Lam Research Surges 11% After Board Approves $25 Billion Buyback and Quarterly Dividend

Lam Research shares surged more than 11% in premarket trading on November 6, 2026, reaching $205.92, after its board authorized a $25 billion share repurchase program and declared a quarterly dividend of $0.33 per share. The buyback announcement came at a strategically opportune moment, arriving one session after the stock shed roughly $36 to close near $185, a decline of around 10%, amid a broad semiconductor and AI sector selloff tied to post-election repositioning and data center capital expenditure concerns.

The recovery was part of a wider rebound across chip stocks on November 6. The iShares Semiconductor ETF rose nearly 5% and Nasdaq 100 futures gained 1.3%, with Micron up 7.5%, Marvell up 7%, and AMD and Applied Materials each climbing roughly 6%. The prior session's rout had pushed South Korea's KOSPI down more than 6% and triggered heavy losses across AI-linked equities.

Despite the rebound, some caution persisted. On CNBC's Mad Money, Jim Cramer expressed reservations about aggressive dip-buying in Lam Research, recommending a phased approach and suggesting investors buy only 25 shares for every 100 they intend to hold, then wait. He noted that the stock's roughly 37% year-over-year gain from $135 leaves room for further downside even at the post-selloff valuation of approximately 19 times earnings.

Lam Research was also named among 67 companies that have rejected OKX's plans to tokenize their stocks on blockchain platforms.