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Technology Stocks : Semtech -- Ignore unavailable to you. Want to Upgrade?

To: R. M. Rosenthal who wrote (678)	1/7/1998 12:43:00 AM
From: Jeff Bond	Read Replies (1) \| Respond to of 886

>>Q. Explain growth flow - your method for picking technology stocks. A. Growth flow is similar to cash flow, a concept people are used to. Cash flow is earnings plus depreciation, and the reason you care about it is that both earnings and depreciation belong to the shareholders. In an old-economy company, there is a lot of depreciation. But most technology companies don't have a lot. What they do have that would be an expense, but is really an investment for shareholders, is R&D. So if you add earnings per share to R&D per share, you get growth flow. And the advantage of it is that the ratio of stock price to growth flow will tip you off that a stock is cheap before the price-earnings ratio will. And you'll have enough time to go in there, see if they're doing all that R&D on something of interest to you, if the management is able, and so on. ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ Later, when the R&D results in new products and the new products result in an increase in earnings, Wall Street will pile on because, of course, they only look at earnings.<< Regards, JB Andy, you're killing me! Dump COMS once and for all, and stock up on as much SMTC as you can get; you'd be doing both of us a favor :o)

To: R. M. Rosenthal who wrote (678)	1/13/1998 1:26:00 PM
From: Todd D. Wiener	Read Replies (1) \| Respond to of 886

Amex to Trade Options on Semtech Corporation PR Newswire - January 13, 1998 12:19 NEW YORK, Jan. 13 /PRNewswire/ -- The American Stock Exchange today announced it will trade options on the over-the-counter stock of Semtech Corporation (stock/option symbol: SMTC/QTU) beginning Wednesday, January 21. Semtech Corporation, based in Newbury Park, California, manufactures silicone rectifiers, integrated circuits and related devices. The Company's products are used in aerospace, industrial, military, computer and consumer applications. QTU will open with strike prices of 17-1/2, 20 and 22-1/2, with position limits of 7,500 contracts. Initial expiration months will be February, March, June and September of 1998. The specialist unit for the new options will be Kalb, Voorhis/Cranmer & Cranmer. The Amex trades options on 29 broad-based and sector indexes and 844 stocks -- including 360 over-the-counter stocks and 88 American Depositary Receipts (ADR's) -- and 99 Long-term Equity AnticiPation Securities(R) (LEAPS(R)). In addition, the Amex is a leader in listing warrants on foreign currencies and indexes as well as hybrid instruments and other structured products. Visit Amex. web site located at amex.com