Shares in Lam Research hit an all-time high on Monday, reaching $1,008.50. Shares dropped $3.32 on Tuesday to close at $999.75.
Based in Fremont, Lam Research is a leading manufacturer of wafer-fabrication equipment for the semiconductor industry.
The company announced last week a 10-for-1 stock split to be effective after market close on Wednesday, October 2, 2024, for stockholders of record at that time. Lam Research’s common stock will begin trading on a post-split basis at the market open on Thursday, October 3, 2024, under the company’s existing trading symbol “LRCX.”
The company also plans to buy up to $10 billion in stock which helped shares soar over the past week. Lam shares are up 33% year-to-date and 10% in the past month.
