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Technology Stocks : Kulicke and Soffa -- Ignore unavailable to you. Want to Upgrade?

To: manohar kanuri who wrote (3267)	4/3/1999 8:00:00 PM
From: Darin	Read Replies (1) \| Respond to of 5482

Some interesting notes from Lehman: Kulicke & Soffa Industries (KLIC, 24 5/8, 3-Neutral) We expect orders to be higher than originally anticipated. Orders for bonders have picked up since the December quarter, and we are raising our order and book-to-bill estimates for the March quarter from $72.0M and 1.10 to $80.0M and 1.11, respectively. Management has more confidence that significant orders from large Taiwanese customers, such as ASE and Siliconware, will materialize this year. As of the company's last conference call, unit shipments of bonders were expected to be on the order of 500 units for the June quarter and 600 units for the September quarter. We now think that unit shipments could be as high as 600 units in the June quarter and 800-850 units in the September quarter, driving our revenue forecasts up 10%, and 30% for the June and September quarters, respectively. However, margin expansion may not be as robust, given that losses are expected to be incurred from the company's two recent acquisitions. We think that a series of upward Streetwide earnings estimate revisions could transpire as the year progresses. Peak EPS Estimates & Related Price Targets: "Room to Run!" Potential Price Discounted 12-Month Peak EPS Target 12-Month Current Appreciation 2002 2002 Target Price Potential AEIS $2.20 $ 50 $ 35 $ 26 35% AMAT $5.55 $144 $100 $ 64 56% EGLS $1.65 $ 25 $ 17 $ 13 31% ETEC $4.70 $ 94 $ 65 $ 47 38% FSII $1.45 $ 22 $ 14 $ 9 56% KLAC $4.40 $112 $ 78 $ 56 39% KLIC $3.25 $ 49 $ 33 $ 25 32% LRCX $3.70 $ 63 $ 40 $ 33 21% LTXX $0.60 $ 9 $ 5 $ 5 0% NVLS $4.85 $107 $ 62 $ 60 3% PRIA $3.90 $ 97 $ 67 $ 30 123% SVGI $2.15 $ 32 $ 19 $ 12 58% TER $5.50 $110 $ 76 $ 58 31%