Renaissance Technologies LLC has significantly reduced its holdings in Lam Research Corp., selling 459,360 shares during the first quarter, a 99.3% reduction of its stake. The prominent quantitative hedge fund's remaining position consists of just 3,406 shares, valued at approximately $728,000 at the end of the quarter, according to a recent SEC disclosure.
This major sell-off by a well-known fund contrasts with the company's recent strong performance. Lam Research recently reported better-than-expected quarterly results, with revenue up 30% year-over-year, and issued positive guidance for the first quarter of 2027. Despite Renaissance's exit, other institutional investors have reportedly increased their positions, with institutions collectively owning over 84% of the company.