MetLife Investment Management LLC Grows Stake in Lam Research Co. (NASDAQ:LRCX)

MetLife Investment Management LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 896.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 397,218 shares of the semiconductor company's stock after purchasing an additional 357,360 shares during the period. MetLife Investment Management LLC's holdings in Lam Research were worth $28,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the period. FMR LLC grew its holdings in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Norges Bank acquired a new position in Lam Research during the 4th quarter valued at about $1,661,672,000. Finally, Fisher Asset Management LLC raised its position in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after buying an additional 16,706,708 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

LRCX stock traded up $3.19 during trading on Wednesday, reaching $66.67. 18,119,704 shares of the company were exchanged, compared to its average volume of 12,156,734. The company has a 50-day moving average of $74.01 and a two-hundred day moving average of $75.68. The company has a market capitalization of $85.58 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. 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 posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is 27.96%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. UBS Group lowered their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.63.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Insiders own 0.29% of the company's stock.

Lam Research Company Profile

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.