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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Wolf 2 who wrote (16732)	1/29/1999 10:58:00 AM
From: Moonray	Respond to of 25814

LSI Logic <LSI.N> rises on strong Q4 results NEW YORK, Jan 29 (Reuters) - Shares of LSI Logic rose 12 percent Friday on better-than-expected fourth quarter profits, driven by a jump in revenues, analysts said. Shares of LSI rose 2-3/8 to 26-5/8 in early trade on Friday. Late on Thursday, the chip maker reported fourth quarter earnings before special items at $0.05 a share, better than the loss of $0.03 expected by Wall Street. Milpitas, Calif.-based LSI's revenues jumped to $445 million in the fourth quarter, an increase of 38 percent over the $323 million in revenues in the year-ago period. Credit Suisse First Boston analyst, Scott Nirenberski, upgraded his rating on shares of LSI Logic to buy from hold, and set a 12-month price target of $35. He noted that LSI, which reported sequential bookings increases in its computer, telecommunications-wireless, networking, and storage components businesses, is making progress toward its goal of 20 percent long-term operating margin. He cut his 1999 earnings per share estimate to $0.70 a share from $0.74, and initiated a 2000 estimate of $1.75. BT Alex. Brown said it raised its rating to strong buy from market performer. ((-- Wall Street Desk, 212-859-1730)) REUTERS Rtr 10:39 01-29-99 o~~~ O