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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (13606)	2/26/2004 11:31:11 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95405

From Briefing.com: 10:46AM SNDK finding bid ahead of today's Financial Analyst Day at 11:30 ET 24.92 +0.81: 10:26AM SWKS +3.9% strength attributed to JP Morgan checks indicating co taking share from RFMD --0.8% 11.36 +0.43: 10:15AM FDRY and QLGC added to AmTech's Focus List : AmTech adds Foundry Networks and QLogic to its focus list. As for Foundry: (1) Checks with industry and sources indicate that business at Foundry remains strong vs its usual conservative guidance and, contrary to the consensus view, the US government business (32% of revenue) remains strong; (2) Foundry plays in the sweet spot of many industry trends including network convergence (voice, video, data), power over ethernet, and Layer 3/Gig E/10 Gig E upgrade cycle, and (3) its valuation is attractive trading at 27x CY05 with potential upside to $32; Note, stock also upgraded at JMP (see 7:14 InPlay)..... As for QLogic, it's the most diversified SAN player with the lowest cost and highest margin. Other reasons: (1) The biggest fundamental negative, which is uncertainty with the HGST ramp, is no longer valid; (2) Competitive pressures with AMCC and others is overblown; and (3) its valuation is compelling trading at 24x CY05 earnings, near its trough with potential for 50% upside to $65. 9:18AM FCS and IRF upgraded at Thomas Weisel : Thomas Weisel upgrades Fairchild Semi and International Rectifier to Outperform from Peer Perform based on checks with almost 50 distributors, OEMs, and sales reps across Asia, Europe, and North America within the last several days which indicated that business conditions for discretes/low-end analog continue to improve; firm also notes the co's significant operating leverage. Target for FCS is $35, target for IRF is $60. 9:17AM TQNT upgraded at Pac Growth to Over Weight from Equal Weight 7.82: Pacific Growth upgrades TriQuint Semi to Over Weight from Equal Weight on the firm's belief that the Optical markets are poised for a recovery in 2004. The firm believes the Optical business should differentiate the co from its competitors and prove incremental growth prospects. Similar to the recovery of the overall semiconductor sector that began in Q1 of last year, the optical markets have bottomed and, as such, should be poised to recover and grow from current levels. Although optical revenue comprised 14% of total revenue in FY03, the firm expects that on a relative basis, optical revenues stand to grow meaningfully in FY04 and FY05 as the co begins to benefit from new product introductions, increased market penetration and a relatively firming pricing environment. finance.yahoo.com I'm more concerned about the market in general than SWKS taking market share from RFMD so I may let my stocks go sooner than I wanted to when I bought them. The put to call ratio keeps falling and VIX/VXO are way too low. There is not enough fear out there to generate anything really in the way of massive short covering. If the VIX at 55 is the "Exorcist" then the VIX at 15 is like that old Don Knots movie the "Ghost and Mister Chicken." It's only good for laughs. I think we are running out of upside this year. JMHO, RtS