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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (3168)	7/30/1999 3:25:00 PM
From: Henry Eichorszt	Read Replies (1) \| Respond to of 5867

From SM-Chip issues regained some of their muscle, as Wall Street shrugged off the inflation worries that gripped yesterday's market. The biggest mover in the chip-equipment group was Lam Research which soared more than 15% at one point following its blowout fourth-quarter report yesterday after the close. "They entered the [industry] downturn like a lamb and exited like a tiger," said ABN AMRO's David Wu, a four-time Wall Street Journal All-Star analyst. Lam, a maker of wafer-fabrication equipment, earned 28 cents a share, more than double the 12 cents the Street was expecting. While revenue was slightly lower than a year ago, it improved 38% from the previous quarter, and signaled Lam's return to profitability. Wu said the company's strong orders drove the quarter's results. New orders increased from the previous quarter, with most coming from the North American and Asia Pacific regions. Wu upped his earning estimate by 70 cents to $3 for this year and by 50 cents to $3.50 for next year. He has had a Buy rating on Lam shares. "Obviously I thought they would have a good quarter, but I didn't know it would be this good," Wu said. Others were impressed as well. BancBoston Robertson Stephens reiterated its Strong Buy rating on the stock, while Goldman Sachs raised its rating to Recommended List from Market Outperform and upped its earnings estimate for this year by 70 cents to $2.55. MR