Market-Leader Varian a Buy - Ken Nagy (Zacks.com)

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Market-Leader Varian a Buy
Apr 07, 2008 10:01 PM UTC

Ken Nagy (Zacks.com)

Return	Risk
-0.29%	MID

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Symbol	Sentiment	Start	Return	Closed
VSEA		04/07/08	-0.03%	--

3/24 - "Varian Semiconductor Equipment Associates, Inc. (VSEA) engages in the design and manufacture of semiconductor processing equipment used in the fabrication of integrated circuits...VSEA has superior technology and remains several product generations ahead of competitors...As nodes get smaller and more complex, VSEA’s equipment become more valuable.

Consequently, we reiterate our Buy rating of the shares of VSEA...VSEA presently trades at a multiple of 15.2x our estimate of 2008 earnings...we are setting our $45 price target, with a corresponding 17.7x P/E."

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