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

To: JDN who wrote (10826)	8/24/2000 7:01:35 AM
From: JDN	Respond to of 11555

To All: A 5 point move and noone posts?? Well, someone has got to say something. Try reading the below for a morning pick me up!! JDN StockBottom.com Play List Legend: Below are the new additions to the current plays list. To review older picks still in play go to: stockbottom.com The format is as follows: symbol - company name - closing price - (daily change) - stop loss 1st paragraph is the company description. 2nd paragraph is the reasoning behind the play. Below: Average daily volume 52-week: High - Low Next earnings Date - Earnings est. - Same quarter 1 year ago. ----------------------------------------------------------------- IDTI - Integrated Device Technology $77.50 +5.06 s/l $69.75 Sector - Semiconductor IDT enables a digitally connected world by providing innovative semiconductor solutions to leading-edge system designers in communications. IDT's broad product mix consists of communications memories, networking devices, RISC microprocessors, high-speed SRAMs, and high-performance logic and clock management products. The company’s products are used primarily in high-performance electronic systems for the communications infrastructure including the network and wireless infrastructures. Integrated Device Technology joins our family of stocks to consider tonight. The semiconductor company surpassed its old high today as investors continued to search for some place to park their money. There was no company specific news behind the move as investors bid shares of IDTI 6.9% higher by day's end. Really in the last month there has been little in the way of company news significant enough to make the headlines. The company did produce favorable results in the most recent quarter, with revenues surging 50% and earnings coming in 11 cents better than analyst’s estimates. Company officials suggest the better than expected performance came as a result of improvement in gross margins, which it has maintained for the eighth consecutive quarter. They went on to say that IDT's proprietary and limited second-source products now account for about half of the company's revenue, which also contributed significantly to improved margins. Since falling to its 100-dma earlier this month, which at that time was sitting near the $50 level, shares of Integrated Device Technology have moved progressively higher, forming a classic channel pattern. The volume has been on the light side for the last five sessions, so the 3.7 million shares today was certainly a welcome sight. Some suggest the strength today was due in part to institutions adding shares of the company’s stock to their portfolios. Institutional investors hold 75% of the outstanding shares. If the bulls continue to favor IDTI we would suggest looking for a favorable entry. If profit taking hits the trading floor first, then support is found near $74, and back near the $70 level. Be sure to check the level of participation, before placing an opening order. Average Daily Volume = 3.16 mln 52-week: High = $78.19 Low = $15.06 Next Earnings 10-17 est = 0.70 versus = 0.18 Chart = stockbottom.com