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Technology Stocks : Excel Switching Corporation (XLSW) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (4)11/9/1997 2:55:00 PM
From: Jeff Jordan  Read Replies (1) | Respond to of 222
 
Excel Switching IPO heavily traded

HYANNIS, Mass, Nov 5 (Reuters) - Excel Switching Corp,
which had its debut on the Nasdaq on Wednesday, closed at
$24-1/2 after a day of heavy trading.
With 4.4 million shares traded, Excel was the 15th most
actively traded stock on the Nasdaq on Wednesday.
The company's initial public offering priced 4.5 million
shares at $21 per share.
The company said in a press release that it sold all of
the shares.
In addition, the company added that a selling shareholder
granted the underwriters an option to purchase an additional
675,000 shares to cover over-allotments, if any.
Morgan Stanley Dean Witter, Hambrecht & Quist and
NationsBanc Montgomery Securities Inc served as managers of
the underwriting group.
Excel Switching provides open switching platforms for
telecommunications networks worldwide.
((-- New York Newsdesk (212) 859-1610))

fast.quote.com

JJ



To: Jeff Jordan who wrote (4)11/10/1997 11:20:00 PM
From: Louis Cornell  Read Replies (1) | Respond to of 222
 
Well, let's look at the price valuation. At $1.90 of sales per share, that puts the price/sales ratio at just under 13X. Assuming an EGR of 46%, I would say that anything over 9X sales is too rich based on my calculations.

Looks like a fast growing company, but I wouldn't touch this thing over $17. My 2 cents.

Fire away, Louis


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