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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (11971)	10/6/2003 9:45:52 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95397

From Briefing.com: 8:48AM Silicon Image upgraded at Needham (SIMG) 5.18: Needham upgrades to Buy from Hold; even though the stock was up 20% on Friday following its Q3 shortfall, firm says the stock is still down more than 20% since mid-July and has significantly underperformed most chip stocks during the past year, and believes that there is still at least another 15-20% of upside if the co can put together a couple of good qtrs. Target is $6. 8:42AM Applied Materials rev estimate trimmed at BofA (AMAT) 19.46: Banc of America trims their Jan qtr rev guidance to $1.19 bln from $1.25 bln, vs consensus of $1.25 bln, to reflect a more modest ramp in revs over the next several qtrs; firm says the improvement in new orders is not translating into an immediate ramp in revs, and notes that some of the large new orders such as Inotera and SMIC have delivery dates that stretch into the middle of 2004; however, firm says ongoing cost cuts will likely provide better leverage, and raises their FY04 EPS est to $0.50 from $0.49 (consensus $0.46). Firm says the stock is expensive, and says 2004 EPS ests must double to support a higher target price (current target is $19). 7:59AM ATMI guides Q3 below consensus (ATMI) 27.52: Company warns for Q3, now sees loss of $0.33-0.36, including up to $0.25 charge for write down, or a pro forma loss of up to $0.08-0.11 (excluding ex items), vs the Reuters Research consensus of $0.02. Co also attributes shortfall to lower-than-expected Q3 revenues of $58 mln vs the consensus of $63.75 mln. "During the quarter, the Company experienced a continued slowness in its Technologies businesses. At the same time, our Materials businesses did not perform as expected because of a number of timing issues." 7:22AM Motorola plans to spin off Semiconductor ops into a publicly traded company (MOT) 12.28: CEO Christopher Galvin announces that the company intends to separate its semiconductor operations into a publicly traded company. This action reflects Motorola's intention to increase its focus on communications and integrated electronic systems, as well as create an exciting opportunity for the company's Semiconductor Products Sector (SPS) as an independent semiconductor company with its own focused strategy. Motorola has not finalized details of the transaction. With its own publicly traded equity, SPS will have the opportunity to pursue acquisitions, should it so choose, of additional strategic product lines and technology using semiconductor equity valuations instead of the blended equity valuation of Motorola. In addition, the semiconductor industry cycle appears to be in an upswing. MOT will hold a conference call this morning: dial-in number for analysts and media is 210-839-8960. :21AM CSFB upgrades Celestica, Sanmina-SCI : CSFB upgrades CLS to Outperform from Neutral and raises their target to $22 from $16, citing the co's strong positioning for a possible budget flush in Q4 and increasing enterprise spending in 2004; with strong franchises at IBM, HPQ, and EMC and growing momentum with CSCO, firm says CLS is perhaps best positioned among the tier-1 EMS suppliers to monetize this recovery, and notes that the co's restructuring is largely complete. In addition, firm upgrades SANM to Neutral from Underperform; while firm remains cautious on the long-term viability of SANM's PC biz (at almost 40% of revs) and says the stock's valuation is rich, in the near-term the co is benefiting from one of the stronger tech segments this year; target is $10. 7:19AM Knight Trading guides Q3 above consensus (NITE) 12.10: Company issues upside preannouncement for Q3 (Sep), now sees GAAP EPS of $0.16-0.21 vs the Reuters Research consensus of $0.11. Co cites improving market volumes and the progress NITE has made in all parts of its business as primary reasons for stronger-than-expected results. finance.yahoo.com