13F Action: Lateef Investment Management LP Stake in Lam Research Corp (LRCX) Has Boosted as Share Price Rose

13F Action: Lateef Investment Management LP Stake in Lam Research Corp (LRCX) Has Boosted as Share Price Rose

Lateef Investment Management Lp increased its stake in Lam Research Corp (LRCX) by 37.32% based on its latest 2016Q3 regulatory filing with the SEC. Lateef Investment Management Lp bought 46,732 shares as the company’s stock rose 14.14% with the market. The institutional investor held 171,953 shares of the industrial machinery and components company at the end of 2016Q3, valued at $16.29M, up from 125,221 at the end of the previous reported quarter. Lateef Investment Management Lp who had been investing in Lam Research Corp for a number of months, seems to be bullish on the $17.61B market cap company. The stock is up 0.06% or $0.07 after the positive news, hitting $108.54 per share. About 447,861 shares traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 30.73% since June 7, 2016 and is uptrending. It has outperformed by 23.31% the S&P500.

Lateef Investment Management Lp, which manages about $5.98 billion and $2.45 billion US Long portfolio, decreased its stake in Allergan Plc by 115,102 shares to 473,013 shares, valued at $108.94M in 2016Q3, according to the filing. It also reduced its holding in Danaher Corp (NYSE:DHR) by 170,761 shares in the quarter, leaving it with 832,804 shares, and cut its stake in Nielsen Holdings Plc.

Lateef Investment Management Lp is a California-based institutional investor with more than $5.98 billion AUM in March, 2014. Taken from Lateef Investment Management latest Adv, the fund reported to have 28 full and part-time employees. Among which 5 performing investment advisory and research functions. The institutional investor had more than 2200 clients.

Insitutional Activity: The institutional sentiment decreased to 1.18 in Q3 2016. Its down 0.03, from 1.21 in 2016Q2. The ratio worsened, as 38 funds sold all LRCX shares owned while 194 reduced positions. 74 funds bought stakes while 199 increased positions. They now own 172.22 million shares or 5.00% less from 181.29 million shares in 2016Q2. Alliancebernstein LP has invested 0.02% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Advisory Svcs Ntwk Ltd Llc holds 172 shares or 0% of its portfolio. Etrade Mgmt Lc owns 12,248 shares or 0.05% of their US portfolio. Cadence Mngmt Ltd Limited Liability Company, a Massachusetts-based fund reported 35,455 shares. Calamos Wealth Management Ltd Liability Company has 0.41% invested in the company for 25,494 shares. Northern Trust owns 2.09M shares or 0.06% of their US portfolio. Brown Advisory Inc has 5,550 shares for 0% of their US portfolio. Exane Derivatives has 220 shares for 0% of their US portfolio. Sumitomo Mitsui Holdg last reported 468,164 shares in the company. Dimensional Fund Advisors Lp, a Texas-based fund reported 1.80M shares. Eventide Asset Limited Liability Corporation accumulated 492,100 shares or 2.85% of the stock. Fred Alger Mngmt owns 25,026 shares or 0.01% of their US portfolio. Caldwell & Orkin Inc owns 4,800 shares or 0.31% of their US portfolio. Systematic Mgmt Limited Partnership last reported 0.87% of its portfolio in the stock. Greenwood Capital Ltd Liability, a South Carolina-based fund reported 17,508 shares.

Insider Transactions: Since October 6, 2016, the stock had 0 insider buys, and 7 selling transactions for $9.44 million net activity. On Friday, December 9 EL MANSY YOUSSEF A sold $248,604 worth of the stock or 2,333 shares. $1.06 million worth of Lam Research Corporation (NASDAQ:LRCX) was sold by Bettinger Douglas R on Wednesday, November 23. Shares for $1.07 million were sold by ARCHER TIMOTHY on Tuesday, January 3. 47,540 shares with value of $4.70 million were sold by Gottscho Richard A on Thursday, October 6. 16,000 Lam Research Corporation (NASDAQ:LRCX) shares with value of $1.61 million were sold by Anstice Martin B. Shares for $214,580 were sold by Heckart Christine on Tuesday, November 29.

Another recent and important Lam Research Corporation (NASDAQ:LRCX) news was published by Finance.Yahoo.com which published an article titled: “Lam Research Stock Up 2.4% on Rating Upgrade by Goldman” on December 20, 2016.

According to Zacks Investment Research, “Lam Research Corporation designs, manufactures, markets and services semiconductor processing equipment used in the fabrication of integrated circuits. Lam is recognized as a leading supplier of front-end wafer processing equipment to the worldwide semiconductor industry. The Company’s products are used selectively to etch away portions of various films to create an integrated circuit.”

Lam Research Corporation (NASDAQ:LRCX) Ratings Coverage

Out of 15 analysts covering Lam Research Corporation (NASDAQ:LRCX), 11 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 73% are positive. Lam Research Corporation has been the topic of 32 analyst reports since September 17, 2015 according to StockzIntelligence Inc. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by DA Davidson on Thursday, October 6. The firm has “Buy” rating by Needham given on Thursday, October 20. The firm has “Buy” rating by Citigroup given on Thursday, October 6. B. Riley & Co maintained Lam Research Corporation (NASDAQ:LRCX) rating on Thursday, October 22. B. Riley & Co has “Buy” rating and $98 price target. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Outperform” rating by Cowen & Co on Wednesday, October 21. RBC Capital Markets downgraded the stock to “Underperform” rating in Monday, October 5 report. Susquehanna maintained the stock with “Neutral” rating in Monday, September 21 report. The rating was maintained by Needham on Friday, October 9 with “Buy”. As per Monday, December 19, the company rating was upgraded by Goldman Sachs. B. Riley & Co maintained Lam Research Corporation (NASDAQ:LRCX) on Thursday, October 20 with “Buy” rating.

LRCX Company Profile

Lam Research Corporation, incorporated on October 8, 1989, is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Firm designs, makes, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). The Firm operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment. The Company’s products are designed to enable its clients build a range of devices that are used in a range of electronic products, including cell phones, tablets, computers, storage devices and networking equipment. The Company’s customer base includes semiconductor memory, foundry and integrated device manufacturers (IDMs) that make products, such as dynamic random-access memory (DRAM), negative-AND (NAND) memory and logic devices. The Firm offers a portfolio of products that are used in several areas of the semiconductor manufacturing process flow, including thin film deposition, plasma etch and single-wafer clean. The Firm also offers a range of services, including customer service, spares, upgrades, and refurbishment of its deposition, etch and clean products. The Firm also provides refurbished legacy products.

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