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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: JohnM who wrote (4189)8/28/1998 10:57:00 PM
From: DanZ  Read Replies (1) of 6565
 
John,

The share repurchase that VLSI announced is part of an ongoing program to purchase stock for employee options. It is not the same thing as a share buy back that a company undertakes when they think their stock is undervalued. I spoke to Mr. Mehta at VLSI a few weeks ago and he indicated that VLSI is not planning to buy back any stock in addition to the announced program. That doesn't mean that they won't change their minds, but that was their plan at that time. I wouldn't read a lot into this buy back program because they would have done it no matter what the price of the stock. The only advantage is that the company is saving some cash by getting the stock cheaper. I still think that VLSI is a very cheap stock that is just getting hammered with the market, but I wouldn't buy it solely based on the share buy back.
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