| | From CBS Market Watch
By Janet Haney, CBS.MarketWatch.com
Last Update: 4:22 PM ET Dec 13, 2000
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NEW YORK (CBS.MW) -- Chip equipment stocks were the talk of the semiconductor world Wednesday, as analysts cast doubt over the outlook for capital-equipment spending in the industry.
"We believe that semiconductor equipment orders are likely to decline over the next two quarters," Prudential Securities analyst Shekhar Pramanick wrote in a morning research note.
"However, we do believe that semiconductor manufacturers have not added excessive capacity in the current cycle and orders could return once the end-market demand starts to see positive momentum," Pramanick added.
All the same, Prudential lowered earnings estimates, price targets and ratings on six chip equipment stocks -- Applied Materials (AMAT: news, msgs) , KLA-Tencor (KLAC: news, msgs) , Lam Research (LRCX: news, msgs) , Kulicke & Soffa (KLIC: news, msgs) , Novellus Systems (NVLS: news, msgs) and Teradyne (TER: news, msgs) .
As a result, Applied Materials' stock gave back $2.19 to $42.69, KLA-Tencor shares shed $2.19 to $30.44 and Lam Research stock lost $1.50 to $16.56. |
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