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

To: All Mtn Ski who wrote (5003)	5/6/2004 1:02:48 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 5867

S&P has reiterated there rating on LRCX. << 05/05/04 03:25 pm EDT... S&P REITERATES ACCUMULATE SHARES OF LAM RESEARCH (<LRCX> 22.3****): We see semiconductor equipment industry sales growth of 40%-50% in calendar '04. We expect a good portion of this growth to be driven by sales to 300mm wafer fabs, for which LRCX is a leader. The stock was recently trading at 4.8X trailing 12-month sales, below peer average of 6.4X, and 21X our calendar '04 EPS estimate of $1.09. Applying a peer group P/E multiple of 30X to our calendar '04 EPS estimate, we are reducing our 12-month target price to $33 from $38. Allowing for a high beta and volatile stock price, we recommend accumulating the shares.>>