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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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From: Jacob Snyder	1/7/2011 10:31:23 AM
	2 Recommendations Read Replies (1) of 95572

KLIC: Oppenheimer is upgrading Kulicke and Soffa Industries (NASDAQ: KLIC) to Outperform on checks indicating that Taiwan sub-cons: 1) are maintaining flattish Y/Y capex in 2011 (ASE) or, in SPIL's case, actively taking in the 600-700 wirebonders pushed out from CQ4 2) plan to spend a greater percentage of capex on effecting assembly transition from gold to copper and 3) near term, this is materializing as a 20-30% Q/Q recovery in KLIC's revenue in FQ2 (Mar). Oppenheimer said that in its view, this is supported by better than seasonal semi chip unit volume forecasts for CQ1 at the sub-cons, driven by still-lean inventory levels and continuation of IDM outsourcing as more legacy 6", 8" fabs are decommissioned. Raising FY11/FY12E EPS to $1.10/$1.70 and raising price target to $11. Kulicke and Soffa Industries closed Thursday at $7.64. seekingalpha.com my comment: Well...it looks like my plan to accumulate a short position in KLIC is happening a wee tad bit faster than anticipated...shorted at $7.5, 8, and have orders to short more at 8.5 and 9 This is why I always do everything in increments.

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