Semiconductor and Semi-Equipment Analysts - Their Calls Message Board

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Technology Stocks : Semiconductor and Semi-Equipment Analysts - Their Calls

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To: FJB who wrote (27)	1/8/1999 8:01:00 PM
From: FJB	Read Replies (1) of 195

Jan. 8 - Deutsche Bank downgraded ASML to "underweight" from a "neutral" rating. Stock closed at $42 1/8 NEW YORK, Jan 6 (Reuters) - BT Alex. Brown said semiconductor equipment manufacturing analyst Erika Klauer upgraded seven companies within the sector Wednesday from market perform ratings to either buy or strong buy ratings. -- Klauer upgraded Veeco Instruments Inc. (Nasdaq:VECO - news) to a strong buy from a market perform rating. Share price was up 2-7/8 at 59-3/8 on the Nasdaq stock market. -- Upgraded KLA-Tencor Corp. (Nasdaq:KLAC - news) to a strong buy from a market perform. Share price was up 1-1/2 to 54-1/8. -- Upgraded Novellus Systems Inc. (Nasdaq:NVLS - news) to a strong buy from a market perform. Share price was up three to 61-9/16 on the Nasdaq stock market. -- Upgraded Applied Materials Inc. (Nasdaq:AMAT - news) to a strong buy from a market perform. Share price was up 2-13/16 to 52-1/2 on the Nasdaq stock market. -- Upgraded ATMI Inc. (Nasdaq:ATMI - news) to a buy from a market perform. Share price was down 1/16 to 27-5/16 on the Nasdaq stock market. -- Upgraded LAM Research Corp. (Nasdaq:LRCX - news) to a buy from a market perform. Share price was up one at 26-1/4 on the Nasdaq stock market. Jan. 5 - 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. -- Upgraded Zygo Corp. (Nasdaq:ZIGO - news) to a buy from a market perform. Share price was up 1-1/8 to 11-1/8 on the Nasdaq stock market.

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