LSI Corp. (LSI) yesterday reported revenues of $578 million in the third quarter, down 19% year over year but up 11% sequentially. The sequential improvement in revenues was driven by increased shipments of mid range storage systems and server rated solutions. IT spending showed clear signs of improvement in the quarter as data centers needed to [...]

(LSI) LSI Corporation’s Q3 Profit Swells

LSI Corp. (LSI) recently said it would collaborate with Aricent to accelerate the deployment of its wireless and wireline networking infrastructure and enterprise networking systems. The companies currently offer pre-integrated software stacks for multi-service business gateways that run on communications processors developed by LSI. They have now extended their collaboration to wireless and additional wireline [...]

(LSI) LSI Corporation Sees Better Times Ahead

Adaptec Inc. (ADPT) is facing increased pressure from an activist hedge fund that derailed its previously planned merger in 2007 and now wants to stop the company from making a large acquisition following a coup. Warren Lichtenstein’s Steel Partners, known for its hostile activism, said in its PRE14A filing with the SEC that it is now preparing for a proxy fight.[More...]

Today there were a couple of posts about how tech stocks are currently especially attractive because they hold plenty of cash and tend to have little debt. Paul Kedrosky initially caught my eye with his post "Tech Cash is King" which in turn pointed me to a story on Bloomberg by Eric Martin. I ran a screen tonight that looked at both cash and debt. Specifically, I screened for a Price-to-Cash ratio under three, a Debt-to-Equity ratio under three and a Market Cap greater than $2.5 million. Based on these criteria, I obtained a list of 136 stocks. Judging from our list, it is absolutely true that many tech stocks do seem to have lots of cash and little debt. What also became apparent as I went through the list is that there[More...]