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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Ram Seetharaman who wrote (19450)	7/21/1999 5:20:00 PM
From: shane forbes	Read Replies (1) \| Respond to of 25814

Ram: 'Slow' is good. Rome was not built in a day. You digest first. The race is not to the swiftest... Patience is a virtue. Excessive Greed is ugly. All in good time. Life is good <g>

To: Ram Seetharaman who wrote (19450)	7/22/1999 1:20:00 AM
From: shane forbes	Respond to of 25814

Pru ups target to $70 from $50. Just wait a few more days - mystery music here <g> BTW ignore dumb ass byline and dumbass general reporting about 'profit before EXPENSES'. Sheesh talk about bonehead reporting. Replace 'Expenses' with 'Amortization expense related to Symbios' in general and add on the restructuring and IPR&D for SEEQ this time around. --- [BTW LSI exceeded the high end of First Call which was 0.20.] ----- [And another BTW something many people don't quite get <g> look at the percentage by which LSI beat estimates. The actual 3c is not nearly as important as the fact that it was a 15+% surprise above estimates {Note however low numbers don't count as a 1c surprise above a 1c estimate is not a 50% surprise - it is luck! However this same problem with low numbers means 3c above 18c is not quite 16.7%! It is 15+% if you get my drift!} How did the companies do? LSI was 15+% above. TI was 7% above. MOT was 7% above. Intel bombed as surprise was ethereal - ha ha. XLNX was 11% above. ALTR was 0% above. STM was 0% above. LSI 2nd-Qtr Profit Falls 69% After Expenses Milpitas, California, July 21 (Bloomberg) -- LSI Logic Corp., the No. 1 Maker of custom semiconductors, said second- quarter earnings fell 69 percent because of expenses related to acquisitions. Net income fell to $9.83 million, or 6 cents a share, from $31.4 million, or 22 cents, in the year-earlier quarter. Revenue rose 49 percent to $501 million, from $336.3 million. Before acquisition and other costs, profit would have been $31.2 million, or 21 cents a share, compared with $32.6 million, or 23 cents, a year earlier. LSI was expected to earn 18 cents, the average analyst estimate from First Call Corp. ''They did very well and it shows demand is increasing,'' said Hans Mosesmann, a Prudential Securities Inc. analyst, who has maintained his ''strong buy'' on LSI since mid-January. He now expects LSI shares to reach $70 in the next 12 months, up from his previous target price of $50. Many analysts, like Mosesmann, based their estimates on profit before expenses. He was expecting earnings of 18 cents, and some unpublished estimates were as high as 20 cents. LSI fell 9/16 to 49 11/16. Top Performer LSI makes custom semiconductors that can perform the functions of many chips. It also makes chips for Sony Corp.'s PlayStation video-game system. Like many chipmakers, LSI struggled for most of last year with a worldwide slowdown in demand. Now, semiconductor companies are benefiting from a global rebound, with chip sales expected to rise about 12 percent this year. LSI's share price reflects the rebound. The company's stock has more than tripled this year, making LSI the best-performing stock on the Standard & Poor's 500 Index. Chairman and Chief Executive Wilfred Corrigan told analysts on a conference that ''we expect to grow faster than the industry as a whole in the second half (of 1999).'' The company also plans to increase capacity at its plants and will boost its capital spending to $250 million from $200 million for the year. Net income in the recent quarter reflects amortization of goodwill and expenses related to LSI's $106 million purchases of Seeq Technology Inc. and closely held ZSP Corp. Jul/21/1999 17:13 For more stories from Bloomberg News, click here.

To: Ram Seetharaman who wrote (19450)	7/22/1999 9:53:00 AM
From: Moonray	Read Replies (2) \| Respond to of 25814

LSI Logic Corp. Reiterated 'Strong Buy' at Prudential Princeton, New Jersey, July 22 (Bloomberg Data) -- LSI Logic Corp. (LSI US) was reiterated ''strong buy'' by analyst Hans Mosesmann at Prudential Securities. The 12-month target price is $70.00 per share. LSI Logic Corp. Rated New 'Buy' at CSFB Princeton, New Jersey, July 22 (Bloomberg Data) -- LSI Logic Corp. (LSI US) was rated ''buy'' in new coverage by analyst Tim Mahon at Credit Suisse First Boston Inc. The 12-month target price is $65.00 per share. LSI Logic Corp. Reiterated 'Strong Buy' at Gruntal Princeton, New Jersey, July 22 (Bloomberg Data) -- LSI Logic Corp. (LSI US) was reiterated ''strong buy'' by analyst Mona Eraiba at Gruntal & Co. The 12-month target price is $80.00 per share. This stock was reiterated a ''strong buy'' on 7/21/99. o~~~ O