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Technology Stocks : Semi Equipment Analysis
SOXX 303.84+1.3%Dec 22 4:00 PM EST
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To: Donald Wennerstrom who wrote (17853)8/10/2004 9:06:21 AM
From: BMcV  Read Replies (1) of 95622
 
DJ Lehman Cuts Semiconductors To Neutral From Positive

By Alex Davidson
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--The current period of expansion for the semiconductor industry may be peaking as unit and sales growth may begin to run ahead of consumption, Lehman Brothers analyst Tim Luke said Tuesday in a note downgrading the sector to neutral from positive.

As for specific companies, the analyst downgraded Xilinx Inc. (XLNX) and Fairchild Semiconductor International (FCS) to equal-weight from overweight, citing potentially higher inventories during the September-ended quarter for the two companies.

For the industry as a whole, Luke said his sector downgrade was based on end-market demand that "continues to be underpinned by a theme of a slow and steady recovery." He noted an absence of notable products to lift demand and a lack of pricing leverage among sector players that, along with rising inventory levels, could hurt companies.
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