LRCX received a nice boost this morning from Zack's
<< March 10, 2004 09:00 AM US Eastern Timezone
Zacks Buy List Highlights: Broadcom, Plum Creek Timber, Lam Research, and ValueClick
CHICAGO--(BUSINESS WIRE)--March 10, 2004--Zacks.com releases another list of stocks that are currently members of the coveted Zacks #1 Ranked list which has produced an average annual return of +33.7% since inception in 1988 and has gained +100.3% since January 2000 when the market was in the grips of the worst bear market in 60 years. Among the #1 ranked stocks today we highlight the following companies: Broadcom Corporation (NASDAQ:BRCM) and Plum Creek Timber Company, Inc. (NYSE:PCL). Further they announced #2 Rankings (Buy) on two other widely held stocks: Lam Research Corporation (NASDAQ:LRCX) and ValueClick, Inc. (NASDAQ:VCLK). To see the full Zacks #1 Ranked list or the rank for any other stock then visit. at.zacks.com
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<< Here is a synopsis of why these stocks have a Zacks Rank of 2 (Buy). Note that a #2 Buy rating is applied to 15% of all the stocks we rank:
Lam Research Corporation (NASDAQ:LRCX) designs, manufactures, markets and services semiconductor processing equipment used in the fabrication of integrated circuits. Lam Research will report its next quarterly results on April 14th. The report will come on the heels of a solid performance for the quarter ended December 28, 2003, where ongoing net income per diluted share of 7 cents exceeded the consensus by approximately +40%. One of the most encouraging results of the quarter may have been that new orders grew +28% to about $271 million over the prior quarter, accelerating the positive momentum started early in the calendar year and yielding an ending backlog of $375 million. Total cash (cash equivalents, short-term investments, and restricted cash) increased by $61.5 million to $704.5 million at the end of the quarter. Earnings estimates for the year ending June 2004 remain at higher levels than from two months ago for Lam Research by about 9 cents, or +26%. The company went on to say that the business environment continues to be robust for Lam Research, which bodes well for the company and its shareholders.>>
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