PMC-Sierra (PMCS) Message Board

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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: Bulldozer who wrote (2475)	4/16/1999 9:49:00 AM
From: w2j2	of 3818

NEW YORK, April 16 (Reuters) - Credit Suisse First Boston on Friday said it upgraded communications chip maker PMC-Sierra Inc. to strong buy from buy following the company's first quarter earnings report and a two-for-one stock split Thursday. -- Analyst Charlie Galvin said he increased his price target on the stock to $90 after the company beat his expectations for the first quarter, due in large part to a 3 percentage point increase in gross margin to 78.1 percent. -- He increased his earnings estimates for 1999 to $1.55 from $1.46 per share and his year 2000 estimate to $1.90 from $1.82 per share. Copyright 1999, Reuters News Service

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