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Technology Stocks : Vitesse Semiconductor
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To: The Ox who wrote (4085)4/17/2002 1:23:16 PM
From: A. Edwards  Read Replies (1) of 4710
 
Goldman Sachs reiterated Market Outperform rating on VTSS:

4-17-02

VTSS reported inline on 7.5% seq rev growth. Guidance was similar to that of last qtr with business continuing to incrementally improve. Although F02 will stay essentially where we had it at $177M (vs $179M)and LPS 0.42, encouraging signs are bookings steadily improved MoM through the qtr and book-bill was above 1. While business trends are clearly heading in the right direction, the still relatively muted slope of recovery and high expense structure may cause the stock to remain rangebound in the near-term. Should business momentum continue to build through the qtr, however, and newsflow upstream starts to improve we could see the stock begin to trend higher more sustainably.
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