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Technology Stocks : International Rectifier (IRF) -- Ignore unavailable to you. Want to Upgrade?

To: Fred Mussler who wrote (1020)	6/11/1998 3:24:00 PM
From: DanZ	Read Replies (1) \| Respond to of 1712

Fred and all, I finally spoke to Ms. Wagers today and I personally don't think anything is up at the company to justify the current decline in the stock price. Somebody does want out and I think it's more related to the sector than anything at International Rectifier. The market is full of fear right now and I think people are selling out of fear of the unknown and not because they know something. Ms. Wagers told me that the company is "cautiously optimistic" that they will earn close to 6 cents this quarter (analysts' mean estimate) and that she personally believes the stock is undervalued. She also told me that she doesn't know who is selling or what their motive is and that she wouldn't be able to tell me even if she did know. She said that there have been two insider trades recently: one for 80,000 shares bought and one for 6,000 shares sold. I also asked her if the book value will be around 7 3/4 on the upcoming balance sheet and she said yes, that the company doesn't expect to write down any assets. According to Ms. Wagers, the tentative release date for the next quarterly report is July 23 after the market close. She said that the company has no plans to preannounce earnings or guide analysts down for the current quarter. The SOX is getting slammed, the market is getting slammed, and IRF is getting slammed. I don't think this is unique to IRF and wouldn't assume that the stock is going down because somebody knows something. This sucks but that's life in the market sometimes. Dan