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Gold/Mining/Energy : MOSAID Technologies Inc.

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To: Tapcon who wrote (148)	10/6/1999 6:59:00 AM
From: Glenn McDougall	Read Replies (1) of 219

Mosaid stock jumps Semiconductor firm's shares hit new 52-week high By KEVIN BELL, Ottawa Sun A REVIVING semiconductor industry and renewed attention by analysts have lit a fire under the share price of Mosaid Technologies Inc. Mosaid shares have surged by 17% in the last seven trading days, pushing its share price up from $10.50 to $12.30 yesterday. The stock hit a new 52-week of $12.40 yesterday. One analyst, who spoke on the condition he is not named, said companies dependent on the semiconductor industry such as Mosaid are surging on expectations that there could be a memory shortage in the future. The growth of the semiconductor sector is expected to zoom from 30% this year to 60% by 2001, he said. "That is being reflected in the stock price," he said. "There has to be a feeling that the worst is behind it and it's all uphill from here. Since June it's been on a steady rise." Several analysts have recently begun coverage of Mosaid while others have raised their price targets, which is focusing more institutional attention on the firm's turnaround from a series of losses caused primarily by the Asian economic meltdown. Yorkton Securities began coverage recently with a "strong buy" rating and a target price of $20 in 12 to 18 months. Brian Piccioni of Nesbitt Burns recently raised his target price to $14 while Valentine Lee of HSBC Securities set a target price of $18 and rated it a "buy." One analyst said the share price is getting a boost from the company's new technology licensing program, which will boost revenues by $13 million this year. Up to four more companies may sign agreements that could add up to $18 million with little associated cost, he said. Mosaid has also been aggressively promoting itself and is scheduled to hit Boston and New York on an investor tour this week. "All of this has raised its profile and reminds people that if they aren't aware of these things, they should be," the analyst said.

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