-- RGR Financial Corp. Raises Price Target and EPS Estimates on XICOR (XICO) and Re --
/FROM PR NEWSWIRE NEW YORK 800-776-8090/
TO BUSINESS EDITOR:
RGR Financial Corp. Raises Price Target and EPS Estimates on XICOR (XICO) and
Reiterates Its Focus Pick Rating With a New Price Target of $35 from $30
NEW YORK, Jan. 27 /PRNewswire/ -- The following is being issued by RGR
Financial Corp., a member of the National Association of Securities Dealers,
CRD number: 40898.
Xicor, Inc. (Nasdaq: XICO) reported EPS results that exceeded the
company's estimate for the fourth quarter ended December 31, 1999. The
company reported $.09 vs. its estimate of $O.06 on 2 million additional
shares. The Company is increasing its EPS estimates to $O.62 vs. the original
estimate of $0.58 for fiscal 2000 and the company is upping its 2001 EPS
estimate to $1.15, respectively, according to research analyst, Joseph
DiLustro with Alchemy Investment Strategies, Inc.
According to DiLustro, he believes that management will improve gross
margins in both years to justify his raising his EPS estimates. The new
valuation on XICO is based on DiLustro assigning a 30 P/E multiple to his new
estimate for 2001 of $1.15 on a partially taxed basis.
DiLustro further commented that Xicor management is on track to maximize
gross margins by taking the initiative of fazing out its under-capacity Fab
operations, which resulted in a restructuring charge of $23.546 million in the
fourth quarter of fiscal 1999, relating to the planned closure of the
company's Milpitas, California wafer fabrication plant.
The information contained herein is based on sources believed to be
reliable, but its accuracy, together with all estimates and forecasts, is not
guaranteed and subject to change without notice. The information is not
intended to be a complete record or analysis of the security mentioned, nor is
it intended as an offer or solicitation to sell or buy any security mentioned
herein, nor be a suitable recommendation for all investors. RGR Financial
Corp. and/or their officers, employees and members of their families may, at
times, have positions in any securities discussed, and may purchase or sell
these securities, from time to time, in the open market. The securities
mentioned may be sold to or bought from customers on a principal basis by this
firm. The research commentary contains certain statements which express the
belief, anticipation or expectation of future events and these statements only
apply prospectively and should be considered only as forward-looking
statements within the meaning and pursuant to the Safe Harbor provisions of
the Securities Litigation Reform Act of 1995 and involve risks and
uncertainties. The company's actual results may differ significantly from the
results discussed in this research commentary.
Contact: Chet Dubov, Senior V.P. for RGR Financial Corp., 212-350-1400,
Research@RGRFinancial.com.
SOURCE RGR Financial Corp.
/CONTACT: Chet Dubov, Senior V.P. for RGR Financial Corp.,
212-350-1400,Research@RGRFinancial.com/
Symbols:
US;XICO
Source PRN - PR NewsWire
Categories:
NWR/NY NWI/FIN |
