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Technology Stocks : Vitesse Semiconductor

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To: Clay Enos who wrote (633)5/21/1997 11:54:00 AM
From: Steve Robinett   of 4710
 
Clay, I'm posting insider sales because they are utterly extraordinary. This is not simply a few people diversifying their portfolios (and I agree people should probably not have a great part of their net worth in the company they work for). This is across-the-board 144 filing, officers, directors, etc., not they usual situation when insiders see higher prices and something people who follow VTSS would probably like to know. I agree the company is first rate and will make money going forward but, currently, they are extremely overvalued and vulnerable to a pullback into at least the mid-20s. Work up the fundamentals and you'll probably agree there is rich valuation here. Insiders seem to agree.
Best,
Steve
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