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Old 01-12-2004, 11:23 AM
jjgold jjgold is offline
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Join Date: Jan 2002
Posts: 45,795
Default RE: Tech Reports Monday

Semiconductor
Deutsche upgrades SLAB, RFMD : Deutsche Bank upgrades Silicon Labs (SLAB) to Buy from Hold and RF Micro (RFMD) to Hold from Sell, as its checks over the past few days suggest Q1 handset and component demand will likely be better than normal on a seasonal basis.

Texas Instruments (TXN) 31.78 -0.07: The Wall Street Journal reported the co is expected to announce Friday a pact with Vonage Holdings Corp, which is the nation's biggest provider of Internet-based phone service, to produce software and chipsets for equipment that would enable such calling. Currently, people who want to use Vonage's service have to get an additional piece of equipment from the company to enable calling. The new Texas Instruments design could mean that Vonage's Internet calling capabilities would come built into equipment such as cable or direct-subscriber-line modems.

Semi Equipment
Kulicke & Soffa (KLIC) 15.10 +0.15: Co reiterated that it expects Q1 revs to be around the high end of around $150 mln (plus or minus 5%).

Software
CyberGuard (CGFW) 10.00 +0.55: CE Unterberg initiated coverage with a Buy rating and $14 target. The co's focus on the high-end security market is likely to enable the co to post top line growth ahead of the industry average. The market for high-end security products is likely to grow from $700 mln in 2003 to $1 bln in 2006. CyberGuard has been able to show steady top-line growth and gain market share due to its focus on high-end enterprise customers and govt agencies. The firm's $14 target represents a multiple of 35x the firm's initial CY05 earnings of $0.40.

Infosys (INFY) 98.14 -0.44: Before the open, reported Q3 (Dec) earnings of $0.54 per share, $0.03 better than the Reuters Research consensus of $0.51; revenues rose 37.9% year/year to $275.9 mln vs the $262.4 mln consensus. Company sees Q4 EPS of $0.55 vs consensus of $0.53 on revenues of $290-293 mln, consensus $277.7 mln.
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