Oak jumps to "strong
Oak Technology (OAKT), provider of
high-performance multimedia semiconductors and related software, has been upgraded by Hambrecht & Quist analyst Rob Chaplinsky to a "strong buy" from a "hold."
The company's stock leaped over 16 percent to trade as high as 14, up from yesterday's close of 12-1/16.
The company recently announced net income of $13.2 million for its fourth quarter of 1996, a decrease from $18.2 million for the same quarter a year earlier. The company's revenues also dropped to $47.6 million for the quarter from $83.7
million a year ago.
"There are definitely in a recovery mode," said Chaplinsky. "But the fundamentals indicate that the inventory correction is behind us. The key point is strong business outlook, as well as order and booking trends for CD-ROM controlers look very strong for Oak, which increases our confidence.
He added that the company's stock is undervalued and said it should be trading around 16 or 18 based on current market conditions.
Mercury moves up
Mercury Interactive (MERQ), provider of automated software quality (ASQ) tools for testing enterprise applications, was upped by Oppenheimer & Company to a "buy" from a "market perform."
The company's stock advanced over 5 percent to trade as high as 15, up from yesterday's close of 14-1/4.
Ingram set to
Ingram Micro (IM) was picked up by Deutsche
Morgan Grenfell with a rating of "accumulate."
The stock was trading as high as 23-1/8, up from yesterday's close of 21-7/8.
Deutsche set a 12-month price target of $25-$26 a share.
This follows Ingram's announcement that it has received ISO 9002
registration from KPMG Quality Registrar.
ISO standards are part of a globally recognized quality standard system established by the International Organization
for Standardization in Geneva, Switzerland, and adopted by over 90 countries worldwide.
BDM gets upped
BDM International (BDMI), a provider of information technology systems and services,
has been upgraded by Lehman Brothers
analyst Patrick Burton
to a "buy" from an "outperform" based on price weakness.
The company's stock was up over seven percent to trade as high as 47, up
from yesterday's close of 43-1/4.
The company recently announced its year-end net income for 1996 increased
48 percent to $27.3 million, up from $18.4 million in 1995.
Tandy picked up at
Consumer electronics retailer Tandy (TAN) received an initial "neutral" rating from Bear Stearns.
The company's stock was trading at 47-3/8, unchanged from yesterday's close.
Reuters contributed to this report.