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Lam Research Board Approves $5 Bln Share Repurchase

Lam Research Corp. (LRCX) announced the company is authorized to repurchase up to $5 billion of common stock. 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 company noted that the repurchase program has no termination date and may be suspended or discontinued at any time. Funding for the repurchase program may be through a combination of cash on hand, cash generation, and borrowings.

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