Rockwell-Spins off Conexant (CNXT) Message Board

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Technology Stocks : Rockwell-Spins off Conexant (CNXT)

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To: jas244 who started this subject	3/16/2001 1:37:01 PM
From: David W. Taylor	of 2013

RESEARCH ALERT-PMC Sierra, Conexant targets cut FRIDAY, MARCH 16, 2001 12:02 PM - Reuters NEW YORK, March 16 (Reuters) - UBS Warburg said analyst David Wong cut his price targets on communications chip makers PMC-Sierra Inc. (NASDAQ NM:PMCS) and Conexant Systems Inc. (NASDAQ NM:CNXT) on Friday. In a report, he cut PMC-Sierra's target to $34 from $50. ``We are reducing estimates on PMC-Sierra in response to further reduction in demand in the communications sector as reported by other communications semiconductor companies,'' Wong said. He cut Conexant's price target to $13 from $20. ``We are reducing estimates on Conexant as we believe that market conditions have worsened and we think Conexant's businesses may suffer more in the March 2001 quarter than we had previously expected.'' PMC-Sierra's stock was up $1 at $33-1/8. Conexant's stock was up 1/4 from a close of $11-5/16. Rtr 12:02 03-16-01 Selector Code: reuco Copyright 2001, Reuters News Service

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