Welcome to our dedicated page for Lam Research news (Ticker: LRCX), a resource for investors and traders seeking the latest updates and insights on Lam Research stock.
Lam Research Corp. supplies wafer fabrication equipment and services used by semiconductor manufacturers to build advanced chips. Company news commonly covers quarterly operating results, regional revenue mix, etch and deposition demand, customer support revenue, dividends, investor events, and global operations tied to chipmaker capacity and technology transitions.
Lam Research updates also highlight process-development collaborations and product technologies such as Aether dry resist, Kiyo and Akara etch platforms, Striker and ALTUS Halo deposition systems, advanced packaging capabilities, and customer service offerings that include spares, upgrades, and Reliant non-leading-edge equipment.
Lam Research Corp. (Nasdaq: LRCX) has announced the recipients of its 2024 Supplier Excellence Awards, recognizing nine companies globally for their outstanding performance. The awards were presented in five key categories:
- Excellence in Operational Execution: Celestica Electronics SDN. BHD and Texon Co.
- Environmental, Social and Governance (ESG) Excellence: TOTO
- Excellence in Quality: Easys s.r.o.
- Rapid Prototype Materials Performance: CryoWest, Inc. and Venture
- New Product Introduction Performance: INFICON AG, TOKAI CARBON KOREA, and Times Microwave Systems, Inc.
Lam Research emphasizes the importance of a strong and scalable supply chain in accelerating innovation and meeting customer demands. The company collaborates with thousands of suppliers worldwide to responsibly source specialized materials and components for semiconductor manufacturing equipment.
Lam Research Corp. (Nasdaq: LRCX) has announced that Doug Bettinger, Executive Vice President and Chief Financial Officer, will participate in the upcoming Goldman Sachs Communacopia & Technology Conference. The event is scheduled for September 11, 2024, at 8:10 a.m. Pacific Daylight Saving Time (11:10 a.m. Eastern Daylight Saving Time).
A live audio webcast of the presentation will be available to the public through the Investors' section of Lam's website at www.lamresearch.com. For those unable to attend live, a replay of the audio webcast will be accessible for two weeks following the presentation date.
Lam Research Corp. (Nasdaq: LRCX) has appointed Ita Brennan and Mark Fields to its board of directors, effective August 30, 2024. Brennan, former CFO of Arista Networks, brings extensive financial management expertise in the technology sector. Fields, a senior advisor at TPG Capital LP, offers decades of executive-level business acumen across various industries.
Brennan's background includes CFO roles at QuantumScape and Infinera, as well as board positions at Cadence Design Systems and Planet Labs PBC. Fields previously served as interim CEO of Hertz Global Holdings and held leadership roles at Ford Motor Company, including President and CEO. He currently serves on several boards, including QUALCOMM and Hertz Global Holdings.
Both appointees are expected to contribute valuable operational and financial expertise to support Lam Research's long-term growth strategy.
Lam Research (Nasdaq: LRCX) has announced a significant 15% increase in its quarterly dividend. The dividend will rise from $2.00 to $2.30 per share of common stock. This increased dividend will be paid on October 1, 2024, to shareholders of record as of September 17, 2024.
Lam Research is a global leader in wafer fabrication equipment and services for the semiconductor industry. The company's technology is important in building smaller, more efficient chips, with nearly every advanced chip today utilizing Lam's technology. As a FORTUNE 500® company, Lam Research continues to demonstrate its commitment to shareholder value through this dividend increase.
Lam Research Corp. (Nasdaq: LRCX) has introduced Lam Cryo™ 3.0, the third generation of its cryogenic dielectric etch technology for 3D NAND flash memory. This breakthrough technology is designed to meet the increasing demand for high-capacity, high-performance memory driven by the proliferation of generative AI. Lam Cryo 3.0 offers:
- Industry-leading precision and profile control
- Capability to etch memory channels up to 10 microns deep with less than 0.1% deviation
- 2.5 times faster etching compared to conventional processes
- 40% reduction in energy consumption and up to 90% reduction in emissions
The technology paves the way for 1000-layer 3D NAND, addressing key manufacturing challenges in the AI era.
Lam Research (LRCX) reported financial results for Q2 2024 ending June 30. Key highlights include:
- Revenue of $3.87 billion, up 2.1% quarter-over-quarter
- GAAP EPS of $7.78, up 6.0% Q/Q
- Non-GAAP EPS of $8.14, up 4.5% Q/Q
- GAAP operating income at 29.1% of revenue, up 120 bps Q/Q
- Non-GAAP operating income at 30.7% of revenue, up 40 bps Q/Q
The company saw growth in its customer support business. For Q3 2024, Lam expects revenue of $4.05 billion ± $300 million and non-GAAP EPS of $8.00 ± $0.75. CEO Tim Archer noted strategic investments in R&D and operations to position Lam for outperformance in anticipated multi-year strong wafer fab equipment spending.
Lam Research Corp. (NASDAQ: LRCX) has appointed Ava Harter as senior vice president and chief legal officer. Reporting to CEO Tim Archer, Harter will oversee all legal functions, government, and regulatory affairs. She brings extensive experience from her previous roles as chief legal officer at Whirlpool and general counsel at Owens Corning. Harter's background includes significant legal positions at General Electric and Dow Chemical, as well as work at law firms and as an adjunct professor.
CEO Tim Archer highlighted Harter's experience in developing legal strategy and building world-class teams, emphasizing her value to Lam as they focus on enabling next-generation semiconductors in the AI era. Harter expressed enthusiasm for advancing and protecting Lam's innovation while serving customers responsibly.
Lam Research (NASDAQ: LRCX) announced it will host its quarterly financial conference call and webcast on Wednesday, July 31, 2024. The event will start at 2:00 p.m. Pacific Daylight Time (5:00 p.m. Eastern Daylight Time). Investors can access the live webcast through the Investors section of Lam's website. A replay of the webcast will be available approximately three hours after the conclusion of the call.
Lam Research Corp. (Nasdaq: LRCX) released its 2023 Environment, Social, and Governance (ESG) report, showcasing significant sustainability achievements. Notable highlights include saving approximately 2.8 million kWh of energy globally, generating 5.5 million kWh from solar, and nearly doubling renewable energy consumption. Lam saved 20.1 million gallons of water globally and completed a critical wastewater reclamation project in Fremont, California. The company identified a wafer-less auto-cleaning process potentially reducing NF3 emissions by up to 85% and introduced product features reducing NOx and N2O emissions by 50% and 30%, respectively. Lam also donated $6.8 million through The Lam Foundation and $10 million to FIRST® Global to promote STEM education. Recognitions in 2023 included being named one of the World's Most Admired Companies by Fortune Magazine and one of the World's Best Companies by Time Magazine.
Lam Research announced a $10 billion share repurchase authorization and a 10-for-1 stock split. The share repurchase aligns with their plan to return 75% to 100% of free cash flow to stockholders. This authorization supplements previous ones and has no termination date. The stock split will be effective after market close on October 2, 2024, with trading on a post-split basis starting October 3, 2024. Adjustments will be made to various equity plans and agreements. Lam Research supplies innovative wafer fabrication equipment and services to the semiconductor industry and is a FORTUNE 500® company.