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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (5360)	5/10/1998 6:24:00 AM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 10921

All: Re Teradyne (TER). It seems as though the current weakness in the shares stems from an analyst meeting held in mid April, 1998. Before that, TER shares had held strong as they did not come under too much in the way of downward earnings estimate revisions. FY 1998 estimates have come down from $2.56 to $2.26 with all 11 analysts following the stock writing estimates down within the past 30 days. FY 1999 has gone from $3.23 to $2.91 within the past 30 days. I think everyone should watch this stock closely even if not interested in purchasing it. It is a big cap semi equipment stock with revenues for 1997 over $1.2B with approximately (1996) 2/3 revenues being derived from semiconductor test systems. Most importantly, over 81% of the stock is owned by institutions. So we all know who have been net sellers of this stock of late. By comparison, AMAT is 58% owned by institutions. Whether this is purely company specific selling or something indicative of a sector selling is an open question but definitely bears watching in the coming days. Here is a good post from the TER thread: Message 4394871