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Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: musea who wrote (10743)	4/27/2000 1:35:00 PM
From: Sueponine	Read Replies (2) \| Respond to of 11555

OK musea, I'm going to be bad, since you care....from SSB Research posted today. 04/27/00 Integrated Device Technology (IDTI $43.68,1-H,Tgt $65.00) Jona --SUMMARY:--Integrated Device Technology--Semiconductors Integrated Device Technology reported fiscal Q4 EPS of $0.41 (excluding one-time gains; vs $0.10) on revenues of $197.5M (up 12% qoq, up 42% yoy; over 50% proforma). This was well ahead of our $0.36 estimate on revenues of $190.8M. Most of the upside came from higher revenues and lower than forecast operating expenses. The revenue mix continued to strongly favor communications products, which reached 72% of sales in the quarter. Orders in the qtr were exceedingly strong, conservatively generating a book to bill of 1.40; leadtimes stretched from 6-8 wks to 10-13 wks, on average, and SRAM prices have begun to edge upward - all positive signals. We are revising upward our EPS estimate for FY01 from $1.80 to $2.00 (20% tax rate) and are introducing a $2.25 FY02 est. (30% tax rate). We reiterate our 1H rating and are raising our target from $55 to $65, 29x our CY01 est. Looks pretty good. Sueponine.