Rench Wealth Management Inc. Acquires 73,648 Shares of Lam Research Co. (NASDAQ:LRCX)

Rench Wealth Management Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 929.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,570 shares of the semiconductor company's stock after buying an additional 73,648 shares during the period. Lam Research makes up 2.0% of Rench Wealth Management Inc.'s portfolio, making the stock its 17th biggest position. Rench Wealth Management Inc.'s holdings in Lam Research were worth $5,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board boosted its stake in Lam Research by 2,979.0% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 15,549 shares of the semiconductor company's stock worth $1,123,000 after purchasing an additional 15,044 shares during the period. Guggenheim Capital LLC increased its position in Lam Research by 860.0% during the fourth quarter. Guggenheim Capital LLC now owns 854,100 shares of the semiconductor company's stock worth $61,692,000 after buying an additional 765,135 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Lam Research during the 4th quarter worth approximately $31,973,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Lam Research in the fourth quarter valued at about $1,581,000. Finally, Promethos Capital LLC raised its holdings in Lam Research by 900.0% in the 4th quarter. Promethos Capital LLC now owns 1,550 shares of the semiconductor company's stock valued at $112,000 after acquiring an additional 1,395 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Down 2.1 %

Shares of NASDAQ LRCX traded down $1.38 during trading on Friday, hitting $63.76. 13,845,188 shares of the company traded hands, compared to its average volume of 12,194,506. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The business's fifty day moving average is $75.18 and its 200 day moving average is $76.08. The firm has a market capitalization of $81.85 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.44%. Lam Research's dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

LRCX has been the topic of several recent research reports. Wolfe Research cut Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. UBS Group cut their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday. Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their price target for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Finally, Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.87.

Insider Activity at Lam Research

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

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.