But don't expect AMCC's makeover to start any time soon, Banc of America's Harrison warns. He doesn't think AMCC is "complacent," but he also expects that chairman and CEO Dave Rickey wants to make sure the company doesn't rush blindly into some new, temporary fad. "Once we find out which direction the industry's going in, then Dave Rickey will use his $1 billion," he says.
And, like PMC, AMCC might not be done cutting costs.
"They've had the attitude that they can finance their way through it, but investors these days are looking for a return to profitability," says Weisel's Bunting. "There's no question that for them to return to profitability in, say, a year, they will have to cut more."
Craig Matsumoto, Senior Editor, Light Reading
www.lightreading.com
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