Citadel Advisors Increases Stake In LSI Corporation To 5.4% – ValueWalk Premium

Citadel Advisors Increases Stake In LSI Corporation To 5.4%

Kenneth Griffin’s Citadel Advisors LLC has increased its stake in LSI Corporation (NYSE:LSI), from 4.48% reported in June 29th, to 5.4%, according to the latest SEC form 13G filing. The Delaware-based investment advisory firm now owns 30,053,103 shares of common stock in the semiconductor company. As of June 29th, Citadel Advisors held 24,953,495, shares valued at $158,953,763.

Citadel Advisors Increases Stake In LSI Corporation To 5.4%

It is the second largest institutional holder in the California-based technology company, behind the fund of funds manager, Vanguard Group Inc., which manages the Vanguard 500 Index Inv (MUTF:VFINX) funds, which holds just over 7% in LSI Corporation (NYSE:LSI).

Citadel Advisors now holds an equivalent of 30,053,103 in shared voting and dispositive power, via the group’s investment arms, that include, Citadel Advisors LLC, Citadel Holdings II LP, and Citadel Investment Group II, L.L.C., among others. Notwithstanding, no single investment arm, including Kenneth Griffin, holds sole voting and dispositive power, over the company’s stake in LSI Corporation (NYSE:LSI).

Citadel Advisors has also added stakes in Kodiak Oil & Gas Corp. (NYSE:KOG), ON Semiconductor Corp. (NASDAQ:ONNN), Marriott Vacations Worldwide Corporation (NYSE:VAC), among others, as covered in one of our earlier articles, following SEC Form 13F filing.

LSI Corporation (NYSE:LSI)has 557.56 million shares of common stock outstanding, with 555.67 of floated at the NYSE. Its market cap stands at $3.66 billion while the enterprise value is $3.10 billion as of October 11, 2012.

The company’s profit margin for the trailing twelve months stands at 6.87%, while the operating margin is pegged at 5.97%. LSI Corporation (NYSE:LSI) reported cash reserves of $601.01 million for the most recent quarter, or $1.08 cash per share.

It’s trailing twelve-month price to earnings ratio is at 23.94x, whereas the forward 12 month rate for the period ended 31st Dec, 2013 is estimated at 8.41x. LSI faces competition from Marvell Technology Group Ltd. (NASDAQ:MRVL), NXP Semiconductors NV (NASDAQ:NXPI), and STMicroelectronics NV (NYSE:STM). The industry P/E ratio stands at 17.79x.

At the time of this writing, LSI Corporation (NYSE:LSI) stock was trading at $6.53 per share, down $0.10, or 1.48% decline from yesterday’s close.

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