1St Source Bank Position in Patrick Inds (PATK) Has Raised by $535,647 as Market Valuation Declined; Lam Research (LRCX) Holder Deroy & Devereaux Private Investment Counsel Has Trimmed Holding by $1.44 Million as Shares Rose

April 23, 2018 - By Kurt Siggers

Lam Research Corporation (NASDAQ:LRCX) Logo

Deroy & Devereaux Private Investment Counsel Inc decreased its stake in Lam Research Corp (LRCX) by 6.63% based on its latest 2017Q4 regulatory filing with the SEC. Deroy & Devereaux Private Investment Counsel Inc sold 7,850 shares as the company’s stock rose 8.53% while stock markets declined. The institutional investor held 110,591 shares of the industrial machinery and components company at the end of 2017Q4, valued at $20.36M, down from 118,441 at the end of the previous reported quarter. Deroy & Devereaux Private Investment Counsel Inc who had been investing in Lam Research Corp for a number of months, seems to be less bullish one the $31.56B market cap company. The stock increased 0.92% or $1.77 during the last trading session, reaching $193.68. About 1.93 million shares traded. Lam Research Corporation (NASDAQ:LRCX) has risen 58.54% since April 23, 2017 and is uptrending. It has outperformed by 46.99% the S&P500.

1St Source Bank increased its stake in Patrick Inds Inc (PATK) by 33.94% based on its latest 2017Q4 regulatory filing with the SEC. 1St Source Bank bought 7,763 shares as the company’s stock declined 10.78% with the market. The institutional investor held 30,639 shares of the basic industries company at the end of 2017Q4, valued at $2.13M, up from 22,876 at the end of the previous reported quarter. 1St Source Bank who had been investing in Patrick Inds Inc for a number of months, seems to be bullish on the $1.37B market cap company. The stock increased 1.03% or $0.55 during the last trading session, reaching $53.95. About 85,143 shares traded. Patrick Industries, Inc. (NASDAQ:PATK) has risen 34.42% since April 23, 2017 and is uptrending. It has outperformed by 22.87% the S&P500.

Among 6 analysts covering Patrick Industries (NASDAQ:PATK), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Patrick Industries had 12 analyst reports since March 31, 2016 according to SRatingsIntel. The firm has “Hold” rating by Wells Fargo given on Thursday, December 14. The stock of Patrick Industries, Inc. (NASDAQ:PATK) has “Buy” rating given on Thursday, June 16 by Sidoti. The stock of Patrick Industries, Inc. (NASDAQ:PATK) earned “Neutral” rating by CL King on Thursday, March 31. The company was maintained on Tuesday, April 10 by Wells Fargo. The firm earned “Buy” rating on Tuesday, October 24 by Bank of America. The firm has “Buy” rating by CL King given on Wednesday, August 17. As per Wednesday, August 30, the company rating was maintained by Robert W. Baird. Robert W. Baird maintained Patrick Industries, Inc. (NASDAQ:PATK) on Friday, December 22 with “Buy” rating. The rating was maintained by Robert W. Baird on Thursday, February 15 with “Buy”. Bank of America maintained the shares of PATK in report on Wednesday, January 24 with “Buy” rating.

Since October 26, 2017, it had 2 insider purchases, and 6 selling transactions for $3.15 million activity. 5,550 shares were bought by WELCH M SCOTT, worth $336,338. Shares for $898,701 were sold by Cleveland Todd M. On Friday, March 16 the insider Boone Joshua A sold $54,644. On Thursday, October 26 the insider GENDELL JEFFREY L ET AL sold $2.24 million. 1,000 shares valued at $65,800 were sold by Forbes John A on Thursday, December 14. $134,648 worth of stock was sold by Blosser Courtney on Monday, March 12.

Investors sentiment increased to 7.26 in 2017 Q4. Its up 6.23, from 1.03 in 2017Q3. It is positive, as 12 investors sold PATK shares while 11 reduced holdings. 37 funds opened positions while 130 raised stakes. 44.28 million shares or 197.84% more from 14.87 million shares in 2017Q3 were reported. Swiss Bancshares has 39,975 shares. Hennessy Advsr Inc accumulated 70,200 shares. M&T Natl Bank reported 0% in Patrick Industries, Inc. (NASDAQ:PATK). Morgan Stanley has invested 0% in Patrick Industries, Inc. (NASDAQ:PATK). Raymond James And Assoc has invested 0% in Patrick Industries, Inc. (NASDAQ:PATK). James Investment Incorporated accumulated 0.15% or 61,981 shares. New Amsterdam Prtnrs Limited Liability Company New York has invested 1.98% in Patrick Industries, Inc. (NASDAQ:PATK). Prudential Fincl Inc holds 0.02% or 212,814 shares. State Teachers Retirement has 16,148 shares for 0% of their portfolio. Tygh Cap Mgmt holds 0.9% in Patrick Industries, Inc. (NASDAQ:PATK) or 68,822 shares. Moreover, Wells Fargo & Mn has 0% invested in Patrick Industries, Inc. (NASDAQ:PATK) for 141,535 shares. Grandeur Peak Glob Advisors Ltd Liability Corporation has invested 0.1% in Patrick Industries, Inc. (NASDAQ:PATK). Hood River Management Limited Liability accumulated 240,213 shares. Ubs Asset Americas invested in 0% or 11,888 shares. The New York-based New York State Common Retirement Fund has invested 0% in Patrick Industries, Inc. (NASDAQ:PATK).

1St Source Bank, which manages about $1.22 billion US Long portfolio, decreased its stake in Wells Fargo & Co (NYSE:WFC) by 6,440 shares to 81,177 shares, valued at $4.93 million in 2017Q4, according to the filing. It also reduced its holding in Ishares Russell 1000 Value Etf (IWD) by 19,622 shares in the quarter, leaving it with 626,234 shares, and cut its stake in Spdr S&P 500 Etf Trust (SPY).

Deroy & Devereaux Private Investment Counsel Inc, which manages about $945.37M and $948.05 million US Long portfolio, upped its stake in Western Digital Corp (NASDAQ:WDC) by 49,874 shares to 172,281 shares, valued at $13.70 million in 2017Q4, according to the filing. It also increased its holding in Donnelley Fin’l Solutions by 19,300 shares in the quarter, for a total of 98,650 shares, and has risen its stake in Marathon Oil Corp (NYSE:MRO).

Among 27 analysts covering Lam Research Corporation (NASDAQ:LRCX), 25 have Buy rating, 0 Sell and 2 Hold. Therefore 93% are positive. Lam Research Corporation had 92 analyst reports since September 17, 2015 according to SRatingsIntel. The rating was initiated by Morgan Stanley with “Overweight” on Tuesday, December 15. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Buy” rating given on Friday, July 7 by Morgan Stanley. Bank of America maintained Lam Research Corporation (NASDAQ:LRCX) rating on Wednesday, October 18. Bank of America has “Buy” rating and $270 target. Needham maintained the shares of LRCX in report on Friday, October 9 with “Buy” rating. The rating was upgraded by Credit Agricole to “Buy” on Friday, September 25. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by B. Riley & Co on Thursday, July 27. The firm has “Buy” rating by Needham given on Friday, June 16. Citigroup maintained Lam Research Corporation (NASDAQ:LRCX) rating on Friday, August 12. Citigroup has “Buy” rating and $102 target. The stock has “Overweight” rating by KeyBanc Capital Markets on Wednesday, March 7. RBC Capital Markets maintained the stock with “Buy” rating in Wednesday, November 15 report.

Investors sentiment increased to 1.08 in 2017 Q4. Its up 0.06, from 1.02 in 2017Q3. It improved, as 40 investors sold LRCX shares while 262 reduced holdings. 112 funds opened positions while 215 raised stakes. 140.89 million shares or 3.74% less from 146.35 million shares in 2017Q3 were reported. Coastline owns 1,440 shares or 0.04% of their US portfolio. San Francisco Sentry Invest Gp (Ca) holds 2,626 shares or 0.14% of its portfolio. Pggm accumulated 154,800 shares. 177,292 are held by Artemis Investment Mgmt Llp. L S holds 33,135 shares. Lord Abbett & Company Ltd Liability Company reported 0.11% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Stephens Mngmt Group Ltd Liability Com invested in 15,992 shares or 0.07% of the stock. Sprott reported 37,500 shares. Leavell Investment Management Inc holds 0.2% or 9,350 shares in its portfolio. Field & Main Bancorp owns 275 shares or 0.05% of their US portfolio. Whittier Trust Communication Of Nevada invested in 0.14% or 8,656 shares. The California-based Covington Capital Mgmt has invested 0.02% in Lam Research Corporation (NASDAQ:LRCX). Bnp Paribas Arbitrage stated it has 0.03% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 122,507 shares. 16,830 were accumulated by Gam Hldg Ag.

Patrick Industries, Inc. (NASDAQ:PATK) Institutional Positions Chart

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