Business has been spotty, but they have a balance sheet built like a tank, and have a shot at some good business growth. So after the quarterly the investment community concluded, hey we have massacred this stock far beyond what it warrants.
One thing I wish about UTEK is that they would have a set of viewgraphs on their web site that gives the basic info about the company, i.e. what exactly their products are and where those products fit in to the current market and where they feel the growth prospects are.
By bits and pieces I understand they make laser annealers, steppers, and metrology eqt. I need to try to understand what they have in more detail.
The fact that they are in more than one product is a positive from my standpoint. Not a one trick pony.
The Q&A discussion of steppers did interest me. RTEC is doing a 2x stepper and feels really bullish about its prospects, even though it is a very expensive machine. The UTEK spokesman seemed to feel strongly that 1x is where the opportunity is at the present time.
I will stick with both stocks with the expectation that they can both be successful in the markets they have chosen to go after.
Was great to hear they have bought back about 20 million dollars worth of stock. And I guess that leaves 80 mil left in their repurchase authorization. People would be foolish to bet against this stock, even if they have doubts about the company's business prospects. They have a lot of ammo in the repurchase cannon.