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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 (2819)	5/5/1999 2:01:00 PM
From: Duker	Read Replies (1) \| Respond to of 5867

~1B in revs, excluding CMP. So, call the cash and debt neutral. Use the 43.2mm shares and equivalents ... $31 x 43.2mm = $1.339mm divided by $1,000 = 1.34x's or a 10.7% discount to your 1.5x number. <vbg> --Duker P.S., I do not think that $1bn is a bad number ... also, using 43.2mm is not necessarily correct (given that I have assumed cash negates the convert -- which it does when you use restricted cash ... therefore, you should use 39.5mm shares which would make the EV/Sales 1.22x's ... or a 18.7% discount to the 1.5x's... without a penny from TERES ... needless to say BK, I am bored!!!).