Hilltop Park Associates Exits Position in Lam Research Corporation (LRCX)

Lam Research Corporation (LRCX) : Hilltop Park Associates has sold out all of its stake in Lam Research Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 8, 2016 with the SEC. The investment management company has sold out 35,000 shares of Lam Research Corporation which is valued at $3,111,150.

Other Hedge Funds, Including , Assetmark Inc boosted its stake in LRCX in the latest quarter, The investment management firm added 6,605 additional shares and now holds a total of 7,598 shares of Lam Research Corporation which is valued at $675,386. Lam Research Corporation makes up approx 0.01% of Assetmark Inc’s portfolio.Wade G W Inc boosted its stake in LRCX in the latest quarter, The investment management firm added 284 additional shares and now holds a total of 3,871 shares of Lam Research Corporation which is valued at $360,971. Lam Research Corporation makes up approx 0.06% of Wade G W Inc’s portfolio. Harel Insurance Investments Financial Services Ltd. added LRCX to its portfolio by purchasing 400 company shares during the most recent quarter which is valued at $36,316.Reinhart Partners reduced its stake in LRCX by selling 72,056 shares or 27.14% in the most recent quarter. The Hedge Fund company now holds 193,460 shares of LRCX which is valued at $17,421,073. Lam Research Corporation makes up approx 1.68% of Reinhart Partners’s portfolio.Cribstone Capital Management reduced its stake in LRCX by selling 6,201 shares or 95.9% in the most recent quarter. The Hedge Fund company now holds 265 shares of LRCX which is valued at $24,171. Lam Research Corporation makes up approx 0.01% of Cribstone Capital Management’s portfolio.

Lam Research Corporation opened for trading at $89.17 and hit $91.37 on the upside on Monday, eventually ending the session at $90.74, with a gain of 1.75% or 1.56 points. The heightened volatility saw the trading volume jump to 21,24,021 shares. Company has a market cap of $14,482 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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