Lam Research adds $25bn to its buyback and holds its quarterly dividend at $0.33
The new authorization has no end date and no obligation to buy, and follows a September quarter in which Lam slightly missed forecasts on revenue and earnings.
Chart: LRCX, one-minute prices, three sessions
Lam Research's board has approved a new $25bn share repurchase authorization, on top of what remains of the previous one, and declared a quarterly dividend of $0.33 per share. The dividend will be paid on January 6, 2027 to holders of record on December 2, 2026.
The dividend is unchanged. It matches the $0.33 Lam declared with its September-quarter results on October 21, itself up from $0.26 the quarter before. There is no second raise, so the new money goes to buybacks.
The program has no termination date and does not oblige Lam to buy any stock.
The authorization follows a quarter that came in slightly under forecasts. For the September quarter Lam reported EPS of $2.20, $0.02 worse than expected, and revenue of $8.22bn against $8.31bn expected. Its own forecast for the fiscal second quarter is more upbeat: revenue at a midpoint of $8.60bn, plus or minus $400m, and non-GAAP EPS at a midpoint of $2.33, plus or minus $0.15.
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Lam Research reports Q1 EPS of $2.20, $0.02 worse than expected. Revenue $8.22B vs $8.31B expected.
Lam guides fiscal second-quarter revenue to a midpoint of $8.60 billion, plus or minus $400 million. Lam guides fiscal second-quarter non-GAAP diluted EPS to a midpoint of $2.33, plus or minus $0.15. Lam declared a cash dividend of $0.33 per share for the September 2026 quarter, up from $0.26 per share in the prior quarter.
Tim Archer, Lam Research's President and CEO, attributed the record revenue and earnings to strong AI-driven demand and operational execution, saying the company's investments in technology and capacity are helping it outgrow the wafer fabrication equipment market.