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Dain Rauscher Wessels Announces Investment Opinion On Applied Micro Circuits Corp., PMC-Sierra Inc. and WebEx Communications Inc.
MINNEAPOLIS--(BUSINESS WIRE)--Aug. 14, 2001--
Dain Rauscher Wessels today initiated coverage on the following
three companies:
- Semiconductor technology analyst Shekhar Wadekar initiated
coverage of Applied Micro Circuits Corp. (Nasdaq:AMCC),
$16.80, and PMC-Sierra Inc. (Nasdaq:PMCS), $36.25, with
Neutral ratings. Applied Micro Circuits Corp. is a leading
supplier of Integrated Circuits for the optical networking
market. PMC-Sierra Inc. is a leading supplier of Integrated
Circuits for the networking and communications markets.
- Knowledge technologies analyst George Sutton initiated
coverage of WebEx Communications Inc. (Nasdaq:WEBX), $18.98,
with a Buy-Aggressive Risk rating and a 12-month price target
of $23. WebEx Communications Inc. is a voice, video and data
communications network which enables employees and customers
to collaborate online.
Institutional investors interested in receiving more information
should contact their Dain Rauscher Wessels salesperson. Media
interested in receiving a research report should call (612) 371-2239.
Dain Rauscher Wessels, a division of Dain Rauscher Incorporated,
includes equity research, equity trading, institutional equity sales
and corporate finance. The division's 45 analysts focus on five
industries: consumer, energy, financial services, health care and
technology. Currently, the analysts follow nearly 500 companies. The
division, which employs 450 people, has offices in Atlanta; Austin,
Texas; Boston; Chicago; Dallas; Houston; Memphis, Tenn.; Menlo Park,
Calif.; Minneapolis; New York City; Paris; San Francisco; and Tel
Aviv, Israel(a).
Dain Rauscher Corporation, a wholly owned subsidiary of Royal Bank
of Canada (NYSE:RY), is one of the nation's largest full-service
securities firms with 1,130 investment executives and 4,150 employees.
The company's broker-dealer, Dain Rauscher Incorporated, serves
individual investors and small business owners through offices located
predominantly in the western half of the United States, and capital
markets and correspondent clients in select U.S. and international
markets. Founded in 1909, Dain Rauscher Incorporated is a member of
the New York Stock Exchange and other major securities exchanges, as
well as the Securities Investor Protection Corp. The company's
headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St., in
Minneapolis.
Dain Rauscher Incorporated makes a market in Applied Micro
Circuits Corp., PMC-Sierra Inc. and WebEx Communications Inc. and may
act as principal with regard to sales or purchases of these
securities.
Additional information on the securities mentioned is available on
request. This does not purport to be a complete statement of all
material facts related to any company, industry, or security
mentioned. The information provided, while not guaranteed as to
accuracy or completeness, has been obtained from sources believed to
be reliable. The opinions expressed reflect our judgment at this time
and are subject to change without notice and may or may not be
updated. DRI, its officers, directors, affiliates, and/or employees
(including the authors of this report) may from time to time have a
long or short position in publicly or privately issued securities of
companies mentioned or derivatives thereof and may sell or buy such
securities for their own or related accounts. This notice shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state in which
said offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
(a)Strategic alliance with Tamir Fishman & Co.
Contact:
Dain Rauscher, Minneapolis
Branden Happel, 612/371-2239
bhappel@dainrauscher.com
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