That said, Hodess contends the company’s “excellent execution and strategy” should produce improving earnings despite a relatively flat semiconductor equipment spending environment. He sees profits for the fiscal year ending June 2007 of $4.50 a share, versus $2.34 last year, but declining to $3.60 in fiscal 2008. Hodess rates the stock Neutral.
This morning, with the Nasdaq in rally mode, Lam shares are ahead 51 cents, at $51.13.
LRCX 1-yr chart: