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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (1074)	4/25/2014 11:18:01 AM
From: Kirk ©	1 Recommendation Recommended By Gottfried Respond to of 26758

Worldwide semiconductor capital equipment spending to increase 12.2% in 2014, says Gartner Worldwide semiconductor capital equipment spending is projected to total US$37.5 billion in 2014, an increase of 12.2% from 2013 spending of US$33.5 billion, according to Gartner. Capital spending will increase 5.5% in 2014 as the industry begins to recover from the recent economic downturn and total spending will follow a generally increasing pattern in all sectors through 2018. "While capital spending outperformed wafer fab equipment (WFE) spending in 2013, the reverse will hold for 2014," said Bob Johnson, research VP at Gartner. "Total capital spending will grow by 5.5%, while WFE will increase 13% as manufacturers pull back on new fab construction and concentrate in ramping new capacity instead. Momentum from exceptionally strong fourth-quarter 2013 sales is carried forward into the first quarter, then is expected to bounce around a flat trend line through the remainder of 2014. In the longer-term profile, growth continues through 2015, dips slightly in 2016 and increases through 2018." Logic spending remains the key driver of capital spending throughout the forecast period, but due to the anticipated softening of mobile markets it will grow less than memory. Memory will provide most of the growth in capital spending through 2018, with NAND Flash being the primary impetus. Capital spending is highly concentrated among a handful of companies. The top three companies (Intel, TSMC and Samsung) continue to account for more than half of total spending. Spending by the top five semiconductor manufacturers exceeds 64% of total projected 2014 spending, with the top 10 accounting for 78% of the total, said Gartner. Gartner added it predicts that 2014 semiconductor capital spending will increase 5.5%, followed by 10% growth in 2015. The next cyclical decline will be a slight drop of 3.3% in 2016, followed by a return to growth in 2017 and 2018. Semiconductor inventories combined with overall market weakness depressed utilization rates at the end of 2013. Although demand from smartphones and media tablets is producing leading-edge demand for logic production, it is not enough to bring total utilization up to desired levels. Gartner expects utilization rates to climb upward again in 2014, as demand for chip production returns, and overall utilization rates will return to normal levels through 2014, providing continued impetus for capital investment. Overall wafer fab manufacturing capacity utilization responded to increasing inventories at the end of 2013 by staying in the low-80% range at the end of 2013. In 2014, a return to more normal inventory levels will propel overall utilization of almost 90% by year end. Leading-edge utilization will remain in the mid-90% range through 2014, providing for a positive capital investment environment. The capital spending forecast estimates total capital spending from all forms of semiconductor manufacturers, including foundries and back-end assembly and test services companies. This is based on the industry's requirements for new and upgraded facilities to meet the forecast demand for semiconductor production. Capital spending represents the total amount spent by the industry for equipment and new facilities. The WFE forecast estimates market revenues based on future global sales of the equipment needed to produce the wafers on which semiconductor devices are fabricated. WFE demand is a function of the number of fabs in operation, capacity utilization, their size and their technology profile, added Gartner. DIGITIMES ICs & Memory daily news Friday 25 April 2014 To unsubscribe from this service, please see below. News website: www.digitimes.com

To: Gottfried who wrote (1074)	4/30/2014 11:23:28 AM
From: Kirk ©	1 Recommendation Recommended By Gottfried Respond to of 26758

One of my favorite and most successful stocks, LRCX, announced a dividend. I announced buying it here on SI in 1998 even before I had a newsletter. I put about a month's pay into it at about $3 if I recall. Sept 1998 Posts: Message 5700981 and Message 5651703 I started my newsletter Sept 30. 1998 with LRCX shortly after making those posts about buying with my own money... I sure wish ALL my investments worked out half as well as Lam! Lam Research Corporation Announces $1.0 Billion Capital Return Program FREMONT, CA--(Marketwired - Apr 29, 2014) - Lam Research Corporation (NASDAQ: LRCX) Initiates quarterly dividend of $0.18 per shareAnnounces $850 million share repurchase authorizationLam Research Corporation (NASDAQ: LRCX) today announced that its Board of Directors has approved a $1.0 billion capital return program with the initiation of the company's first ever quarterly dividend and an $850 million share repurchase authorization with execution currently planned over the next two year timeframe. The company plans to declare a quarterly dividend of $0.18 per share of common stock equivalent to an annual yield of approximately 1.27% based on the April 28, 2014 closing stock price of $56.52. On an annualized basis, this will return approximately $117 million to shareholders based on shares outstanding as of March 30, 2014. The first dividend payment has been declared and will be made on July 2, 2014 to holders of record on June 11, 2014. Future dividend payments are subject to review and approval by the Board. Additionally, the company is authorized to repurchase up to $850 million of common stock, which includes approximately $49 million available under the company's prior authorization in the amount of $250 million. Repurchases may be made through both public market and private transactions, and may include the use of derivative contracts and structured share repurchase agreements. The share repurchase program may be suspended or discontinued at any time and does not have a set expiration. "Our Board's decision to support the $1 billion capital return program demonstrates their confidence in our financial growth and strong cash generation," stated Martin Anstice, president and chief executive officer of Lam Research. "The quarterly dividend augments our larger share repurchase program and demonstrates our ongoing commitment to return excess capital to our shareholders while enhancing value," Anstice concluded. Caution Regarding Forward-Looking Statements Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to, our plans execute a share repurchase authorization, our plans to declare dividends, our financial growth and cash generation, and our commitment to return excess capital to our shareholders while enhancing value. These forward-looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect, our continued financial health and ability to pay dividends and make share repurchases, and other risks detailed in documents filed by us with the Securities and Exchange Commission, including specifically our report on Form 10-K for the year ended June 30, 2013 and Forms 10-Q for the three months ended September 29, 2013 and December 29, 2013. These uncertainties and changes could cause actual results to vary from expectations. The Company undertakes no obligation to update the information or statements made in this press release. About Lam Research: Lam Research Corp. (NASDAQ: LRCX) is a trusted global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's broad portfolio of market-leading deposition, etch, strip, and wafer cleaning solutions helps customers achieve success on the wafer by enabling device features that are 1,000 times smaller than a grain of sand, resulting in smaller, faster, and more power-efficient chips. Through collaboration, continuous innovation, and delivering on commitments, Lam is transforming atomic-scale engineering and enabling its customers to shape the future of technology. Based in Fremont, Calif., Lam Research is an S&P 500® company whose common stock trades on the NASDAQ® Global Select Market™ under the symbol LRCX. For more information, please visit ctt.marketwire.com. Contact: Company Corporate Communications: Kyra Whitten 510/572-5241 e-mail: kyra.whitten@lamresearch.com Investor Relations: Shanye Hudson 510/572-4589 e-mail: shanye.hudson@lamresearch.com