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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: Trey McAtee who wrote (4077)8/6/1998 5:05:00 PM
From: DanZ  Read Replies (2) of 6565
 
I wouldn't count on a stock repurchase. I talked to Sunil Mehta the other day and asked him about a stock repurchase. He didn't say it was out of the question, but he didn't say it was part of their plan either. He mentioned that they are buying back stock as part of their employee stock program but that they don't have any plans to go beyond that. Reading between the lines, I don't think it will happen. I'm beginning to wonder if this company even cares about increasing the value of the stock at all! If you want to see the stock move up quickly, remove Stein from the helm and replace him with Beyer or somebody else that Wall Street respects.

Not to beat a dead horse, but VLSI has performed very poorly over it's lifetime. The stock has been in a multiyear trading range between 10 and 40. Anybody who is looking for this company to provide sustained long term capital gains should probably look elsewhere. It has been a great trading stock, but not a good long term investment. This is not Microsoft and there's no reason to think that it ever will be. I believe that this company will merge with another company one day, but probably not until after Stein is gone.

Chart read: I think a significant low has been put in at 12 1/4 and would look for a new trading range between 12 1/2 and 16. VLSI made lows in the 12 1/2 area in August 1996 and I feel like this has been successfully tested again. There will probably be a lot of resistance on the way back up and the stock may test the mid 12 area again. Initial resistance for VLSI may come in at the old 52 week low (14 5/8). I flipped it twice today for +3/8 and +1/8 and still hold a core postion. Let's see...how long will it take me to make $7 per share back at this rate? Good day for the SOX...It was up 11.53 points (4.58%).

Have a nice evening everybody.

Dan
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