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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: marvin smith who wrote (1983)	7/23/1998 9:40:00 AM
From: Bulldozer	Respond to of 3818

I am not nearly as familiar with LEVL as PMC but my read is they are a good company in a space with much more near-term competition than PMC. I understand their management is top notch though and among the most respected in this space. Their concentration in Ethernet Phy, Repeaters, T1/E1 and some PDH looks good but again is subject to much faster price erosion near term. Interestingly, PMC's moves in this space (ethernet in particular - PMC has long been established in the other areas)are being very well received by vendors and I look for PMC to take market share away from LEVL and build a decent add-on business in this area. At $24, it trades at 21 times forward earnings of $1.13, a decent discount to the 28% growth projected from this years estimated earnings of $0.88. Its certainly cheaper than PMC, but I believe there is a reason for that! Might be a decent play though. Bulldozer