Harbour Capital Advisors Lowers stake in Lam Research Corporation (LRCX)

Lam Research Corporation (LRCX) : Harbour Capital Advisors reduced its stake in Lam Research Corporation by 30.96% during the most recent quarter end. The investment management company now holds a total of 12,100 shares of Lam Research Corporation which is valued at $1,182,533 after selling 5,425 shares in Lam Research Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Lam Research Corporation makes up approximately 0.65% of Harbour Capital Advisors’s portfolio.

Other Hedge Funds, Including , At Bancorp reduced its stake in LRCX by selling 54,819 shares or 77.04% in the most recent quarter. The Hedge Fund company now holds 16,336 shares of LRCX which is valued at $1,596,517. Lam Research Corporation makes up approx 0.22% of At Bancorp’s portfolio.Capstone Asset Management Co boosted its stake in LRCX in the latest quarter, The investment management firm added 724 additional shares and now holds a total of 21,124 shares of Lam Research Corporation which is valued at $2,103,739. Lam Research Corporation makes up approx 0.06% of Capstone Asset Management Co’s portfolio.Grassi Investment Management reduced its stake in LRCX by selling 225 shares or 2.73% in the most recent quarter. The Hedge Fund company now holds 8,025 shares of LRCX which is valued at $799,210. Lam Research Corporation makes up approx 0.15% of Grassi Investment Management’s portfolio.Trinity Street Asset Management Llp boosted its stake in LRCX in the latest quarter, The investment management firm added 5,790 additional shares and now holds a total of 451,640 shares of Lam Research Corporation which is valued at $46,135,026. Lam Research Corporation makes up approx 7.99% of Trinity Street Asset Management Llp’s portfolio.

Lam Research Corporation closed down -2.56 points or -2.51% at $99.59 with 49,12,581 shares getting traded on Tuesday. Post opening the session at $101.61, the shares hit an intraday low of $98.64 and an intraday high of $101.64 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 Pacific Crest to ” Sector Weight” on Oct 12, 2016. 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 .

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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