Lam Research Co. (NASDAQ:LRCX) Shares Sold by Renaissance Group LLC

Renaissance Group LLC decreased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 45.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,577 shares of the semiconductor company's stock after selling 17,969 shares during the quarter. Renaissance Group LLC's holdings in Lam Research were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Perspectives Inc raised its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC raised its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lam Research in the 4th quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new stake in Lam Research during the fourth quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc raised its position in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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Lam Research Stock Up 1.6 %

Shares of NASDAQ:LRCX traded up $1.05 during trading hours on Friday, hitting $67.48. The company's stock had a trading volume of 14,704,156 shares, compared to its average volume of 12,144,348. The firm's fifty day moving average price is $76.49 and its 200 day moving average price is $76.49. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a market capitalization of $86.62 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LRCX. Jefferies Financial Group lifted their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Oppenheimer dropped their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $96.87.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.