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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: Bruce R. Schlake who wrote (3388)	2/29/2000 5:15:00 PM
From: Dr. Id	Respond to of 4710

February 29, 2000 4:59pm ÿ Vitesse soars on CEO's optimism ÿ By Larry Barrett ZDII ÿ Vitesse Semiconductor shares rallied up 12 3/16 to a 52-week high of 103 13/16 after its CEO predicted operating income and gross profit margins will settle in at 40 percent and 70 percent, respectively, in the next five to eight quarters. Vitesse (Nasdaq: VTSS) CEO Lou Tomasetta made those bold predictions to analysts during the Robertson Stephens Tech 2000 investment conference in San Francisco Tuesday. Tomasetta said the company has been adding 10 to 20 new products every quarter and he expects that trend to continue in the rest of 2000. Vitesse supplies chips for some of the fastest-growing communications markets, including optical fiber and fiber channel segments using Earlier Tuesday, Salomon Smith Barney raised its 12-month price target from $40 a share to $100 a share. Last quarter, Vitesse met analysts' estimates, earning $23.6 million, or 14 cents a share, on sales of $89.2 million. Vitesse wasn't the only chip stock making big gains Tuesday. Rambus Inc. (Nasdaq: RMBS) shot up 60 5/8 to 301 5/8 and Altera Corp. (Nasdaq: ALTR) marched up 8 1/4 to 79 3/4. First Call consensus expects the Camarillo, Calif. company to earn 15 cents a share in its second quarter and 66 cents a share in the fiscal year. Its shares fell to a low of 20 3/8 in April. All 20 analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.

To: Bruce R. Schlake who wrote (3388)	2/29/2000 5:19:00 PM
From: Beltropolis Boy	Read Replies (2) \| Respond to of 4710

if you'll excuse my rude intrusion into your lively cocktail-hour banter, here's a blurb from today's robbie stephens conference. keep it up as i have no notion of when i'll sell even a portion of my winners. (have sold my share of losers.) ----- Vitesse: gross margin growth By Cecily Fraser & Mike Tarsala, CBS MarketWatch Last Update: 3:37 PM ET Feb 29, 2000 SAN FRANCISCO (CBS.MW) -- Vitesse Semiconductor (VTSS) Chief Executive Officer Lou Tomasetta said on Tuesday he sees gross margins growing to 70 percent over the next five to eight quarters. Speaking at the Robertson Stephens Tech 2000 investment conference in San Francisco, he said as gross margins approach 70 percent, Vitesse can drive operating income up to 40 percent. He said the company has been adding 10 to 20 new products every quarter and he expects that trend to continue in the rest of 2000. Vitesse supplies chips for some of the fastest-growing communications markets, including the optical fiber and fiber channel segments.