Renaissance Group LLC Sells 17,969 Shares of Lam Research Co. (NASDAQ:LRCX)

Renaissance Group LLC lowered its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 45.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,577 shares of the semiconductor company’s stock after selling 17,969 shares during the period. Renaissance Group LLC’s holdings in Lam Research were worth $1,558,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Fairway Wealth LLC grew its stake in shares of Lam Research by 900.0% in 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 during the period. Financial Perspectives Inc boosted its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc raised its position in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays decreased their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Oppenheimer assumed coverage on Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target for the company. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 sale, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Down 3.1 %

Lam Research stock opened at $60.25 on Wednesday. The firm has a 50 day moving average price of $77.41 and a 200-day moving average price of $76.73. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a market capitalization of $77.34 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.47 and a beta of 1.52.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

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.