Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 228.38

+2.7%

Jan 21 3:59 PM EST

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To: Ian@SI who wrote (7469)	1/5/1999 5:55:00 PM
From: goldsnow	Read Replies (1) of 10921

FREMONT, Calif. (CBS.MW) -- Shares of Lam Research jumped 33 percent Tuesday after Soundview Technology Group upgraded the chip-equipment maker's stock. Soundview's semiconductor analyst Michael O'Brien raised his rating on the company to 'buy" from "hold" and established a 6 to 12-month price target of $27. Shares of Lam (LRCX) advanced 6 1/4 to 25 1/4. O'Brien, however, lowered his fiscal 1999 earnings estimate to a loss of $1.98 per share from a loss of $1.74 on a backlog expectation. That was still ahead of the First Call consensus estimate of a loss of $2.66. O'Brien also established a fiscal 2000 estimate of 60 cents a share, which is well above the current First Call consensus estimate of 15 cents. In a research note, O'Brien said although Lam has struggled in the past 18 months with its operations improvement plan and a push to re-establish its customer base, the company has shown improvement in its product offerings over the last year. O'Brien also said he believes the company has improved significantly in production spending and expects positive results from this improvement over the next several quarters. In addition, O'Brien said he believes that the chip equipment companies will lead the recovery in the semiconductor industry. As a result, he also upgraded Teradyne (TER) to "strong buy" from "buy" and established a 12-month price target of $60 a share. O'Brien also upgraded KLA-Tencor to "strong buy" from "hold." He upped KLA's (KLAC) second-quarter earnings estimate to 12 cents from 8 cents a share, above the current First Call consensus estimate of 9 cents a share. He increased fiscal 1999 estimates to 61 cents from 43 cents a share, again, above First Call's 51 cents, and he raised fiscal 2000 estimates to $1.52 from $1.26. Analysts polled by First Call expect the company to earn $1.37 for its fiscal 2000 period. Shares of KLA-Tencor gained 6 7/8 to 52 5/8. Teradyne shares rose 3 1/2 to 45 5/8. cbs.marketwatch.com

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