Lam Research Corporation announced that directors Sohail U. Ahmed and Michael R. Cannon will retire from the Board of Directors effective November 2, 2026. Consequently, the Board size will decrease from 12 to 10 members. Mr. Ahmed served for approximately seven years, while Mr. Cannon served for approximately 16 years, including extensive tenure on key committees such as audit and nominating and governance. The company expressed appreciation for their contributions. Lam Research Corporation operates in the semiconductor industry, designing, manufacturing, marketing, servicing, and refurbishing semiconductor processing equipment used to fabricate integrated circuits.

Lam Research reported fiscal second quarter results ending June 28, 2026, with revenue of $6.72 billion, a 15.1% increase from the prior quarter's $5.84 billion. U.S. GAAP diluted earnings per share rose to $1.81 from $1.45, while non-GAAP diluted EPS reached $1.82 compared to $1.47. The company provided third-quarter guidance of approximately $8.10 billion in revenue and $2.15 in non-GAAP diluted EPS. Cash balances increased to $5.60 billion, and deferred revenue grew to $2.43 billion. Lam Research is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry.