Lam Research Corp (LRCX) Stock Price Rose While Pinnacle Associates LTD Trimmed by $6.05 Million Its Stake

July 14, 2018 - By Darrin Black

Lam Research Corporation (NASDAQ:LRCX) LogoInvestors sentiment increased to 1.1 in 2018 Q1. Its up 0.02, from 1.08 in 2017Q4. It increased, 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. Nicholas Inv Limited Partnership has invested 0.29% in Lam Research Corporation (NASDAQ:LRCX). First Merchants holds 0.15% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 4,342 shares. Blair William & Il accumulated 3,499 shares. Swedbank holds 1.15% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 1.09 million shares. One National Association has 0.04% invested in Lam Research Corporation (NASDAQ:LRCX) for 2,845 shares. Norinchukin Natl Bank The stated it has 14,931 shares. Daiwa Secs Group holds 0.07% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 40,800 shares. 227,000 were reported by Eventide Asset Mgmt Limited Liability Company. 12,559 are held by Envestnet Asset. 323,300 are owned by Ser Automobile Association. Moreover, Manufacturers Life The has 0.04% invested in Lam Research Corporation (NASDAQ:LRCX). Artisan Prtnrs Ltd Partnership accumulated 0.29% or 712,138 shares. Delta Asset Management Ltd Llc Tn stated it has 2,600 shares or 0.08% of all its holdings. Usca Ria Ltd Liability invested 0.33% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Quantitative Invest Management Llc holds 126,500 shares.

Since January 23, 2018, it had 0 insider purchases, and 12 sales for $28.53 million activity. 11,200 Lam Research Corporation (NASDAQ:LRCX) shares with value of $2.52 million were sold by Anstice Martin B. 16,866 shares were sold by Gottscho Richard A, worth $3.54M. On Thursday, March 8 O’Dowd Sarah A sold $390,194 worth of Lam Research Corporation (NASDAQ:LRCX) or 1,835 shares. The insider LORD PATRICK J sold 4,656 shares worth $987,770. 25,453 Lam Research Corporation (NASDAQ:LRCX) shares with value of $5.47 million were sold by Varadarajan Seshasayee.

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 $28.18 billion market cap company. The stock increased 0.27% or $0.47 during the last trading session, reaching $171.79. About 1.94 million shares traded. Lam Research Corporation (NASDAQ:LRCX) has risen 31.27% since July 14, 2017 and is uptrending. It has outperformed by 18.70% the S&P500.

Pinnacle Associates Ltd, which manages about $6.31B and $5.10B US Long portfolio, upped its stake in Ishares Tr (FLOT) by 212,209 shares to 224,128 shares, valued at $11.42 million in 2018Q1, according to the filing. It also increased its holding in Ssga Active Etf Tr by 136,019 shares in the quarter, for a total of 257,458 shares, and has risen its stake in Select Sector Spdr Tr (XLY).

Analysts await Lam Research Corporation (NASDAQ:LRCX) to report earnings on July, 25. They expect $4.98 earnings per share, up 60.13 % or $1.87 from last year’s $3.11 per share. LRCX’s profit will be $816.94 million for 8.62 P/E if the $4.98 EPS becomes a reality. After $4.79 actual earnings per share reported by Lam Research Corporation for the previous quarter, Wall Street now forecasts 3.97 % EPS growth.

More news for Lam Research Corporation (NASDAQ:LRCX) were recently published by: Seekingalpha.com, which released: “Cigna Is Undervalued – Cramer’s Lightning Round (7/12/18)” on July 13, 2018. Finance.Yahoo.com‘s article titled: “The 20 Stocks From Goldman Sachs’ Buy List That You Should Actually Consider” and published on July 12, 2018 is yet another important article.

Lam Research Corporation (NASDAQ:LRCX) Ratings Coverage

Among 19 analysts covering Lam Research (NASDAQ:LRCX), 18 have Buy rating, 0 Sell and 1 Hold. Therefore 95% are positive. Lam Research has $305.0 highest and $210 lowest target. $261.37’s average target is 52.15% above currents $171.79 stock price. Lam Research had 29 analyst reports since January 16, 2018 according to SRatingsIntel. On Friday, May 18 the stock rating was maintained by Mizuho with “Buy”. As per Thursday, January 25, the company rating was maintained by Morgan Stanley. Susquehanna maintained the shares of LRCX in report on Thursday, January 25 with “Buy” rating. The firm has “Buy” rating given on Thursday, January 25 by Needham. The company was maintained on Wednesday, April 18 by Credit Suisse. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by Bank of America on Sunday, June 10. The stock has “Buy” rating by UBS on Tuesday, June 26. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by Deutsche Bank on Thursday, January 25. B. Riley & Co maintained the shares of LRCX in report on Wednesday, April 18 with “Buy” rating. The firm has “Overweight” rating given on Wednesday, April 18 by KeyBanc Capital Markets.

Lam Research Corporation (NASDAQ:LRCX) Institutional Positions Chart

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