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

To: patrick tang who wrote (16915)	2/8/1999 2:50:00 PM
From: Moonray	Read Replies (1) \| Respond to of 25814

Upgrades boost chip stocks LSI Logic, Applied Materials among beneficiaries CBS MarketWatch - Last Update: 2:07 PM ET Feb 8, 1999 NEW YORK (CBS.MW) -- A series of upgrades on chip equipment makers lit a fire under semiconductor stocks Monday. Semiconductor equipment makers KLA-Tencor's (KLAC) and Applied Materials' (AMAT) stock ratings were both boosted to "strong buy" from "neutral" by Morgan Stanley Dean Wittier. In addition, Merrill Lynch upgraded the entire chip equipment sector, saying orders are increasing and capital expenditures, or major purchases, should rise 40 percent in 2000. "We think the current recovery in the semiconductor sector will expand," Merrill Lynch chip analyst Mark FitzGerald wrote in a note to clients. He upgraded Applied Materials, KLA-Tencor and Novellus Systems to "near-term buy" from "near-term accumulate." Applied Materials rose 2 3/16 to 62 7/8; KLA-Tencor advanced 2 1/8 to 56; and Novellus Systems (NVLS) gained 2 5/16 to 68 15/16. All of the stocks are members of the Philadelphia Semiconductor Index, which gained 1.5 percent Monday. FitzGerald also boosted Lam Research (LRCX) and Silicon Valley Group (SVGI) to "near-term" accumulate" from "near-term neutral." The stocks rose 7/8 to 35 15/16 and 1 3/4 to 16 15/16, respectively. Another index component is LSI Logic (LSI), which was raised to "strong buy" from "buy" by BancBoston Robertson Stephens analyst Daniel Niles. Niles said he sees a "very strong quarter developing." The company is "on track" to report first-quarter numbers higher than LSI's previous guidance, he said, citing the company's strong bookings in early February, which came on top of record-setting bookings in January. LSI Logic is a Milpitas, Calif.-based company that makes integrated circuits for digital video disc (DVD), digital broadcasting, personal entertainment and networking products, among other industries. The average estimate from analysts polled by First Call is for LSI to make 0 cents a share in its first quarter. Niles estimates it will lose 2 cents a share. Shares of LSI Logic gained 2 5/16, or 9.7 percent, to 26 1/8. o~~~ O