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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 154.38+1.6%10:58 AM EST
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To: Czechsinthemail who wrote (4953)3/5/1998 3:38:00 AM
From: Jong Hyun Yoo  Read Replies (1) of 10921
 
One of the bargain might be Lam Research(LRCX). It has the
lower PSR ratio of all semi-equipment companies. A couple
of weeks ago, it announced company wide restructuring plan
with 10% work force reduction. During the conference call,
CEO of the company said that outlook for the semi-equipment
environment remains very much pressured due to overcapacity
of the supply especially on DRAM side and economic problems
in Asia region. He said that he might be "overly pessimistic"
but the reduction in work force and restructuring plan is
necessary to endure this uncertain time. It seems as though
CEO Jim Bagley assessment of the situation is right on track
given Intel's warning today. He seems to be very much focused
in his plan for the future and still thinks that 1999 will be
a tremendous year for Lam. When they endure this time with
improved gross margin and manufacturing efficiency in Alliance
based TCP product, Lam will come out as a big winner during
expected upturn in 1999. With EPS of $4, level achieved two years
ago, and trailing PE of 15 - 20, this stock has an upside
potential of as least $70 a share. Currently, it is trading at
around $28. Tomorrow, should it drop much, it should be a great
chance to buy.
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