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

To: nasdaqian who wrote (7189)	3/28/2000 1:23:00 PM
From: DJBEINO	Respond to of 9582

Prudential raised its price target on VTSS to $200 ++++++++++++ VTSS -- Semicndtr-Intgrtd Circs -- Technology Short-Term Traders Send VTSS Flying on Acquisition 28-Mar-00 11:08:53 Vitesse Semiconductor has vaulted $10 1/16 to trade at $106 following yesterday's acquisition deal with privately held Orologic Inc. VTSS agreed to pay $450 million in stock for Orologic, in a move to increase its solutions for ATM and IP applications. This morning, Prudential raised its price target on VTSS to $200 and reiterated its "Buy" rating, while CIBC World Markets increased its target price to $150. Adams, Harkness & Hill upgraded its rating to "Strong Buy" from "Accumulate." Investors have taken analyst's words of praise to heart and are piling into the stock, sending VTSS soaring. Volume is heightened--- over 5 million shares have crossed, while the 10-day average daily volume is less than 3 million. Short- term and speculative investors are driving the market, with less than 15% of today's volume attributable to trades of more than 10,000 shares. VTSS is bouncing up against $107, despite the buying momentum. I-Watch's pre-trade data indicates that some institutional investors are looking to cash in on today's gains, offering shares up to $107. While the supply has helped limit the gains in the near-term, the supply has not dampened demand. In the post-trade market, institutional brokers have reported 20% of total volume while retail brokers have claimed roughly 10%. Some of the institutional volume is related to market making and professional day traders, who are capitalizing on today's 10+% pop.