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Technology Stocks : ADI: The SHARCs are circling! -- Ignore unavailable to you. Want to Upgrade?

To: nord who wrote (1221)	2/9/1999 8:54:00 PM
From: nord	Respond to of 2882

Note maturity and percent paid. Now why are they getting rid of this debt paper? Analog Devices to Redeem Convertible Subordinated Notes NORWOOD, Mass., Feb. 9 /PRNewswire/ -- Analog Devices, Inc. (NYSE: ADI) today announced that on March 11, 1999 it will redeem in full the Company's 3 1/2% Convertible Subordinated Notes due 2000 (the "Notes"). The aggregate principal amount of the Notes outstanding is $230 million. Holders may convert their Notes into shares of Analog Devices, Inc. (ADI) Common Stock at a price of $20.938 per share, or approximately 47.76 shares of ADI's Common Stock per $1,000 principal amount of Notes, prior to 5:00 p.m., East Standard Time, on March 4, 1999. Cash will be paid in lieu of fractional shares. On February 8, 1999, the last reported sales price of ADI Common Stock on the New York Stock Exchange was $31.25. Alternatively, holders may have their Notes redeemed at a redemption price of $1,014 per $1,000 principal amount of Notes, plus accrued and unpaid interest of $9.72 per $1,000 principal amount for the period December 1, 1998 to March 11, 1999. The total redemption price is $1,023.72 per $1,000 principal amount of Notes. Any Notes not converted on or before 5:00 p.m., East Standard Time, on March 4, 1999, will be automatically redeemed on March 11, 1999, after which interest will cease to accrue. So long as the market price for ADI Common Stock is at least $21.44 per share, a holder of the Notes who converts will receive ADI Common Stock with a market value (plus cash in lieu of any fractional shares) greater than the amount of cash the holder would otherwise be entitled to receive upon redemption. A Notice of Redemption is being mailed to all registered holders of the Notes. Copies of the Notice of Redemption may be obtained from State Street Bank and Trust Company by calling Scott Knox at 617-664-5588. With fiscal 1998 revenues of $1.23 billion, Analog Devices is a leading manufacturer of precision high-performance integrated circuits used in analog and digital signal processing applications. Headquartered in Norwood, Massachusetts, the company employs approximately 7,200 people worldwide and has manufacturing facilities in Massachusetts, California, North Carolina, Ireland, the Philippines and Taiwan. SOURCE Analog Devices CO: Analog Devices ST: Massachusetts IN: CPR SU: 02/09/99 16:01 EST prnewswire.com --------------- Analog Devices Rated New 'Buy' at DLJ Princeton, New Jersey, Feb. 9 (Bloomberg Data) -- Analog Devices (ADI US) was rated ''buy'' in new coverage by analyst Charles F. Boucher at Donaldson Lufkin & Jenrette Securities Corp. The 12-month target price is $45.00 per share. 08:29:18 02/09/1999 Norden

To: nord who wrote (1221)	2/9/1999 10:05:00 PM
From: Jim Oravetz	Read Replies (2) \| Respond to of 2882

<Both TI and Lucent have more powerful DSPs, as I am informed, than ADI. Since Intel never takes quantum jumps on any advancement, a mundane fixed point DSP just will do. There is no need for sophisticated > IMHO, ADI has the disputed 2nd place finish with the SHARC (DSP) behind the C63xxx series chips from TI. TI has 45% or so market of the total DSP business. The forthcoming TigerSHARC part, with the right software development tools, will surpass anything from TI. Intel has the second highest chip process technology guys behind IBM. Very few others, can compete in the amount of $ that INTC spends on process technology. Have you looked at the linewidth numbers, 0.18 and downword, on the latest CPU's coming soon to a computer near you! Intel has taken quantum leaps and still demands up to 80% of the CPU market. This JV is good for ADI. Nice target price of $45. Up, Up and away. Jim