0000707549-16-000107.txt : 20161118 0000707549-16-000107.hdr.sgml : 20161118 20161118130031 ACCESSION NUMBER: 0000707549-16-000107 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20161118 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20161118 DATE AS OF CHANGE: 20161118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LAM RESEARCH CORP CENTRAL INDEX KEY: 0000707549 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 942634797 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12933 FILM NUMBER: 162007195 BUSINESS ADDRESS: STREET 1: 4650 CUSHING BLVD CITY: FREMONT STATE: CA ZIP: 94538 BUSINESS PHONE: 5106590200 MAIL ADDRESS: STREET 1: 4650 CUSHING PARKWAY CITY: FREMONT STATE: CA ZIP: 94538 8-K 1 lrcx_8-kx11x18x2016xdoc.htm PRESS RELEASE - CAPTIAL RETURN PROGRAM Document


FORM 8-K

 Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 18, 2016
  
LAM RESEARCH CORPORATION
(Exact name of registrant as specified in its charter)
 
 
Delaware
 
0-12933
 
94-2634797
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification Number)
4650 Cushing Parkway
Fremont, California 94538
(Address of principal executive offices including zip code)
(510) 572-0200
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
 
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
 
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
 
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 






Table of Contents
 
 
 
 
 
 
Item 8.01
  
Other Events
 
3
Item 9.01
  
Financial Statements and Exhibits
 
3
SIGNATURES
 
4
EXHIBIT INDEX
 
5
EX-99.1
 
 





 Item 8.01
Other Events

On November 18, 2016, Lam Research Corporation (the “Company”) issued a press release announcing a capital return program. A copy of the press release is attached hereto as Exhibit 99.1.
 Item 9.01
Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release of Lam Research Corporation dated November 18, 2016.
 
 





SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
November 18, 2016
 
LAM RESEARCH CORPORATION
 
 
 
(Registrant)
 
 
 
/s/ George M. Schisler, Jr.
 
 
 
George M Schisler, Jr.
 
 
 
Vice President, General Legal Affairs





EXHIBIT INDEX
99.1     Press Release of Lam Research Corporation dated November 18, 2016.



 EX-99.1 2 lrcx_exhibitx991x11-18x16.htm PRESS RELEASE - CAPTIAL RETURN PROGRAM Exhibit



Lam Research Corporation Announces $1.3 Billion Capital Return Program
•
Announces $1 billion share repurchase authorization.
•
50% Increase of quarterly dividend to $0.45 from $0.30 per share.
Fremont, Calif., November 18, 2016 – Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors has approved a $1 billion share repurchase authorization, with execution planned over the next 12 to 18 months; and a 50% increase of the company’s quarterly dividend.
On an annualized basis, the quarterly dividend of $0.45 per share of common stock will return approximately $291 million to stockholders based on shares outstanding as of September 25, 2016. The increased dividend payment has been declared and will be made on January 4, 2017 to holders of record on December 14, 2016. Future dividend payments are subject to review and approval by the Board.
Additionally, the company is authorized to repurchase up to $1 billion of common stock; this authorization supersedes the remaining balances from any prior authorizations. Repurchases 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.
"Our expanded, $1.3 billion capital return program is strong validation of the Board’s confidence in our financial performance and strong cash generation capability," stated Martin Anstice, president and chief executive officer of Lam Research. "As we execute on the outstanding business opportunities in front of us, we remain committed to augmenting returns to stockholders through the combination of opportunistic share repurchases and a bias towards growing our dividend over time.”
Caution Regarding Forward-Looking Statements:
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our plans and commitment to execute a capital return program, including the share repurchase program, quarterly dividends, and annualized return; and our financial performance, cash generation capability and business opportunities. These forward-looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect, our continued financial health and ability to make share repurchases and pay dividends, as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 26, 2016, and Form 10-Q for the quarter ended September 25, 2016. These uncertainties and changes could materially affect the forward looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this press release.
About Lam Research:
Lam Research Corp. (Nasdaq: LRCX) is a trusted global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's broad portfolio of market-leading deposition, etch, and clean solutions helps customers achieve success on the wafer by enabling device features that are 1,000 times smaller than a grain of sand, resulting in smaller, faster, more powerful, and more power-efficient chips. Through collaboration, continuous innovation, and delivering on commitments, Lam is transforming atomic-scale engineering and enabling its customers to shape the future of technology. Based in Fremont, Calif., Lam Research is a Nasdaq-100 Index® and S&P 500® company whose common stock trades on the Nasdaq Global Select MarketSM under the symbol LRCX. For more information, please visit http://www.lamresearch.com. (LRCX-F)
Company Contacts:
Satya Kumar
Investor Relations
(510) 572–1615