IDTI - an IC Play on Growth Markets Message Board

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Technology Stocks : IDTI - an IC Play on Growth Markets

IDTI 48.99

0.0%

Mar 29 5:00 PM EST

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To: Jim Oravetz who wrote (10690)	3/9/2000 8:35:00 AM
From: Jim Oravetz	of 11555

Integrated Device Technology (IDTI) 40 7/8 -2 7/8: Integrated Device Technology is a designer of semiconductor solutions for the communications and networking markets. But this story isn't really about them. We are more interested in Virata Corp (VRTA), a designer of communications processors used in digital subscriber line (DSL) equipment... Virata shares have more than doubled over the past two weeks, ignited by announcement that Ericsson (ERICY) will use the company's Helium processor in its residential ADSL products... In a momentum driven market, a major breakout by one stock usually attracts attention to the competition. IDTI is one of those competitors... By no means has Integrated Device Technology gone undiscovered. The stock is up more than eight-fold from its 52-week low of $5 per share. On a year-to-date basis, IDTI shares have risen 41%... But relative to both the overall tech sector and competing chip names, IDTI still a very inexpensive stock... A Zacks survey of eight analysts has company earning $0.90 (P/E 45) in 2000. EPS projected to expand 80% in 2001 to $1.62 (P/E 25)... IDTI has forced analysts to revise earnings views sharply higher, as company has blown past estimates in each of the last five quarters. Since returning to profitability in the April '99 quarter, IDTI has topped Wall Street views by an average of 273%. Exclude the 900% upside surprise delivered in the yr-ago qtr, and company has beat the Street by an average of 64%... IDTI due to report Q3 results in mid-April. Wall Street anticipating a profit of $0.32 a share for the period... Issue currently trading 11% off its 52-week high set yesterday. Near-term support exists at the $34 level. Source:Briefing.com Jim

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