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Technology Stocks : Lattice Semiconductor

LSCC 62.49

-1.0%

3:59 PM EST

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To: semi engineer who wrote (48)	5/26/1996 11:05:00 AM
From: E_K_S	of 339

I still like LSCC over Altera and Xlynx because I believe the downside risk is much lower. As I posted in earlier notes on this board, it appears that the market expectations for future growth in both Altera and Xlynx have been reduced. This is evident in the revision downward of the First Call estimates for both companies. Actual earnings for both companies are below LSCC reported earnings. Altera is expected to surpass LSCC in earnings next year but you must pay over a 50% perminum (too much for me!!). That is not to say that analysts can change their mind and raise their growth estimates in the future but maybe on the next cycle up, LSCC may be in their radar screen. LSCC has and will continue to post higher earnings. For me as a long term investor, earnings reported are like money in the bank...I am not basing my valuation on "future" results but "actual" results. This is a conservative approach but for me, I prefer safety, low downside and will give up a bit of market growth 'expectations' which can change and the company has no control over. TWO RECENT DEVELOPMENTS! =========================== According to recent 13G filings with the SEC the following companies hold 5% or more of LSCC shares. 1) At prices between $30-$33 on 2/2/96 Seligman reported they owned 8% of shares (1,747,410 shares). 2) At prices between $32-$33 on 2/10/96 Twenty Century reported they owned 6.4% of shares (1,399,500 shares). 3) At prices between $30-$31 on 4/12/96 Seligman Increased their holdings to 11% of shares (total owned 2,496,002) an increase of 3% from their 2/2/96 purchase. Seligman usually holds for long term between 2-5 years. They must be very bullish on long term to own 11% of the company! J.&W. Seligman is a mutual fund located in New York which focuses on Growth Companies. Check out their web page use the search word "Seligman". Hope this helps.. EKS

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