Lam Research Corporation (LRCX) Shares Rebound Following $25 Billion Buyback Plan

Lam Research Corporation shares advanced on November 11, 2026, climbing 6.1% to reach $235.88 after trading as high as $241.60. MarketBeat noted the previous close was $222.39, while TradingKey reported the stock moved up 4.71% during the session. The rise followed an announcement that the company's board of directors authorized a share repurchase program on November 5th for up to $25 billion in outstanding shares, representing as much as 9% of its equity with no termination date.

The board also declared a quarterly dividend of $0.33 per share, scheduled for payment on January 6th to shareholders of record as of December 2nd. The recent rebound comes amid substantial intermediate-term price swings. According to GuruFocus, shares fell 26.0% over the past month, while Yahoo Finance recorded a 28.16% slide across the past 30 days and a 34.01% drop over 90 days. Over longer horizons, GuruFocus listed a 38.2% year-to-date gain, and The Globe and Mail reported a 30.3% year-to-date rise.

Operationally, the semiconductor equipment provider reported first-quarter revenue of $8.22 billion, reflecting a 54.4% year-over-year increase and beating analyst projections of $8.14 billion. Earnings per share reached $2.20, slightly topping the consensus forecast of $2.18. Non-GAAP gross margin expanded to a record 52.4%, with non-GAAP operating margin climbing to 40.2%. The Customer Support Business Group contributed $2.49 billion, up roughly 40% year over year. For the fiscal second quarter, management guided for a non-GAAP gross margin of 52.5%, plus or minus 1 percentage point.

Valuation views on the company remain divided across market observers. According to GuruFocus, its GF Value assessment of $187.50 labels the stock overvalued by 25.8% at $235.88. A discounted cash flow model cited by Yahoo Finance similarly placed fair value near $178 per share. Conversely, an investor narrative on Simply Wall St highlighted by Yahoo Finance calculated fair value at $423.85. Sell-side analysts tracked by MarketBeat maintain an average rating of "Moderate Buy" with a consensus price target of $357.57.

Corporate insider activity has leaned toward divestment. GuruFocus reported that insiders sold $175.8 million worth of shares over the past year with zero purchases. Recent transactions disclosed in filings include sales by insider Ava Harter on August 31st and Director Bethany Mayer on September 9th, which brought total insider selling over the trailing 90-day window to 14,573 shares valued at $4,523,606.