Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Doug who wrote (1738)	6/1/1998 3:26:00 PM
From: Stu	Read Replies (2) \| Respond to of 2389

Interesting to see that ALTR, XLNX and the niche semis held their ground while the rest of the SOX got pummelled. I always thought that Xilinx was spelled with two i s. Monday June 1, 11:49 am Eastern Time Altera, other niche chip stocks buck sector trend NEW YORK, June 1 (Reuters) - Shares of Altera Corp. (ALTR - news), Xylinx Inc. (XLNX - news) and other niche semiconductor makers moved higher Monday, bucking weakness in the wider chip sector. In late-morning trading, Altera was up one at 34-5/8. Xylinx gained 1-29/32 to 39-15/16. Lattice Semiconductor Corp. (LSCC - news) was up 1/16 at 38-11/16, and Actel Corp. (ACTL - news) gained 1/16 to 12-13/16. The Philadelphia Stock Exchange's semiconductor stocks index (^SOXX - news), dominated by the microprocessor giant Intel Corp. (INTC - news), was off 4.82 points, or 1.86 percent, at 254.59. Altera and its limited number of rivals make specialized semiconductor products. In the past two weeks the companies have been caught in the general chip stock downdraft, said Dan Scovel, a semiconductor industry analyst at Fahnestock & Co. ''We think Altera and its competitors are faring a lot better than other areas in the semiconductor business,'' Scovel said. ''The niche is OK, it's not great, and Altera continues to be the leading guy.'' Fahnestock has a target price of $47 per share on Altera. Wall Street expects earnings for semiconductor companies in general to fall in the second quarter compared with a year ago because of a glut of chips on the market and the slowdown in Asia. Intel Corp. (INTC - news) was down 2-15/16 to 68-1/2 in heavy trading just before midday on Monday. It was the most active issue on the Nasdaq. The bellwether chip stock warned of a delay in its next-generation processor, code-named Merced. Lawrence Borgman, a semiconductor industry analyst at Josephthal Lyon, said industry conferences are scheduled for this month. ''The news from these (niche chip) companies is not especially bad, so maybe there is a little buying in anticipation of these conferences,'' he said. ''Lattice in particular were hit hard last week, but their outlook has not changed at all from the time they issued their quarterly announcement,'' Borgman said.