MetLife Investment Management LLC Has $32.53 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

MetLife Investment Management LLC lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,858 shares of the semiconductor company’s stock after selling 1,075 shares during the period. MetLife Investment Management LLC’s holdings in Lam Research were worth $32,527,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Jennison Associates LLC lifted its holdings in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares during the period. Creative Planning raised its position in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Vest Financial LLC lifted its stake in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after acquiring an additional 28,089 shares during the last quarter. Finally, Benson Investment Management Company Inc. acquired a new stake in Lam Research during the 3rd quarter valued at approximately $5,182,000. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $72.55 on Wednesday. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a 50 day moving average price of $76.80 and a two-hundred day moving average price of $87.04. The firm has a market capitalization of $93.35 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.85 EPS. Equities analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LRCX shares. TD Cowen upped their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Lam Research 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.