Key Developments: Lam Research Corp (LRCX.O)
47.08USD
14 Jun 2013
$-0.38 (-0.80%)
$47.46
$47.56
$47.92
$47.01
895,934
2,120,343
$49.13
$31.17
Latest Key Developments (Source: Significant Developments)
Lam Research Corp Issues Q4 2013 EPS Guidance Above Analysts' Estimates-Conference Call
Lam Research Corp announced that for the fourth quarter of 2013, it expects revenues of $975 million plus or minus $30 million and earnings per share (EPS) of $0.70 plus or minus $0.07. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $914 million and EPS of $0.61 for the fourth quarter of 2013. Full Article
Lam Research Corp Announces $250 Million Share Repurchase Program
Lam Research Corp announced that Board of Directors has authorized the repurchase of up to $250 million of the Company's common stock. The Company concluded its prior repurchase authorization in the amount of $1.6 billion, retiring approximately 44 million shares. Under the new program, repurchases of common stock may be made through both public market and private transactions, and may include the use of derivative contracts and structured share repurchase agreements. The share repurchase program may be suspended or discontinued at any time and does not have a set expiration. Full Article
Lam Research Corp Appoints Doug Bettinger as Chief Financial Officer
Lam Research Corp announced that effective March 11, Doug Bettinger will serve as executive vice president and chief financial officer, succeeding Ernie Maddock. Lam announced Mr. Maddock's planned departure from the Company in January. Mr. Maddock will assist Mr. Bettinger in the transition process through mid-April. Full Article
Lam Research Corp Issues Q3 2013 Guidance Below Analysts' Estimates-Conference Call
Lam Research Corp announced that for third quarter of 2013, it expects revenues of $830 million, plus or minus $30 million. Earnings per share of $0.35, plus or minus $0.07, based on a share count of approximately 170 million shares. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $867 million and EPS of $0.47 for third quarter of 2013. Full Article
Lam Research Corp Announces Planned Departure Of Chief Financial Officer
Lam Research Corp announced that after more than 15 years with Lam, Ernie Maddock, Chief Financial Officer, will be leaving the Company in mid-April. The Company has an active search for a successor and consistent with prior planned executive transitions at Lam, Maddock will remain Chief Financial Officer until a successor is in place and will remain available as necessary to ensure a smooth transition thereafter. Full Article
Axcelis Technologies Inc And Lam Research Corp Announces Strategic Collaboration Agreement On Ion Implant, Dry-Strip, And Etch
Axcelis Technologies Inc and Lam Research Corp., announced a strategic collaboration agreement focusing on the interrelationship between ion implantation, etch processes, and photoresist strip applications, including material modification implants and high-dose implant strip (HDIS). Separately, Axcelis decided that it will exit the dry-strip business and divest dry-strip intellectual property and technology, including the advanced non-oxidizing process technology of Integra product line, to Lam Research, allowing Axcelis to focus exclusively on the ion implant market. Axcelis will continue to ship 300 mm dry-strip products through August 2013, and support the Axcelis installed base indefinitely, including all existing parts and service contracts. Full Article
Lam Research Corp Issues Q2 2013 Guidance; Revenue Guidance Below Analysts' Estimates-Conference Call
Lam Research Corp announced that for second quarter of 2013, it expects non-GAAP revenue in the range of $850 million, plus or minus $30 million and non-GAAP earnings per share (EPS) of $0.45 plus or minus $0.07. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $906 million and EPS of $0.48 for second quarter of 2013. Full Article
Lam Research Corp Announces Retirement of Chairman
Lam Research Corp announced that James W. Bagley, who has served as the Company's Chairman of the Board of Directors for the last 15 years, has decided to retire from the industry, including his position on Lam's board, effective as of the Company's annual meeting of stockholders which will be held on November 1, 2012. The Board appointed Lam's current vice-Chairman, Stephen G. Newberry, to succeed Bagley as Chairman upon Mr. Newberry's reelection to the Board at the annual meeting. Full Article
Lam Research Corp Issues Q1 2013 Guidance Below Analysts' Estimates-Conference Call
Lam Research Corp announced that for first quarter of 2013, it expects revenue guidance of combined Company to be $900 million, plus or minus $30 million and earnings per share (EPS) guidance of combined Company to be $0.40, plus or minus $0.07. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.043 billion and EPS of $0.76 for first quarter of 2013. Full Article
Lam Research Corporation Completes Merger With Novellus Systems Inc
Lam Research Corporation announced that it has completed its merger with San Jose, Calif.-based Novellus Systems, Inc., With the transaction close, Novellus shareholders will receive 1.125 shares of Lam Research common stock for each share of Novellus common stock that they own, in a tax-free exchange. The transaction was valued at a price of $40.48875 per common share, based on the closing price of Lam Research's stock on June 4, 2012. Lam Research stockholders and former Novellus shareholders now own approximately 57% and 43% of the combined company, respectively. Full Article
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