Lam Research (NASDAQ: LRCX) recently made two major announcements. First, it approved a 10-for-1 stock split, which should take place on Oct. 2. That will mark its third stock split following its 3-for-2 split in 1993 and 3-for-1 split in 2000.

Second, Lam approved a $10 billion buyback plan with no termination date. CFO Doug Bettinger said the buyback would be consistent with its "plan to return 75% to 100% of free cash flow to stockholders" through dividends and buybacks.

Lam's stock rose slightly after the news, but its stock has already rallied about 64% over the past 12 months and is only trading 3% below its all-time high. Do its upcoming stock split and fresh buyback plan make its stock worth buying?

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Source Fool.com