wafer in the creation of semiconductor devices. The company has a P/E ratio of 8.3, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Lam Research as a hold. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Lam Research Ratings Report.

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