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Technology Stocks : PMC-Sierra (PMCS)

PMCS 11.65

0.0%

Jan 25 4:00 PM EST

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To: Scott Kessler who wrote (2025)	8/5/1998 4:35:00 PM
From: Danny Chan	Read Replies (2) of 3818

August 5, 1998 PMC-Sierra Falls As Montgomery Points To Seasonal Slowing Dow Jones Newswires PALO ALTO, Calif., -- PMC-Sierra Inc. (PMCS) shares were down 12.1% after NationsBanc Montgomery Securities analyst Clark R. Westmont said the company is seeing seasonally slow summer sales. Summer slowing is common in the businesses of many technology companies. PMC-Sierra is "not in trouble," said Westmont, who noted that he was surprised by the strength of the market reaction to his comments. "The company's business is healthy, but seasonally slow." PMC-Sierra shares were off 4 9/16 at 33 1/16. Nasdaq volume was 6.2 million, compared with average daily volume of 722,000. -By Mark Boslet; 650 496-1366

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