Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Darryl Olson who wrote (23591)	11/11/1999 4:31:00 PM
From: Darryl Olson	Respond to of 25960

Chip stocks in rally mode Merrill Lynch ups price target on 11 chip companies By Janet Haney, CBS MarketWatch Last Update: 2:29 PM ET Nov 11, 1999 Silicon Stocks Hardware Report SAN FRANCISCO (CBS.MW) -- Semiconductor stocks have been on a rampage most of the week, and the Philadelphia Semiconductor Index hit another new high Thursday, aided by positive comments from Merrill Lynch. The Philadelphia Semiconductor Index (SOX: news, msgs), which tracks 16 chip manufacturers and chip-equipment makers, gained 1.5 percent to 650.39, easily holding above the 600 mark for the sixth straight day. The index has risen nearly 86 percent this year. Analyst Joe Osha of Merrill Lynch raised his price target on 11 semiconductor companies Thursday. Among them were Texas Instruments (TXN: news, msgs), whose price outlook was upped to $125 from $110 a share, and Linear Technology (LLTC: news, msgs), which had its price target moved to $90 from $70. LSI Logic (LSI: news, msgs) shares jumped 3 3/8 to 64 1/8, a new 52-week high, on news of its new price objective of $73, up from $62. "We continue to believe that we are at the beginning of a three- to five-year upturn in the semiconductor market," Osha wrote in a research note. "In this environment, semiconductor prices have much further to go." He also upped his 2000 revenue-growth expectation on the chip industry to 21.5 percent from 18.6 percent, with an integrated-circuit sales projection of 22.7 percent. Other names on Osha's list: Analog Devices (ADI: news, msgs), Broadcom (BRCM: news, msgs), PMC-Sierra (PMCS: news, msgs), Conexant (CNXT: news, msgs) and Vitesse Semiconductor (VTSS: news, msgs). Meanwhile, Lattice Semiconductor (LSCC: news, msgs) gained 1 1/8 to 46 1/4, hitting a new high, after Robertson Stephens started coverage on the company with a "buy" rating, as well as a $70 price target. Additionally, chip-equipment makers Applied Materials (AMAT: news, msgs), KLA-Tencor (KLAC: news, msgs), Teradyne (TER: news, msgs) and Novellus (NVLS: news, msgs) squashed their previous 52-week highs Thursday. Janet Haney is an online reporter for CBS MarketWatch.