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Technology Stocks : Semtech (Nasdaq:SMTC) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Bond who wrote (1088)	5/26/2000 10:23:00 AM
From: Rick Verstay	Read Replies (1) \| Respond to of 1225

I don't believe Jack Poe will ever leave voluntarily. He has been CEO ever since I can remember, at least the early 70's. Semtech is his creation. You don't abandon your child.

To: Jeff Bond who wrote (1088)	5/26/2000 10:32:00 AM
From: Czechsinthemail	Respond to of 1225

JB, Thanks for the post. I realize that 4Q is typically a bigger quarter than 1Q, but that is true for other tech companies as well. I was wondering if there was something more company-specific. Meanwhile Bloomberg reports ... U.S. Durables Orders Fell 6.4% in April, Most Since Dec. '91 By Vincent Del Giudice Washington, May 26 (Bloomberg) -- U.S. durable goods orders plunged 6.4 percent in April, the steepest drop in almost 8 1/2 years, as orders for electronic equipment such as semiconductors posted a record decline, government figures showed today. The drop in orders for items made to last for three or more years followed a revised 4.5 percent increase in March and was the steepest drop since December 1991, the Commerce Department said. Excluding transportation equipment, orders also fell 6.4 percent. That followed a 4.5 percent increase in March and was the sharpest decline since July 1989. Even with the slower pace of orders growth, factories will have to step up production to meet demand from U.S. and overseas customers, analysts say. Consumer spending rose in the first quarter at the fastest pace in 15 years, helping draw down business stockpiles in relation to sales to their lowest ever in March, previous reports showed. ``Historically low inventory to sales ratios insure that manufacturing will continue the recovery begun early last year,'' said Vincent Boberski, an economist at Dain Rauscher Inc. in Chicago, before the report. ``The dip in durable goods orders is largely due to firms catching up with unfilled orders.'' Factory deliveries and order backlogs both fell. Shipments dropped 0.8 percent after rising 2.5 percent in March. Unfilled orders fell 0.8 percent after increasing by 1.6 percent. Backlogs at Intel Intel Corp., the world's largest maker of computer chips, is among those finding that demand is outstripping supply. The company, which has sold out of some products because it underestimated demand, said this week it is spending $2 billion to expand a New Mexico plant. Today's government report showed that electronic equipment orders slumped 20.1 percent after a March increase of 8.9 percent. Electronic goods include communications equipment, appliances and video equipment, as well as semiconductors, circuit boards, capacitors, resistors, coils and transformers. Orders for non-defense capital goods excluding aircraft -- a gauge of business investment plans -- rose 1.1 percent in April after rising 4.4 percent in March. Shipments of non-defense capital goods other than aircraft, a measure of business investment that feeds directly into gross domestic product, rose 0.7 percent in April after a 4 percent gain the month before. Yesterday the department reported that non-residential investment, which includes commercial construction and business equipment and software, rose at a 25.2 percent annual rate in the first quarter. That's up from a previous estimate of a 17.3 percent gain. Analysts expected a 0.5 percent drop in April orders for all durable goods after a previously reported increase of 3.5 percent in March. Non-Defense Orders Fall Outside of defense, orders fell 6 percent in April after a 4.8 percent rise in March. Transportation orders fell 6.7 percent in April, including a 4.1 percent drop in orders for commercial aircraft. The Commerce Department said the decline in transportation orders was led by motor vehicles and parts. Boeing Co., the world's largest aircraft manufacturer, reported four orders for commercial aircraft in April after posting 111 orders during March, according to the Seattle-based company's Internet site. On March 23, Boeing announced it received an order for 50 of its twin-engine 737 jetliners valued at $2.3 billion. Boeing wouldn't name the buyer. The order, did however, mark the signing of a definitive agreement for a purchase that had been tentative, according to Boeing. Other indicators point to an increase in orders this month and beyond. The Federal Reserve reported earlier this month that industrial production rose 0.9 percent in April -- the fastest pace in 20 months. Moreover, new car and truck sales were on target during April to reach a record 18 million this year. Industry-wide sales rose 11 percent from April 1999, to 1.4 million. Orders for defense capital goods fell 20 percent in April after falling 4.4 percent in March.