Lam Research (LRCX) upgraded from Neutral to Buy at Merrill Lynch. $47 price target. Lam's current strategy should provide for attractive mid-cycle earnings power with an EPS estimate of approximately $3.30.

My aerea of competence, and high volitality

technology

IBD 100, buy point

Source of Funds - Price 47.61 on Dec. 11
by Think Equity

Fremont, Calif.-based LAM...supplies process tools to major chip makers. Sales reflect penetration of Korean memory suppliers and Taiwanese foundries. In Japan, LAM [is] increasingly gaining share. We believe acquisition of SEZ is likely to bring operational benefits but not much product synergy. Our new target, 45 (from 50), reflects possible margin erosion. Market-cap: $5.9 billion.

Semiconductor mover?

PEG

Important to Apple

Downgraded by Merriman Curhan Ford from Buy to Neutral

Lam research again I sat and researched it. up 1% in two days for me

head for cyclical downturn

"The semi-equipment market is about to enter a downturn after four years of spending growth by semiconductor makers, including a 25% surge to $42 billion last year. I picked Lam over other companies in its field because of its high exposure to memory makers, a notoriously volatile market. There are two types of electronic memory: DRAM [dynamic random access memory] and flash. Flash prices were down in the high double digits in 2006, but we're seeing a build-up in DRAM inventories, as we typically do prior to the launch of a Microsoft [MSFT] operating system, in this case Vista, which was released to businesses in November. The consumer version comes out in January."

sold position today but not before giving back 7 pnts. semi sector, but had a good run.