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 : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Aloha who wrote (18192)	6/21/1998 12:40:00 AM
From: Elroy Jetson	Respond to of 25960

Is Barron's mention of Adaptec positive or negative? Judge yourself. Sizing Up Small Caps Happy Returns - Rhonda Brammer Hedge-fund manager Tim Curro looks for fat margins, sturdy financials and bargain prices. Adaptec, Bisys, Newfield and more. ..Curro has a larger stake in Adaptec, another trashed tech. Nine months back, with its stock above 54, Adaptec was a $6.2 billion company. By last Monday, when shares sold as low as 12 1/2, its stock-market value had been slashed to $1.4 billion. That's getting to be a small-cap the hard way. Adaptec is the leading provider of small computer system interface (or SCSI) technology, which manages the exchange of data between a computer and its peripherals. Like other techs, Adaptec has felt the fallout from Asia. But it faces other uncertainties, including whether its proposed acquisition of Symbios will get the go-ahead. And there's concern whether Adaptec's new products will take up the slack as the industry slowly shifts away from SCSI products, Adaptec's bread and butter, and toward rival technologies like fiber channel. On this score, Curro sees the doubts as overblown. "They've already introduced a couple of new controllers that support fiber-channel host interfaces." Book value is almost $8 a share, some $6 cash. If the $775 million Symbios deal goes through -- as Curro believes it will -- Adaptec's balance sheet will still be decent, though no longer great. Street estimates are 85 cents for this fiscal year, ending March 1999, and $1.52 for March 2000. The stock closed Friday at 15 1/4. His 18-month target: $35.