New York, Feb 6, 2026, 12:59 PM ET — Regular session.
- Shares of Lam Research climbed roughly 7% during midday Nasdaq trading, following a broader bounce in chip stocks.
- An SEC filing reveals a new board member and a COO succession planned for March 6.
- Lam announced a quarterly dividend of $0.26 per share, set for payment on April 8 to shareholders recorded by March 4.
Lam Research Corp (LRCX) jumped roughly 7% in midday Nasdaq trading on Friday, riding a wider rally in semiconductor stocks. The shares last changed hands at $228.71, up $15.40, after fluctuating between $214.23 and $229.43 during the session. Applied Materials, KLA, and ASML each advanced between about 4% and 8%.
Wall Street ended a brief slump in tech stocks, with chipmakers leading the charge. The PHLX Semiconductor Index, which tracks U.S. chip stocks, jumped 4.6%. Still, Ben Falcone, managing director at Kayne Anderson Rudnick, warned that the market will keep swinging, citing ongoing concerns about heavy artificial-intelligence investment. 1
Why this matters now: Lam is right at the edge of new chip plant spending. When investors get nervous about returns from AI buildouts, they usually sell off equipment makers first—and then snap them up again just as quickly.
In a Feb. 4 filing, Lam announced it appointed Cadence Design Systems CEO Anirudh Devgan to its board. The company also revealed a COO transition set for March 6, with Pat Lord retiring and Sesha Varadarajan taking over. Board chair Abhijit Talwalkar described Devgan as “one of the industry’s foremost authorities.” CEO Tim Archer said Lam is “increasing velocity across our operations” to push for “outperformance in the AI era.” 2
According to the filing, Devgan was added to Lam’s innovation and technology committee, and the board grew by one seat.
Lam highlighted its cash returns on Thursday, announcing that its board signed off on a quarterly dividend of 26 cents a share. The payout is set for April 8, with the record date on March 4. 3
The dividend announcement and leadership changes come as investors weigh whether chip demand will translate into actual factory orders, rather than just optimistic forecasts from major tech firms. Lam sells etch and deposition equipment — the tools that carve and layer materials on wafers — processes that grow more involved as chips become increasingly complex.
In late January, Lam’s most recent quarterly outlook projected third-quarter revenue beating Wall Street estimates, driven by increased orders for its chipmaking equipment, Reuters reported. 4
But the stock’s leverage works both ways. If concerns about AI spending and returns resurface, the “chip rebound” trade could unravel fast, with equipment orders trailing the cycle by a delay.
Investors are marking two key dates: March 6 for the COO transition and March 4 as the record date for the upcoming dividend. Beyond that, traders will focus on the next company update, hoping for clearer demand figures.
