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Technology Stocks : Vitesse Semiconductor
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To: cgraham who wrote (1640)9/18/1998 11:56:00 PM
From: MoonBrother  Read Replies (1) of 4710
 
At $23, VTSS is an excellent value stock. In fact, all the analysts who are following the stock are screaming BUY! BUY! BUY! of VTSS. In the following several posts, I will publish more than half dozen analysts' most recent comments. Enjoy!

MB

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09:35am EDT 18-Sep-98 Needham & Co. (Peter Dale 212/371-8300) DPMI ENVY HYSL RC
NEEDHAM MORNING RESEARCH SUMMARY

Needham & Company, Inc. (212) 371-8300
Equity Research Trading Desk
September 18, 1998 (212) 371-0312
800-843-4446

Equity Research Morning Summary

Vitesse Semiconductor Corp. (VTSS/OTC)$23.56 FY Revenues (mil) EPS
Analyst: Glenn Hanus, (212)705-0361 9/99E: $290.0 $0.87
Strong Buy. 9/98E: $175.0 $0.67
£ We think that there is excellent near term visibility of revenues
and earnings for VTSS because the company was fully booked going into the
quarter.
£ We believe that the weakness in VTSS' stock price in the last few
days was in part due to investors' concerns over whether telecom
equipment end markets are softening. We do not believe that VTSS'
telecom business is in any jeopardy.
£ Using a P/E of 42 on our July 99 to Jun 00 EPS estimate of $1.13 (or
a P/E of 50 on our calendar 1999 estimate of $0.96) gives us a 6 - 12
month price target of $48 for the stock.
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