Maxim Integrated Products Inc. (NASDAQ: MXIM), Ball (NYSE: BLL), Crown Cork & Seal (NYSE: CCK), Lam Research (NASDAQ: LRCX), Alexion Pharmaceuticals (NASDAQ: ALXN) and Progress Energy (NYSE: PGN) ratings and price targets.
Maxim Integrated Products (MXIM) had its “Buy” rating reiterated by Nomura (NYSE:NMR).
Wells Fargo & Co. (NYSE:WFC) initiated coverage on Ball (BLL). They placed an “Outperform” rating on the company.
Wells Fargo & Co. initiated coverage on Crown Cork & Seal (CCK). They placed an “Outperform” rating on the company.
Lam Research (LRCX) had its price target raised by Citigroup (NYSE:C) from $48.00 to $64.00.
Alexion Pharmaceuticals (ALXN) had its price target raised by Oppenheimer (NYSE:OPY) from $75.00 to $84.00. They have an "Outperform” rating on the company.
Progress Energy (PGN) had its price target raised by Wunderlich from $47.00 to $56.00. They have a “Hold” rating on the company.
Showing posts with label Lam Research. Show all posts
Showing posts with label Lam Research. Show all posts
Wednesday, January 25, 2012
Friday, July 29, 2011
Amdocs (DOX) (DOW) (EQIX) (GLW) (IACI) (LRCX) (LSI) Price Targets Changed
The Dow Chemical Company (NYSE: DOW), Amdocs Limited (NYSE: DOX), Equinix, Inc. (NASDAQ: EQIX), Corning Inc. (NYSE: GLW), InterActiveCorp (NASDAQ: IACI), Lam Research Co. (NASDAQ: LRCX) and LSI Co. (NYSE: LSI) price targets adjusted by analysts.
The Dow Chemical Company (DOW) had its price target lowered by Deutsche Bank (NYSE:DB) from $44.00 to $38.00. They have a “Hold” rating on the company.
Amdocs Limited (DOX) had its price target raised by UBS AG (NYSE:UBS) from $33.00 to $35.00. They have a “Buy” rating on the company.
Equinix, Inc. (EQIX) had its price target raised by Stifel Nicolaus from $120.00 to $130.00. They have a “Buy” rating on the company.
Corning Inc. (GLW) had its price target lowered by Citigroup (NYSE:C) to $18.00. They have a “Hold” rating on the company.
InterActiveCorp (IACI) had its price target raised by Oppenheimer to $53.00.
Lam Research Co. (LRCX) had its price target cut by Stifel Nicolaus from $64.00 to $60.00. They have a “Buy” rating on the company.
LSI Co. (LSI) had its price target raised by Barclays Capital to $8.00. They have an “Equal Weight” rating on the company.
The Dow Chemical Company (DOW) had its price target lowered by Deutsche Bank (NYSE:DB) from $44.00 to $38.00. They have a “Hold” rating on the company.
Amdocs Limited (DOX) had its price target raised by UBS AG (NYSE:UBS) from $33.00 to $35.00. They have a “Buy” rating on the company.
Equinix, Inc. (EQIX) had its price target raised by Stifel Nicolaus from $120.00 to $130.00. They have a “Buy” rating on the company.
Corning Inc. (GLW) had its price target lowered by Citigroup (NYSE:C) to $18.00. They have a “Hold” rating on the company.
InterActiveCorp (IACI) had its price target raised by Oppenheimer to $53.00.
Lam Research Co. (LRCX) had its price target cut by Stifel Nicolaus from $64.00 to $60.00. They have a “Buy” rating on the company.
LSI Co. (LSI) had its price target raised by Barclays Capital to $8.00. They have an “Equal Weight” rating on the company.
Thursday, July 14, 2011
Netflix (NFLX) (LRCX) (AAPL) (BRCM) (CPB) Price Targets Changed
Netflix, Inc. (NASDAQ: NFLX), Lam Research Co. (NASDAQ: LRCX), Apple, Inc (NASDAQ: AAPL), Broadcom Corp (NASDAQ: BRCM) and Campbell Soup Company (NYSE: CPB) had price targets adjusted by analysts.
BMO Capital Markets boosted its price target on Netflix, Inc. (NFLX) to $280.00. They have a “Market Perform” rating on the company.
UBS AG (NYSE:UBS) slashed its price target on Lam Research Co. (LRCX) to $55.00. They have a “Buy” rating on the company.
Citigroup (NYSE:C) raised its price target on Apple, Inc (AAPL) to $450.00. They have a “Buy” rating on the company.
Auriga lowered its price target on Broadcom Corp (NASDAQ: BRCM) from $47.00 to $41.00. They have a "Buy" rating on the company.
JPMorgan Chase & Co. (NYSE:JPM) increased its price target on Campbell Soup Company (CPB) to $35.00.
BMO Capital Markets boosted its price target on Netflix, Inc. (NFLX) to $280.00. They have a “Market Perform” rating on the company.
UBS AG (NYSE:UBS) slashed its price target on Lam Research Co. (LRCX) to $55.00. They have a “Buy” rating on the company.
Citigroup (NYSE:C) raised its price target on Apple, Inc (AAPL) to $450.00. They have a “Buy” rating on the company.
Auriga lowered its price target on Broadcom Corp (NASDAQ: BRCM) from $47.00 to $41.00. They have a "Buy" rating on the company.
JPMorgan Chase & Co. (NYSE:JPM) increased its price target on Campbell Soup Company (CPB) to $35.00.
Thursday, May 19, 2011
Ratings Cuts on Intel (INTC) (KLAC) (AMAT)
The overall semiconductor sector is taking a big hit today, led by the downgrade by Goldman Sachs (NYSE:GS) of Intel Corp. (NASDAQ:INTC), and followed up with rating cuts on Applied Materials (NASDAQ:AMAT) and KLA Tencor (NASDAQ:KLAC).
Interestingly, Lam Research (NASDAQ:LRCX) had its rating boosted by Goldman.
Goldman analyst James Covello asserts that processor shipments will drop in 2011, affecting the outlook of Intel. He sees higher inventory which he identifies from cuts in orders at processor packaging companies.
Covello also see much higher input costs than the Street in general is taking into account. Consensus is at about 5 percent while Covello isse 15 percent being a more realistic number.
Citing 2005 as a model, Covello noted that when capex was up then, the following year selling prices dropped by 11 percent. He believes that will probably happen again in 2012 after heavy spending by Intel.
As for Intel's tablet challenge, he said this:
"Our estimate that Apple has a $60 to $70 cost of materials advantage over competitors given its scale in purchasing commodities such as NAND flash, and Apple’s large installed base of users of its apps store and iTunes, which in conjunction with its cost advantage allows Apple to price tablets aggressively and monetize the device through content sales."
In other words, Apple will own tablets for some time.
For makers of chip equipment, they are expected to slow down in order over the next year-and-a-half. Covello has an overall "Cautious" on the sector after downgrading it to a "Neutral" in the early part of 2011.
He concluded that “the cost to build more wafers is irrelevant for wafers that are not built because customers already have too much capacity.”
Covello lowered his rating on Applied Materials from "Buy" to "Neutral," and for KLAC from "Neutral" to "Sell."
His reason for upgrading Lam from a "Neutral" to "Buy" was because it receives 85 percent of its business from memory chip foundries at any time, which is projected to rise 10 percent over the next year. Lam also doesn't have as much exposure to Intel as Applied and KLA has.
Intel was trading at $23.46, falling $0.42, or 1.76 percent, as of 1:38 PM EDT. Applied Materials was at $14.27, down $0.23, or 1.59 percent. KLA-Tencor Corporation was trading at $41.08, dropping $1.75, or 4.09 percent. Lam Research was at $46.66, down $0.52, or 1.10 percent.
Interestingly, Lam Research (NASDAQ:LRCX) had its rating boosted by Goldman.
Goldman analyst James Covello asserts that processor shipments will drop in 2011, affecting the outlook of Intel. He sees higher inventory which he identifies from cuts in orders at processor packaging companies.
Covello also see much higher input costs than the Street in general is taking into account. Consensus is at about 5 percent while Covello isse 15 percent being a more realistic number.
Citing 2005 as a model, Covello noted that when capex was up then, the following year selling prices dropped by 11 percent. He believes that will probably happen again in 2012 after heavy spending by Intel.
As for Intel's tablet challenge, he said this:
"Our estimate that Apple has a $60 to $70 cost of materials advantage over competitors given its scale in purchasing commodities such as NAND flash, and Apple’s large installed base of users of its apps store and iTunes, which in conjunction with its cost advantage allows Apple to price tablets aggressively and monetize the device through content sales."
In other words, Apple will own tablets for some time.
For makers of chip equipment, they are expected to slow down in order over the next year-and-a-half. Covello has an overall "Cautious" on the sector after downgrading it to a "Neutral" in the early part of 2011.
He concluded that “the cost to build more wafers is irrelevant for wafers that are not built because customers already have too much capacity.”
Covello lowered his rating on Applied Materials from "Buy" to "Neutral," and for KLAC from "Neutral" to "Sell."
His reason for upgrading Lam from a "Neutral" to "Buy" was because it receives 85 percent of its business from memory chip foundries at any time, which is projected to rise 10 percent over the next year. Lam also doesn't have as much exposure to Intel as Applied and KLA has.
Intel was trading at $23.46, falling $0.42, or 1.76 percent, as of 1:38 PM EDT. Applied Materials was at $14.27, down $0.23, or 1.59 percent. KLA-Tencor Corporation was trading at $41.08, dropping $1.75, or 4.09 percent. Lam Research was at $46.66, down $0.52, or 1.10 percent.
Ratings on (BP) (BRS) (CNW) (LRCX) (NRP) Upgraded
Ratings on shares of BP PLC (NYSE: BP), Bristow Group Inc. (NYSE: BRS), Con-way Inc. (NYSE: CNW), Lam Research Co. (NASDAQ: LRCX) and Natural Resource (NYSE: NRP) upgraded by analysts.
Bank of America (NYSE:BAC) upgraded shares of BP PLC (BP) from a “neutral” rating to a “buy” rating.
Credit Suisse (NYSE:CS) upgraded Bristow Group Inc. (BRS) from a “neutral” rating to an “outperform” rating.
Stifel Nicolaus upgraded Con-way Inc. (CNW) from a “hold” rating to a “buy” rating. They have a price target of $46.00 on the company.
Goldman Sachs (NYSE:GS) upgraded Lam Research Co. (LRCX) from a “neutral” rating to a “buy” rating.
UBS AG (NYSE:UBS) upgraded Natural Resource (NRP) from a “neutral” rating to a “buy” rating.
Bank of America (NYSE:BAC) upgraded shares of BP PLC (BP) from a “neutral” rating to a “buy” rating.
Credit Suisse (NYSE:CS) upgraded Bristow Group Inc. (BRS) from a “neutral” rating to an “outperform” rating.
Stifel Nicolaus upgraded Con-way Inc. (CNW) from a “hold” rating to a “buy” rating. They have a price target of $46.00 on the company.
Goldman Sachs (NYSE:GS) upgraded Lam Research Co. (LRCX) from a “neutral” rating to a “buy” rating.
UBS AG (NYSE:UBS) upgraded Natural Resource (NRP) from a “neutral” rating to a “buy” rating.
Wednesday, May 4, 2011
Coverage On (JPM) (LRCX) (MS) (MYGN) (RUE) Initiated by Analysts
Analysts have initiated coverage on JPMorgan Chase & Co. (NYSE: JPM), Lam Research Co. (NASDAQ: LRCX), Morgan Stanley (NYSE: MS), Myriad Genetics (NASDAQ: MYGN) and Rue21 (NYSE: RUE).
UBS AG (NYSE:UBS) initiated coverage on JPMorgan Chase & Co. (JPM). They placed a “buy” rating and a price target of $54.00 on the company.
Standpoint Research initiated coverage on Lam Research Co. (LRCX). They placed a “buy” rating and a price target of $60.00 on the company.
UBS AG initiated coverage on Morgan Stanley (MS). They placed a “neutral” rating and a price target of $28.00 on the company.
Auriga initiated coverage on Myriad Genetics (MYGN). They placed a “buy” rating and a price target of $27.00 on the company.
FBR Capital initiated coverage on Rue21 (RUE). They placed a “market perform” rating and a price target of $26.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on JPMorgan Chase & Co. (JPM). They placed a “buy” rating and a price target of $54.00 on the company.
Standpoint Research initiated coverage on Lam Research Co. (LRCX). They placed a “buy” rating and a price target of $60.00 on the company.
UBS AG initiated coverage on Morgan Stanley (MS). They placed a “neutral” rating and a price target of $28.00 on the company.
Auriga initiated coverage on Myriad Genetics (MYGN). They placed a “buy” rating and a price target of $27.00 on the company.
FBR Capital initiated coverage on Rue21 (RUE). They placed a “market perform” rating and a price target of $26.00 on the company.
Tuesday, May 3, 2011
Techs (QCOM) (MU) (CSCO) (LRCX) (AMD) (ORCL) (BRCM) (NVDA) Getting Crushed Today
Shares of tech companies are taking a beating today on weakness in the semiconductor sector, as Lam Research (NASDAQ:LRCX), Micron Technology (NASDAQ:MU), Advanced Micro Devices (NYSE:AMD), Oracle (NASDAQ:ORCL), Broadcom (NASDAQ:BRCM), Cisco (NASDAQ:CSCO) and Qualcomm (NASDAQ:QCOM) were all trading down.
That has also driven down the Nasdaq Composite today, which was also hit by the plunge in share price of Sears Holdings (NASDAQ:SHLD), which has plummeted almost 10 percent after weak guidance.
As for the chip and tech sector, most of that is being driven by chatter about the probability of the chip industry being spotty going forward, which will slow down a lot of chip companies, and by extension, other tech companies.
Intel (NASDAQ:INTC) and Microsoft managed to trade in positive territory among tech stocks today.
That has also driven down the Nasdaq Composite today, which was also hit by the plunge in share price of Sears Holdings (NASDAQ:SHLD), which has plummeted almost 10 percent after weak guidance.
As for the chip and tech sector, most of that is being driven by chatter about the probability of the chip industry being spotty going forward, which will slow down a lot of chip companies, and by extension, other tech companies.
Intel (NASDAQ:INTC) and Microsoft managed to trade in positive territory among tech stocks today.
Thursday, April 7, 2011
Earthquake Rattles (LRCX) (KLAC) (AMAT) (VSEA)
Shares of Lam Research Corp. (LRCX), KLA-Tencor Corp. (KLAC), Applied Materials Inc. (AMAT), and Varian Semiconductor Equipment Associates Inc. (VSEA) are all under heavy pressure today from the effects of the response to another earthquake in Japan.
This time it was a magnitude-7.4 earthquake, which also had a tsunami warning included with it. It was in the area that experienced the carnage from the 8.9 earthquake on March 11.
The broader market and other tech companies did reverse direction on the day after the news came out that there was another earthquake, dropping, while others somewhat shrugged off the news.
Varian Semiconductor Equipment Associates Inc. was trading at $46.88, falling $1.91, or 3.91 percent, as of 12:42 PM EDT. Applied Materials Inc. was trading at $15.52, down $0.23, or 1.46 percent. KLA-Tencor Corp. was at $44.49, dropping $1.68, or 3.64 percent. Lam Research Corp. was at $53.95, down $2.37, or 4.21 percent.
This time it was a magnitude-7.4 earthquake, which also had a tsunami warning included with it. It was in the area that experienced the carnage from the 8.9 earthquake on March 11.
The broader market and other tech companies did reverse direction on the day after the news came out that there was another earthquake, dropping, while others somewhat shrugged off the news.
Varian Semiconductor Equipment Associates Inc. was trading at $46.88, falling $1.91, or 3.91 percent, as of 12:42 PM EDT. Applied Materials Inc. was trading at $15.52, down $0.23, or 1.46 percent. KLA-Tencor Corp. was at $44.49, dropping $1.68, or 3.64 percent. Lam Research Corp. was at $53.95, down $2.37, or 4.21 percent.
Tuesday, April 5, 2011
Semis (INTC) (NVDA) (LRCX) (AMAT) (AMD) (MU) (CRUS) Crunched on Rising Japan Fears
Fears a shortage of chips could dramatically have an negative effect on the semiconductor sector had shares of Intel (NASDAQ:INTC), Cirrus Logic (NASDAQ:CRUS), Nvidia (NASDAQ:INTC), Lam Research (NASDAQ:LRCX), Applied Materials (NASDAQ:AMAT), Micron ((NASDAQ:MU) and AMD (NYSE:AMD) all end down on Monday, and they should remain under pressure for some time because of the uncertainty surrounding supply.
Research firm Gartner noted, “Clearly, there are some material supply challenges ahead of the industry in the aftermath of the tragic events in Japan.”
With the Semiconductor Industry Association reported a drop in worldwide chip sales in February compared with the January, there's a question as to whether or not Japan is the only reason for the slowdown, although February is a short month, which may be a contributing factor.
Intel closed Monday at $19.49, dropping $0.23, or 1.17 percent. Applied Materials closed at $15.40, falling $15.40, losing $0.13, or 0.84 percent. Micron closed at $11.19, down $0.11, or 0.97 percent. Applied Micro Devices ended the session at $15.40, losing 0.13, or 0.84 percent. Lam Research closed at $54.90, dropping $1.41, or 2.50 percent. Cirrus Logic fell to $19.65, down $0.69, or 3.39 percent. Nvidia closed down at $17.55, losing 0.65, or 3.57 percent.
Research firm Gartner noted, “Clearly, there are some material supply challenges ahead of the industry in the aftermath of the tragic events in Japan.”
With the Semiconductor Industry Association reported a drop in worldwide chip sales in February compared with the January, there's a question as to whether or not Japan is the only reason for the slowdown, although February is a short month, which may be a contributing factor.
Intel closed Monday at $19.49, dropping $0.23, or 1.17 percent. Applied Materials closed at $15.40, falling $15.40, losing $0.13, or 0.84 percent. Micron closed at $11.19, down $0.11, or 0.97 percent. Applied Micro Devices ended the session at $15.40, losing 0.13, or 0.84 percent. Lam Research closed at $54.90, dropping $1.41, or 2.50 percent. Cirrus Logic fell to $19.65, down $0.69, or 3.39 percent. Nvidia closed down at $17.55, losing 0.65, or 3.57 percent.
Monday, March 28, 2011
Chips Pushing Novellus (NVLS), (NETL) (ALTR), (AMSL), (ADI), (LRCX) toward New Highs
Altera (NASDAQ:ALTR), ASML (NASDAQ:AMSL), Analog Devices (NYSE:ADI), Lam Research (NASDAQ:LRCX), NetLogic (NASDAQ:NETL) and Novellus (NASDAQ:NVLS) are all being pushed towards new highs, as VCs pour money into social networks, mobile connectivity, the Cloud and energy efficiency, demand for chips old and new is back, leading the electronic components and capital equipment sectors to a strong growth path. They were already turning back to the plus column last fall as a mild inventory adjustment was quickly bracketed.
Applied Materials (NASDAQ:AMAT) just concluded its annual analyst meeting in New York ringing a bullish note for the next several years’ outlook for highly sophisticated, ultra complex machines sold to Intel (NASDAQ:INTC), Samsung, TSMC and other global chipmakers. Echoing ASML CEO Eric Meurice’s remarks three weeks ago, Applied’s head said rising chip complexity, raw unit demand and a decade of underinvestment meant an above trend outlook for his company this year and next. After years of underperforming, such public confidence suggests something big is on the way at the world’s largest semiconductor equipment supplier.
Long lagging Micron Technology (NASDAQ:MU) just reported a couple of pennies in profit in its typically seasonally weak second fiscal quarter, notable because it’s the first time since the company’s magnificent 1990s run that it hasn’t lost money in the trough of the highly volatile dynamic random-access memory (DRAM) pricing cycle and also because it is now positioned to cash in on booming NAND Flash demand. The opposite of Wall Street’s purported glut, Apple’s iPad (NASDAQ:AAPL) refresh is elevating this newly ubiquitous form factor to Olympian proportion, drawing millions of new users into its Smartphone and PC ecosystems at the same time AT&T upgrades its network through a wireless carrier megadeal. Memory chips are one of the key winners.
Source
Applied Materials (NASDAQ:AMAT) just concluded its annual analyst meeting in New York ringing a bullish note for the next several years’ outlook for highly sophisticated, ultra complex machines sold to Intel (NASDAQ:INTC), Samsung, TSMC and other global chipmakers. Echoing ASML CEO Eric Meurice’s remarks three weeks ago, Applied’s head said rising chip complexity, raw unit demand and a decade of underinvestment meant an above trend outlook for his company this year and next. After years of underperforming, such public confidence suggests something big is on the way at the world’s largest semiconductor equipment supplier.
Long lagging Micron Technology (NASDAQ:MU) just reported a couple of pennies in profit in its typically seasonally weak second fiscal quarter, notable because it’s the first time since the company’s magnificent 1990s run that it hasn’t lost money in the trough of the highly volatile dynamic random-access memory (DRAM) pricing cycle and also because it is now positioned to cash in on booming NAND Flash demand. The opposite of Wall Street’s purported glut, Apple’s iPad (NASDAQ:AAPL) refresh is elevating this newly ubiquitous form factor to Olympian proportion, drawing millions of new users into its Smartphone and PC ecosystems at the same time AT&T upgrades its network through a wireless carrier megadeal. Memory chips are one of the key winners.
Source
Thursday, January 27, 2011
Netflix (Nasdaq:NFLX), Qualcomm (Nasdaq:QCOM) Push Tech Up
Strong earnings results from Netflix (Nasdaq:NFLX) and Qualcomm (Nasdaq:QCOM) have the tech sector rocking today, although others in tech like Motorola Mobility Holdings (NYSE:MMI), Nokia (NYSE:NOK) and Lam Research Corp. (Nasdaq:LRCX) plunged on weak guidance.
Both Netflix and Qualcomm reported blowout quarters, which wasn't unexpected, but guidance seems to be the major story at this time, and both gave strong outlooks, helping them to outperform.
Another big tech mover on the positive side today is Teradyne Inc. (NYSE:TER), which was up over 11 percent at about 1:00 PM EST.
Teradyne was trading at $16.25, up $1.62, or 11.07 percent, as of 12:57 PM EST. Netflix was trading at $210.60, gaining $27.57, or 15.06 percent. Qualcomm was at $54.96, gaining $3.10, or 5.98 percent.
Both Netflix and Qualcomm reported blowout quarters, which wasn't unexpected, but guidance seems to be the major story at this time, and both gave strong outlooks, helping them to outperform.
Another big tech mover on the positive side today is Teradyne Inc. (NYSE:TER), which was up over 11 percent at about 1:00 PM EST.
Teradyne was trading at $16.25, up $1.62, or 11.07 percent, as of 12:57 PM EST. Netflix was trading at $210.60, gaining $27.57, or 15.06 percent. Qualcomm was at $54.96, gaining $3.10, or 5.98 percent.
Tuesday, January 11, 2011
ASML (Nasdaq:ASML), Teradyne (NYSE:TER), Varian (Nasdaq:VSEA), Applied Materials (Nasdaq:AMAT), MKS (Nasdaq:MKSI), Advanced Energy (Nasdaq:AEIS) Top P
Barclays offered some thoughts after the CES last week, including their top picks in the sector, which include ASML Inc (Nasdaq:ASML), Teradyne (NYSE:TER), Varian Semi (Nasdaq:VSEA), Applied Materials (Nasdaq:AMAT), MKS Instruments (Nasdaq:MKSI) and Advanced Energy (Nasdaq:AEIS).
In LCD they continue to like Corning (NYSE:GLW) as their top pick. With LED they like Cree (Nasdaq:CREE) in the short term.
Barclays added, "Key catalysts this week include an earnings announcement from Intel on January 13 (where we expect positive comments on 2011 capex), a likely capex update/guide from GlobalFoundries on January 10 (expect capex guided higher than $2.7B in 2010), as well as a competitor's conference with presenting companies under coverage including Aixtron (Nasdaq:AIXG), Applied Materials (AMAT), Brooks (Nasdaq:BRKS), Cymer (Nasdaq:CYMI), IPG Photonics (Nasdaq:IPGP), Lam Research (Nasdaq:LRCX), LTX-Credence (Nasdaq: LTXC), MKS Instruments (MKSI), Novellus (Nasdaq:NVLS), Orbotech (Nasdaq:ORBK), and Varian Semi (VSEA)."
ASML closed Monday at $35.90, losing $0.41, or 1.13 percent. Teradyne closed at $13.64, down $0.06, or 0.44 percent. Varian closed at $37.32, down $0.10, or 0.27 percent. Applied Materials ended the session at $13.77, losing $0.19, or 1.36 percent. Advanced Energy ended the day at $13.52, gaining $0.07, or 0.52 percent.
In LCD they continue to like Corning (NYSE:GLW) as their top pick. With LED they like Cree (Nasdaq:CREE) in the short term.
Barclays added, "Key catalysts this week include an earnings announcement from Intel on January 13 (where we expect positive comments on 2011 capex), a likely capex update/guide from GlobalFoundries on January 10 (expect capex guided higher than $2.7B in 2010), as well as a competitor's conference with presenting companies under coverage including Aixtron (Nasdaq:AIXG), Applied Materials (AMAT), Brooks (Nasdaq:BRKS), Cymer (Nasdaq:CYMI), IPG Photonics (Nasdaq:IPGP), Lam Research (Nasdaq:LRCX), LTX-Credence (Nasdaq: LTXC), MKS Instruments (MKSI), Novellus (Nasdaq:NVLS), Orbotech (Nasdaq:ORBK), and Varian Semi (VSEA)."
ASML closed Monday at $35.90, losing $0.41, or 1.13 percent. Teradyne closed at $13.64, down $0.06, or 0.44 percent. Varian closed at $37.32, down $0.10, or 0.27 percent. Applied Materials ended the session at $13.77, losing $0.19, or 1.36 percent. Advanced Energy ended the day at $13.52, gaining $0.07, or 0.52 percent.
Thursday, January 6, 2011
ASML (Nasdaq:ASML), Lam Research (Nasdaq:LRCX), Varian (Nasdaq:VSEA), Applied Materials (Nasdaq:AMAT), MKS Instruments (Nasdaq:MKSI), Advanced Energy
Barclays released its favorites in the U.S. Semiconductor Capital Equipment sector, and they include ASML (Nasdaq:ASML), Lam Research (Nasdaq:LRCX), Varian (Nasdaq:VSEA), Applied Materials (Nasdaq:AMAT), MKS Instruments (Nasdaq:MKSI), Advanced Energy (Nasdaq:AEIS) and Teradyne (NYSE:TER).
Barclays said, "Not A Read-Through for Other Equipment Vendors: We would caution any investors to read this pre-announcement as suggestive of weakening trends at leading front-end equipment vendors. Apparently, Mattson (Nasdaq: MTSN) is seeing pushes of expedited tools to Samsung from 4Q into 1Q along with selected other pushes from tier 2 DRAM vendors. Our take here is that this is company specific and relates to MTSN's more limited customer base. Beyond MTSN, our checks throughout the supply chain in the last few days suggests there have been no change to business fundamentals over the last 4 weeks --- meaning 1HCY11 wafer fab equipment trends are tracking similarly to 2HCY10. So we view this announcement as not indicative of weakness at others and expect SPE companies to reiterate this view at a competitor's conference in NY next week.
"Our top picks in the front-end remain ASML, Lam Research, Varian, and Applied Materials. In sub-system, MKS Instruments and Advanced Energy remain favorites (recently upgraded in December). And finally, in the back-end, we continue to like Teradyne. If there is broad-based weakness for SPE shares post MTSN's print, we would be adding to positions."
Barclays said, "Not A Read-Through for Other Equipment Vendors: We would caution any investors to read this pre-announcement as suggestive of weakening trends at leading front-end equipment vendors. Apparently, Mattson (Nasdaq: MTSN) is seeing pushes of expedited tools to Samsung from 4Q into 1Q along with selected other pushes from tier 2 DRAM vendors. Our take here is that this is company specific and relates to MTSN's more limited customer base. Beyond MTSN, our checks throughout the supply chain in the last few days suggests there have been no change to business fundamentals over the last 4 weeks --- meaning 1HCY11 wafer fab equipment trends are tracking similarly to 2HCY10. So we view this announcement as not indicative of weakness at others and expect SPE companies to reiterate this view at a competitor's conference in NY next week.
"Our top picks in the front-end remain ASML, Lam Research, Varian, and Applied Materials. In sub-system, MKS Instruments and Advanced Energy remain favorites (recently upgraded in December). And finally, in the back-end, we continue to like Teradyne. If there is broad-based weakness for SPE shares post MTSN's print, we would be adding to positions."
Monday, December 20, 2010
ASML (Nasdaq:ASML), Lam Research (Nasdaq:LRCX), Varian Semi (Nasdaq:VSEA), Teradyne (NYSE:TER) Top Picks for Barclays (NYSE:BCS)
Barclays (NYSE:BCS) gave their investment update for the U.S. Semiconductor Equipment sector, and their top picks are ASML (Nasdaq:ASML), Lam Research (Nasdaq:LRCX), Varian Semi (Nasdaq:VSEA) and Teradyne (NYSE:TER).
Barclays said, "Where to Focus in 2011 - Top Picks Remain ASML , Lam Research, Varian Semi, and Teradyne. We have Upgraded Applied Materials (Nasdaq:AMAT), Advanced Energy (Nasdaq:AEIS) and MKS Instruments (Nasdaq:MKSI) to Overweight, and Downgraded Cymer (Nasdaq:CYMI) to UW: ASML remains the best secular story led by Immersion/EUV. LRCX should continue to gain share in etch, and offers the best leverage to NAND and Foundry. VSEA offers exposure to growth from solar, a headwind in 2010 that we expect will turn into a tailwind in 2011. TER remains our favorite back-end name, where consensus has already discounted weakness in SOC with likely growth from memory/HDD. We upgraded AMAT to Overweight on view that silicon share gains plus cost cutting will enable this underappreciated asset to begin to gain favor. We upgraded AEIS and MKSI to 1-OW led by very attractive valuation and strength in solar inverter sales for AEIS and broad-based strength for MKSI. Finally, we downgraded CYMI to 3-UW on valuation."
ASML closed Friday at $38.22, up $1.06, or 2.85 percent. Lam Research was at $51.85, up $0.61, or 1.19 percent. Varian Semi closed at $37.03, up $1.66, or 4.69 percent. Teradyne closed at $13.87, up $0.07, or 0.51 percent.
Barclays said, "Where to Focus in 2011 - Top Picks Remain ASML , Lam Research, Varian Semi, and Teradyne. We have Upgraded Applied Materials (Nasdaq:AMAT), Advanced Energy (Nasdaq:AEIS) and MKS Instruments (Nasdaq:MKSI) to Overweight, and Downgraded Cymer (Nasdaq:CYMI) to UW: ASML remains the best secular story led by Immersion/EUV. LRCX should continue to gain share in etch, and offers the best leverage to NAND and Foundry. VSEA offers exposure to growth from solar, a headwind in 2010 that we expect will turn into a tailwind in 2011. TER remains our favorite back-end name, where consensus has already discounted weakness in SOC with likely growth from memory/HDD. We upgraded AMAT to Overweight on view that silicon share gains plus cost cutting will enable this underappreciated asset to begin to gain favor. We upgraded AEIS and MKSI to 1-OW led by very attractive valuation and strength in solar inverter sales for AEIS and broad-based strength for MKSI. Finally, we downgraded CYMI to 3-UW on valuation."
ASML closed Friday at $38.22, up $1.06, or 2.85 percent. Lam Research was at $51.85, up $0.61, or 1.19 percent. Varian Semi closed at $37.03, up $1.66, or 4.69 percent. Teradyne closed at $13.87, up $0.07, or 0.51 percent.
Tuesday, December 7, 2010
ASML (Nasdaq:ASML), Lam (Nasdaq:LRCX), Varian (Nasdaq:VSEA), Teradyne (NYSE:TER), Corning (NYSE:GLW), Veco (Nasdaq: VECO), IPG Photonics (Nasdaq:IPGP)
Talking technology stocks, Barclays (NYSE:BCS) identified their top picks across several segments, including ASML (Nasdaq:ASML), Lam (Nasdaq:LRCX), Varian (Nasdaq:VSEA), Teradyne (NYSE:TER), Corning (NYSE:GLW), Veco (Nasdaq: VECO) and IPG Photonics (Nasdaq:IPGP).
Barclays reasoning was, "While a mid-cycle order correction has begun, we believe end market data points continue to signal that it will only be mild. Considering relatively cheap valuation and view that this correction is indeed modest, we continue to favor ASML, Lam Research, Teradyne, and Varian. In LCD, we like Corning and recommend owning shares into seasonal 1H11. In LED, we prefer Veco to Aixtron (Nasdaq:AIXG) and continue to see near-term downside risk for Cree (Nasdaq:CREE). Finally, fiber laser supplier IPG Photonics remains a favored growth story.
"Stock Ideas: Our top picks remain ASML (Immersion/EUV), LRCX (share gains/valuation), VSEA (adjacent solar), and TER (FCF/still underappreciated biz model). In LCD, our top pick remains GLW (Gorilla/LCD TV product cycles and valuation). In LED, we prefer VECO to AIXG and still see near-term downside risk to CREE. Finally, we continue to like disruptive tech leader IPGP (growth story)."
ASML closed Monday at $35.18, down $0.40, or 1.12 percent. Lam was at $49.49, gaining $0.27, or 0.55 percent. Varian finished at $35.21, up by $0.21, or 0.60 percent. Teradyne closed up at $13.48, increasing $0.75, or 5.89 percent. Corning was down to $18.69, losing $0.05, or 0.27 percent. Veco ended the session at $47.14, gaining $0.49, or 1.05 percent. IPG Photonics closed at $31.65, down by $0.13, or 0.41 percent.
Barclays reasoning was, "While a mid-cycle order correction has begun, we believe end market data points continue to signal that it will only be mild. Considering relatively cheap valuation and view that this correction is indeed modest, we continue to favor ASML, Lam Research, Teradyne, and Varian. In LCD, we like Corning and recommend owning shares into seasonal 1H11. In LED, we prefer Veco to Aixtron (Nasdaq:AIXG) and continue to see near-term downside risk for Cree (Nasdaq:CREE). Finally, fiber laser supplier IPG Photonics remains a favored growth story.
"Stock Ideas: Our top picks remain ASML (Immersion/EUV), LRCX (share gains/valuation), VSEA (adjacent solar), and TER (FCF/still underappreciated biz model). In LCD, our top pick remains GLW (Gorilla/LCD TV product cycles and valuation). In LED, we prefer VECO to AIXG and still see near-term downside risk to CREE. Finally, we continue to like disruptive tech leader IPGP (growth story)."
ASML closed Monday at $35.18, down $0.40, or 1.12 percent. Lam was at $49.49, gaining $0.27, or 0.55 percent. Varian finished at $35.21, up by $0.21, or 0.60 percent. Teradyne closed up at $13.48, increasing $0.75, or 5.89 percent. Corning was down to $18.69, losing $0.05, or 0.27 percent. Veco ended the session at $47.14, gaining $0.49, or 1.05 percent. IPG Photonics closed at $31.65, down by $0.13, or 0.41 percent.
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