Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Gain Millions Of Dollars After $NVLS Surges

Novellus Systems Inc. (NVLS) skyrockets today after the company agreed to be acquired by Lam Research Corp (LRCX) in an all-stock transaction deal valued at about $3.3 billion. This is a combination of two of the chip-equipment industry’s biggest companies. The transaction values Novellus at a price of $44.42 per share. Upon closing, LRCX and NVLS shareholders will own approximately 59% and 41%, respectively.

Ricky Sandler

NVLS is now trading at $41.92 at 11:43AM EST on Thursday, up 20.81% or $7.22 from yesterday’s close. Here is a list of hedge funds that may gain a lot due to the price movement.

1. Eminence Capital – Ricky Sandler: gains $25.70 million

2. Royce & Associates – Chuck Royce: gains $14.40 million

3. Aletheia Research and Management – Peter J. Eichler Jr.: gains $8.71 million

4. AQR Capital Management – Cliff Asness: gains $3.63 million

5. Renaissance Technologies – Jim Simons: gains $3.59 million

6. Bridgewater Associates – Ray Dalio: gains $3.38 million

7. Millennium Management – Israel Englander: gains $1.20 million

8. SAC Capital Advisors – Steven Cohen: gains $1.19 million

9. Gotham Asset Management – Joel Greenblatt: gains $1.08 million

10. Adage Capital Management – Phill Gross and Robert Atchinson: gains $687 thousand

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in NVLS since the end of September. We did not take into account their option positions.

Biotech Insider Alert - $5 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!