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Technology Stocks : Semtech (Nasdaq:SMTC)
SMTC 65.44-3.2%Nov 14 9:30 AM EST
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To: TimeToMakeTheInvs who wrote (914)11/22/1999 6:32:00 PM
From: Leeza Rodriguez  Read Replies (1) of 1225
 
TTM: I don't have the replay number but I did listen to the call. It was g r e a t . As stated in the management summary in the press release, the conservative expectation for the next quarter is for sequential growth of 12-14%. It's conservative because it is based on a very conservative turn percentage of 25% . Thus any turns biz above 25% is just going to be icing on the cake (and they did 38% turns this Q I think).

Anyways, the most astounding comment on the call was that the NEW and improved short term gross margin target is.....
<drum roll>...........55%! Whoa. To top it off one of the analyst said...as you introduce more and more of the proprietary design wins, won't that number go up EVEN more?...SMTC upper ech responded: YES.

Another wonderful fact was that for the quarter they won 250 new design wins. Of this total, 28% were totally NEW customers. SMTC also stated that there were 17 NEW reference designs, which is the terminology used when an OEM specifies (to other companies) SMTC products for designs being done.

At the end of the management discussion the CFO pointed out that the 5year average annualized growth rates are as follows:
revenue= 38%
net income = 76%
"net income is exactly 2 x sales growth and that is at the TOP of all analog companies."

Ladies and gentlemen, we've got a mutual fund debutante on our hands. Stay long!
Leeza Rodriguez
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