Lam Research Corporation Announces $250 Million Share Repurchase Program

Lam Research Corporation Announces $250 Million Share Repurchase Program 
FREMONT, CA -- (Marketwired) -- 04/24/13 --  Lam Research Corporation
(NASDAQ: LRCX) today announced that its Board of Directors has
authorized the repurchase of up to $250 million of the Company's
common stock. The company concluded its prior repurchase
authorization in the amount of $1.6 billion, retiring approximately
44 million shares.  
Under the new program, repurchases of common stock 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. 
The program will be funded using the company's existing on-shore cash
and on-shore cash generation. As of March 31, 2013 Lam Research had
approximately 162 million shares outstanding, $2.5 billion in total
gross cash and cash equivalents, short-term investments, and
approximately 30% of those cash resources were held domestically.  
"This decision reflects the Board's confidence in our performance and
growth strategy, and it reinforces our ongoing commitment to
enhancing shareholder value," stated Martin Anstice, president and
chief executive officer of Lam Research. "We continue to be focused
on effectively managing our cash resources, balancing the needs of
our business and providing the flexibility to invest in future growth
opportunities while sustaining our commitment to return excess cash
to shareholders," Anstice concluded.  
Statements made in this press release which are not statements 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, but are
not limited, to our plans for repurchasing our stock over a specified
time frame and/or with a methodical approach, our confidence in our
continued growth and cash generation prospects and our view that
share repurchases will be an effective way to return value to our
shareholders. These plans are dependent on the Company's future
financial condition, and our determinations of the continued value of
a repurchase program, changing business conditions in the
semiconductor industry and the overall economy and our plans for
reacting to those changes, changing customer demands, success of our
competitors' strategies including their development of new
technologies, and the technical challenges presented by our current
product offerings as well as our new products.  
Such statements are based on current expectations and are subject to
uncertainties and changes in condition, significance, value and
effect as well as other risks detailed in documents filed with the
Securities and Exchange Commission, including specifically the report
on Form 10-K for the year ended June 24, 2012 which could cause
actual results to vary from expectations. The Company undertakes no
obligation to update the information or statements made in this press
release.  
About Lam Research: 
Lam Research Corporation is a major supplier of innovative wafer
fabrication equipment and services to the worldwide semiconductor
industry. For more than 30 years, the Company has driven continuous
improvements in chip performance, power consumption, and cost,
contributing to the global proliferation of smartphones, computers,
tablets, and other electronic products. Lam Research has been the
leading supplier of high-throughput plasma etch equipment for more
than a decade and expanded its product offerings in 2008 to include
single-wafer clean systems. The Company added thin-film deposition
and wafer surface preparation technologies to its product portfolio
in 2012 with the acquisition of Novellus Systems, Inc. Headquartered
in Fremont, Calif., Lam Research maintains a global network of
service facilities throughout North America, Asia, and Europe to
rapidly meet the needs of its global customer base. It is an S&P
500(R) company whose common stock trades on the NASDAQ Global Select
Market(SM) under the symbol LRCX. For more information, please visit
http://www.lamresearch.com. 
Company Contacts:  
Corporate Communications: 
Ed Rebello
510/572-6603
e-mail: ed.rebello@lamresearch.com  
Investor Relations: 
Shanye Hudson
510/572-4589
e-mail: shanye.hudson@lamresearch.com