Lam Research (LRCX, NASDAQ): To the Insiders Message Board

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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders

LRCX 153.34

-5.0%

Nov 13 3:59 PM EST

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To: etchmeister who wrote (5475)	4/13/2006 1:28:21 PM
From: Proud_Infidel	Read Replies (1) of 5867

These guys might have some credibility if they were talking about how cheap Lam was when it was 10.....but they weren't. They were saying stay away then too..... Lam Research Looks Somewhat Pricey Tom Van Riper, 04.13.06, 12:15 PM ET How much can Lam Research spare? Morgan Stanley analyst Timm Schulze-Melander tempered his enthusiasm for the semiconductor maker in the wake of a 5% runup in its share price Thursday morning following a banner fourth-quarter profit report. Lam's shares are just off a 52-week high heading into the long weekend, after the company said it made 60 cents a share for the March quarter, up from 41 cents a year ago. But the analyst, while acknowledging that momentum in orders, revenues and earnings remain consistently ahead of market expectations, thinks pricing pressure in the company's spares business could undermine profits for the June quarter and beyond. The spares product line consists of items like valves and fittings for vacuum cleaners, which account for 8% of Lam's $1.5 billion in annual revenue, Morgan Stanley estimates. "The confident tone has eroded a little since January…suggesting that uncertainty has increased incrementally compared to a quarter ago," the analyst wrote in a research report. He maintained an "equal weight" rating on Lam Research (nasdaq: LRCX - news - people ) shares, with a $47 price target. Among other semiconductor makers, Schulze-Melander is "overweight" on Applied Materials (nasdaq: AMAT - news - people ) and Teradyne (nyse: TER - news - people ), and underweight on Novellus Systems (nasdaq: NVLS - news - people ).

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