Robertson Stephens Raises Forecasts for Semiconductor Equipment Industry
SAN FRANCISCO, June 1 /PRNewswire/ -- Robertson Stephens Managing Director and Senior Semiconductor Equipment Analyst Sue Billat raised her capital spending forecasts for the semiconductor equipment industry.
``We are raising our semiconductor capital equipment spending forecasts for 2000 and 2001 based on the continued imbalance that we see in chip supply and demand,'' said Billat. ``In particular, we believe that a shortage of DRAMs is imminent and that this will drive a near term step up in capital equipment spending.''
``We are raising our forecast for front end equipment industry growth projection for 2000 and 2001 to 51 percent and 45 percent, from 43.5 percent and 35.8 percent, respectively,'' said Billat. ``By our estimates, this corresponds to front end equipment industry revenues of $15.2 billion in 2000 and $21.6 billion in 2001.''
``For the back end, we are maintaining our 45 percent growth estimate in 2000 and raising our growth projection for 2001 to 42 percent, from a range of 30 to 35 percent,'' said Billat. ``By our estimates, this corresponds to back end equipment industry revenues of $15.2 billion in 2000 and $21.6 billion in 2001.''
``We believe that continued shrinks and the adoption of new materials such as copper and low k dielectrics, and the transition to 300mm diameter wafers, will continue to drive equipment industry growth through 2001 and that steady increases in bookings will continue to support the stocks going forward,'' said Billat.
Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies. The market leader in technology IPOs, Robertson Stephens completed 103 deals in the US and Europe in the first quarter of 2000, valued at $40 billion, including 103 IPOs, follow-ons and convertibles. In addition, the firm completed 32 private placements in the first quarter and 37 M&A deals. In 1999, the firm completed 384 transactions, valued at $100 billion, including 233 IPOs, follow-ons and convertibles, 66 private placements and 85 M&A deals. The firm's 47 equity research analysts cover nearly 700 companies. Founded in 1978, Robertson Stephens (Legal name: FleetBoston Robertson Stephens Inc.) is a section 20 subsidiary of FleetBoston Financial Corporation (NYSE: FBF - news) and a member of the NASD and all major exchanges. Together, Robertson Stephens, FleetBoston Robertson Stephens International Ltd., and Robertson Stephens Evergreen Securities Ltd. has over 1,200 employees worldwide with offices in Boston, San Francisco, New York, Menlo Park, Chicago, Atlanta, London, Munich and Tel Aviv.
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