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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 (5347)	7/21/2005 11:42:48 AM
From: All Mtn Ski	Read Replies (2) \| Respond to of 5867

Ouch on whomever made those AH purchases above $33...... Morgan Stanley maintained an "underweight" rating and $25 price target on Lam Research (nasdaq: LRCX - news - people ) after the company posted fiscal fourth-quarter results. "A no-surprises quarter was 'as expected'," said the research firm. However, Morgan Stanley lowered its 2006 and 2007 earnings estimates. "Lam introduced an update to its financial model to reflect higher R&D spending driven by new product development. In addition, the company outlined the impact of employee stock options expenses." According to the research firm, both of these actions will raise Lam's operating breakeven point to $210 million per quarter. Morgan Stanley cut 2006 and 2007 earnings-per-share estimates to $1.17 and $1.46, respectively, down from $1.40 and $1.71. "We think investors are likely to be comfortable with Lam’s earnings report." Morgan Stanley believes that the company is spending approximately $10 million on new product development for new markets. "While historically such efforts have not been successful, we think the amount of money being invested is relatively modest." Elsewhere in the semiconductor capital equipment space, Morgan Stanley has an "overweight" rating on KLA-Tencor (nasdaq: KLAC - news - people ). forbes.com