Btc Capital Management buys $4,133,850 stake in Lam Research Corporation (LRCX)

Lam Research Corporation (LRCX) : Btc Capital Management scooped up 22,078 additional shares in Lam Research Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 45,532 shares of Lam Research Corporation which is valued at $4,133,850.Lam Research Corporation makes up approximately 0.87% of Btc Capital Management’s portfolio.

Other Hedge Funds, Including , Sumitomo Mitsui Asset Management Company Ltd boosted its stake in LRCX in the latest quarter, The investment management firm added 3,468 additional shares and now holds a total of 32,028 shares of Lam Research Corporation which is valued at $2,875,154. Lam Research Corporation makes up approx 0.08% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Herndon Capital Management reduced its stake in LRCX by selling 3,540 shares or 40.32% in the most recent quarter. The Hedge Fund company now holds 5,239 shares of LRCX which is valued at $470,305. Lam Research Corporation makes up approx 0.02% of Herndon Capital Management’s portfolio. Fox Run Management L.l.c. added LRCX to its portfolio by purchasing 7,600 company shares during the most recent quarter which is valued at $693,196. Lam Research Corporation makes up approx 0.32% of Fox Run Management L.l.c.’s portfolio.

Lam Research Corporation opened for trading at $90.83 and hit $92 on the upside on Thursday, eventually ending the session at $91.93, with a gain of 1.26% or 1.14 points. The heightened volatility saw the trading volume jump to 21,35,884 shares. Company has a market cap of $14,672 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. 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 .Company shares were Reiterated by Cowen on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .

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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