Lam Research Corporation
Lam Research Announces $10 Billion Share Repurchase and 10-for-1 Stock Split
Summary
Lam Research Corporation announced a $10 billion share repurchase authorization and a 10-for-1 stock split. The share repurchase, effective immediately, is part of the company's plan to return 75% to 100% of free cash flow to shareholders. The stock split, set to be effective on October 2, 2024, aims to increase participation in the company's employee stock plans. Trading on a split-adjusted basis is expected to commence on October 3, 2024.
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About Lam Research Corporation
Lam Research Corporation is a leading supplier of semiconductor processing equipment used in the fabrication of integrated circuits. Renowned for its innovation in wafer fabrication, Lam Research focuses on developing advanced technology solutions that enable critical processes such as plasma etch and deposition, which are essential for manufacturing chips found in a wide range of electronic devices. The company's equipment plays a pivotal role in the production of memory and logic devices, foundational to computing, communications, and consumer electronics sectors. With a global presence, Lam Research collaborates with semiconductor manufacturers to enhance yield and improve performance, ensuring next-generation chip technologies meet the demands of modern applications. As the semiconductor industry continues to expand and evolve, Lam Research remains integral to driving advancements and efficiency improvements in chip production, thereby maintaining its strategic significance within the technology supply chain.
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