Maverick Capital Ltd Lowers stake in Lam Research Corporation (LRCX)

Lam Research Corporation (LRCX) : Maverick Capital Ltd reduced its stake in Lam Research Corporation by 16.84% during the most recent quarter end. The investment management company now holds a total of 4,545,258 shares of Lam Research Corporation which is valued at $447,753,366 after selling 920,291 shares in Lam Research Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Lam Research Corporation makes up approximately 5.35% of Maverick Capital Ltd’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp reduced its stake in LRCX by selling 2,000 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 67,800 shares of LRCX which is valued at $6,678,978. Lam Research Corporation makes up approx 0.04% of Royce Associates Lp’s portfolio. Motco added LRCX to its portfolio by purchasing 92 company shares during the most recent quarter which is valued at $9,063.Winch Advisory Services reduced its stake in LRCX by selling 8 shares or 80.0% in the most recent quarter. The Hedge Fund company now holds 2 shares of LRCX which is valued at $192.Conning boosted its stake in LRCX in the latest quarter, The investment management firm added 70 additional shares and now holds a total of 3,869 shares of Lam Research Corporation which is valued at $379,472. Lam Research Corporation makes up approx 0.02% of Conning’s portfolio.

Lam Research Corporation opened for trading at $103.44 and hit $107.25 on the upside on Monday, eventually ending the session at $104.71, with a gain of 0.88% or 0.91 points. The heightened volatility saw the trading volume jump to 37,09,504 shares. Company has a market cap of $17,050 M.

On the company’s financial health, Lam Research Corporation reported $1.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 19, 2016. Analyst had a consensus of $1.78. The company had revenue of $1632.42 million for the quarter, compared to analysts expectations of $1633.59 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS.

Many Wall Street Analysts have commented on Lam Research Corporation. Company shares were Reiterated by Stifel on Nov 21, 2016 to “Buy”, Firm has raised the Price Target to $ 116 from a previous price target of $110 .Lam Research Corporation was Resumed by Goldman to “Neutral” on Oct 25, 2016. Company shares were Reiterated by Stifel on Oct 20, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $102 .

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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