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

To: spyhunter who wrote (3392)	2/29/2000 11:52:00 PM
From: spyhunter	Respond to of 4710

FYI YORK, Feb 29 (Reuters) - Shares of companies that make microchips for communications equipment soared on Tuesday after Salomon Smith Barney raised its price targets on seven chip makers and Deutsche Banc Alex. Brown resumed coverage of four. The Philadelphia Stock Exchange's index of chip stocks rose nearly 9 percent, or 94.86 points, to a record high of 1161.29 by mid-afternoon. Deutsche Banc Alex. Brown analyst Erika Klauer on Tuesday resumed coverage of Altera Corp. ALTR , Atmel Corp. ATML and Xilinx Inc. XLNX with strong buy ratings. Additionally, Klauer resumed coverage of Micron Technology Inc. MU with a buy rating. "After a disappointing three-year downturn, we are at the beginning of a substantial semiconductor industry up-cycle," she said in a research report. The Salomon report was also bullish on the industry as a whole. "By any measure, few other areas possess the growth, upside potential, and profitability of the Internet IC (integrated circuit) area," the report said. Salomon raised the target on Broadcom Corp. BRCM to $250 from $200 and shares rose 11-13/16 at 193-5/16 on the Nasdaq stock market. Xilinx, which Salomon raised to $100 from $65, was up 8-3/8 at 78-5/8. PMC-Sierra Inc. PMCS rose 11-1/4 at 190 after Salomon raised the price target to to $250 from $125. LSI Logic Corp. LSI was up 5-11/16 at 63 following Salomon upping its target to $70 from $57.50 and Vitesse Semiconductor Corp. VTSS was up 10-1/8 at 101-3/4 after Salomon raised the target to $100 from $40. Altera Corp. was up 8-1/8 at 79-5/8 on Nasdaq while Applied Micro Circuits Corp. AMCC rose 17-1/16 at 272-1/2. Salomon raised Altera's target to $100 from $80 and raised Applied Micro's target to $350 from $200. Micron Technology was up 21-1/16 at 99-1/8 while Atmel rose 6-1/8 at 49-3/4. ((--Mark Weinraub, New York Equities desk 212-859-1700)) REUTERS