IRVINE, Calif., March 28, 2000 (PRIMEZONE) -- IBC reported today that Sitek (OTCBB:SITK) and Vitesse rose today while the Semiconductor Index had a minor setback.
SITEK, through its operating subsidiaries and divisions, specializes in providing technical and manufacturing solutions for the semiconductor electronics industry. The Company's broad range of products and services include the design and manufacture of next-generation semiconductor equipment including CMP systems, diffusion and LPCVD systems, ultra-high purity gas delivery systems, and rapid batch magnetic anneal systems. SITEK also specializes in the sale of preowned semiconductor equipment and advanced manufacturing system automation. The Company further provides value-added processing of silicon wafers and semiconductor engineering and technical services.
Vitesse Semiconductor (Nasdaq:VTSS) Shares are up 8 5/16 at 104 1/4 after the company said that it would buy chipmaker Orologic for $450 million in stock. PaineWebber raised the company's price target to $200 from $135 following the announcement, while CIBC World Markets raised its price target to $150 from $100.
IBC (www.ibchannel.com) is the premier business and finance portal providing investors with a one stop destination for business and financial information including free news, quotes, charts, commentary from top analysts and online corporate profiles and research. Interactive Business Channel Inc. develops and invests in new technology companies and new technology incubators. Its portfolio companies include Medcom USA, Usurf America, Xpedian, Inc., and most recently Financial Performance. IBC may have equity positions in the companies mentioned herein please visit www.ibchannel.com/disclaimer.