PMC-Sierra (PMCS) Message Board

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Technology Stocks : PMC-Sierra (PMCS)

PMCS 11.65

0.0%

Jan 25 4:00 PM EST

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From: Rustam Tahir	4/14/2000 7:34:00 AM
	Read Replies (1) of 3818

SSB reiterates Buy, maintains $250 target, and raises estimates. Calls Quarter: Rock solid and and bullish * PMC-Sierra reported operating EPS of $0.17, beating Street consensus and our estimate of $0.16. * Networking chip sales (95% of PMC's total) set the pace, rising 27% sequentially and 107% from a year ago. Our model had anticipated 18% sequential growth. * The outlook for June is for another quarter of double digit sequential sales growth, and for total networking revenue growth in 2000 to exceed the 76% pace set in 1999. * Based on the robust sales momentum and overall industry strength, we raised our EPS estimates from $0.71 to $0.78 for 2000, and from $0.96 to $1.06 in 2001. Reiterate BUY rating and $250 price target.

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