Cornercap Investment Counsel Inc Lowers stake in Lam Research Corporation (LRCX)

Lam Research Corporation (LRCX) : Cornercap Investment Counsel Inc reduced its stake in Lam Research Corporation by 7.66% during the most recent quarter end. The investment management company now holds a total of 96,415 shares of Lam Research Corporation which is valued at $8,598,290 after selling 7,995 shares in Lam Research Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Lam Research Corporation makes up approximately 1.54% of Cornercap Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. boosted its stake in LRCX in the latest quarter, The investment management firm added 26,633 additional shares and now holds a total of 140,678 shares of Lam Research Corporation which is valued at $12,545,664. Lam Research Corporation makes up approx 0.10% of Cornerstone Capital Management Holdings.’s portfolio.Affinity Investment Advisors boosted its stake in LRCX in the latest quarter, The investment management firm added 24,047 additional shares and now holds a total of 73,834 shares of Lam Research Corporation which is valued at $6,563,104. Lam Research Corporation makes up approx 0.47% of Affinity Investment Advisors’s portfolio.Plante Moran Financial Advisors boosted its stake in LRCX in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 330 shares of Lam Research Corporation which is valued at $29,961. Lam Research Corporation makes up approx 0.02% of Plante Moran Financial Advisors’s portfolio.World Asset Management Inc boosted its stake in LRCX in the latest quarter, The investment management firm added 226 additional shares and now holds a total of 15,779 shares of Lam Research Corporation which is valued at $1,432,575. Lam Research Corporation makes up approx 0.05% of World Asset Management Inc’s portfolio.

Lam Research Corporation opened for trading at $93.86 and hit $95.77 on the upside on Monday, eventually ending the session at $94.34, with a gain of 0.56% or 0.53 points. The heightened volatility saw the trading volume jump to 17,03,060 shares. Company has a market cap of $15,119 M.

On the company’s financial health, Lam Research Corporation reported $1.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.64. The company had revenue of $1546.26 million for the quarter, compared to analysts expectations of $1530.74 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.

Many Wall Street Analysts have commented on Lam Research Corporation. Lam Research Corporation was Downgraded by Nomura to ” Neutral” on Aug 11, 2016. Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 102 from a previous price target of $93 .Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 105 from a previous price target of $95 .

Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company’s products are used primarily in front-end wafer processing which involves the steps that create the active components of a device and their wiring. It also addresses processes for back-end wafer-level packaging (WLP). In addition its products are offered for related markets that rely on semiconductor processes and require production-proven manufacturing capability such as micro-electromechanical systems (MEMS). Its thin film deposition systems form a device’s sub-microscopic layers of conducting (metal) or insulating (dielectric) materials. It is a provider of plasma etch a process step that selectively removes materials from the wafer to create the features and patterns of a device. Its wet spin clean and plasma-based bevel clean products remove particles residues and film from the wafer surface before or after adjacent processes.

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