As Lam Research Corp (LRCX) Valuation Rose, Holder Pinnacle Associates LTD Has Decreased by $6.05 Million Its Stake

July 27, 2018 - By Palma Niemeyer

Lam Research Corporation (NASDAQ:LRCX) LogoInvestors sentiment increased to 1.1 in 2018 Q1. Its up 0.02, from 1.08 in 2017Q4. It improved, as 62 investors sold LRCX shares while 259 reduced holdings. 131 funds opened positions while 223 raised stakes. 138.23 million shares or 1.88% less from 140.89 million shares in 2017Q4 were reported. South Texas Money Ltd reported 1,135 shares. Citigroup invested 0.07% in Lam Research Corporation (NASDAQ:LRCX). Jpmorgan Chase And holds 0.1% or 2.22 million shares. Lsv Asset Management accumulated 0.79% or 2.45M shares. Main Street Rech has invested 2.73% in Lam Research Corporation (NASDAQ:LRCX). Ontario Teachers Pension Plan Board holds 0.01% in Lam Research Corporation (NASDAQ:LRCX) or 2,529 shares. Gemmer Asset Mngmt invested 0.01% in Lam Research Corporation (NASDAQ:LRCX). 6,276 are held by Ameritas Inv Prns Inc. Exxonmobil Inv Incorporated Tx accumulated 24,946 shares. Retirement Of Alabama holds 77,844 shares or 0.08% of its portfolio. Gratry And Limited Liability Company invested in 1,812 shares or 0.51% of the stock. Glenmede Na accumulated 763,059 shares. State Of Alaska Department Of Revenue has 0.09% invested in Lam Research Corporation (NASDAQ:LRCX). Highland Cap Limited Com reported 0.03% stake. Bailard holds 0.31% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 23,540 shares.

Since March 7, 2018, it had 0 insider purchases, and 11 sales for $23.06 million activity. Anstice Martin B sold $5.12M worth of stock or 25,122 shares. LORD PATRICK J also sold $1.20M worth of Lam Research Corporation (NASDAQ:LRCX) on Friday, April 20. Another trade for 6,465 shares valued at $1.39 million was sold by ARCHER TIMOTHY. Gottscho Richard A sold $3.54M worth of stock or 16,866 shares.

Pinnacle Associates Ltd decreased its stake in Lam Research Corp (LRCX) by 4.2% based on its latest 2018Q1 regulatory filing with the SEC. Pinnacle Associates Ltd sold 29,826 shares as the company’s stock rose 1.81% while stock markets declined. The institutional investor held 681,033 shares of the industrial machinery and components company at the end of 2018Q1, valued at $138.36M, down from 710,859 at the end of the previous reported quarter. Pinnacle Associates Ltd who had been investing in Lam Research Corp for a number of months, seems to be less bullish one the $29.08 billion market cap company. The stock increased 2.58% or $4.46 during the last trading session, reaching $177.26. About 2.93 million shares traded. Lam Research Corporation (NASDAQ:LRCX) has risen 31.27% since July 27, 2017 and is uptrending. It has outperformed by 18.70% the S&P500.

Pinnacle Associates Ltd, which manages about $6.31 billion and $5.10B US Long portfolio, upped its stake in Ishares Tr (FLOT) by 212,209 shares to 224,128 shares, valued at $11.42M in 2018Q1, according to the filing. It also increased its holding in Powershares Qqq Trust (QQQ) by 44,202 shares in the quarter, for a total of 65,334 shares, and has risen its stake in Berkshire Hathaway Inc Del (BRKB).

More notable recent Lam Research Corporation (NASDAQ:LRCX) news were published by: Fool.com which released: “Better Buy: Lam Research vs. Applied Materials” on July 17, 2018, also Nasdaq.com with their article: “Lam Research Corporation Reports Financial Results for the Quarter Ended June 24, 2018” published on July 26, 2018, Seekingalpha.com published: “Lam Research (LRCX) Q4 2018 Results – Earnings Call Transcript” on July 27, 2018. More interesting news about Lam Research Corporation (NASDAQ:LRCX) were released by: Seekingalpha.com and their article: “Evercore, Cowen name semi picks ahead of earnings” published on July 17, 2018 as well as Seekingalpha.com‘s news article titled: “Big Week Of Earnings For Chip Sector: Which Companies Are Set Up For The Biggest Moves” with publication date: July 23, 2018.

Lam Research Corporation (NASDAQ:LRCX) Ratings Coverage

Among 14 analysts covering Lam Research (NASDAQ:LRCX), 13 have Buy rating, 0 Sell and 1 Hold. Therefore 93% are positive. Lam Research has $305.0 highest and $210 lowest target. $268.36’s average target is 51.39% above currents $177.26 stock price. Lam Research had 20 analyst reports since March 7, 2018 according to SRatingsIntel. B. Riley & Co maintained the stock with “Buy” rating in Wednesday, April 18 report. Mizuho maintained the shares of LRCX in report on Friday, May 18 with “Buy” rating. The stock has “Buy” rating by Susquehanna on Tuesday, March 6. The rating was maintained by Citigroup on Friday, July 13 with “Buy”. RBC Capital Markets downgraded it to “Sector Perform” rating and $210 target in Wednesday, June 13 report. The company was maintained on Wednesday, April 18 by Stifel Nicolaus. The firm has “Buy” rating given on Sunday, June 10 by Bank of America. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Wednesday, March 7. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Overweight” rating by KeyBanc Capital Markets on Wednesday, April 18. The rating was upgraded by Citigroup on Monday, May 14 to “Buy”.

Lam Research Corporation (NASDAQ:LRCX) Institutional Positions Chart

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