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Citigroup's Terence Whalen picks up coverage of semi equipment stocks and raises KLA Tencor ([[KLAC]] +1.2%) and Novellus ([[NVLS]] +3.1%) to Buy from Neutral, while cutting FormFactor ([[FORM]] -2.6%) to Neutral. Investors “have yet to correctly quantify escalating capital intensity” in the chip manufacturing business, he asserts, expecting wafer fab equipment spending will near $36B in three years.

Posted by expathos (#1) 118 days ago (http://seekingalpha.com)

Citigroup's Terence Whalen picks up coverage of semi equipment stocks

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Stocks | citigroups terence whalen picks coverage semi equipment stocks raises kla tencor klac novellus nvls buy neutral cutting formfactor form neutral investors ldquohave correctly quantify escalating capital intensityrdquo chip manufacturing business asserts expecting wafer fab equipment spending b years All

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