Hard to show good results when your business involves selling a commodity product whose price has fallen into the dumpster.
Would love to see 10. I stupidly failed to own INFN stock when it made the jump from 9 to 13. I can't see buying it at current price but if it goes back to 9-10 I will look forward to the opportunity for a doover.
Cheap stock price, but judging from their revenue, I would guess these guys never found any new product areas outside their old mainstay of dsl modems.
CHK and UPL are the ones I'm most interested in. I owned both of them off and on, lately I have been out of petro stocks thank god.
Now they are getting pretty cheap. Yes I like UPL as a low cost producer of NG that serves the west coast market which is stronger than the east now. Quite a contrast from a few years back when rocky mountain gas sold at a steep discount to east coast gas prices because there wasn't much pipeline capacity to ship it to market so it was just kind of sitting there without an affordable way to get it to market.
I haven't looked at CHK much lately but what always seemed appealing to me was their massive holdings of developable oil and gas properties. They've done some deals but I would imagine they still have most of their property. And that was pretty good getting over 5 billion dollars for some Marcellus property which is pretty junky these days because of the glut of natural gas in the east coast markets.
I hope they use most of the proceeds to shed some debt. I don't like debt and I'm not the only one who has been wary of CHK because they have tended to carry so much debt.
Anyway, my decision now is whether to buy some shares of these or see if the depression in the oil/gas business gets even worse and it becomes possible to buy these even cheaper. When UPL was 24 I was thinking I would buy if it dropped to 20 and now it's 17 but I am not quite ready to pull the trigger yet.
Today's gain has tapered off. Maybe even worth buying a few more shares. This company's Enterprise Value is only a little over 2x its gross annual profit. When that ratio is 1-2 for a tech stock it is a screaming buy. I bought techs sporting EV/GP ratios of 1-2 in 2002 and after dropping 40% at first they proceeded to go up 600% over the next two years. (And would have gone up even more for me if I hadn't sold too early!)
KLIC is a tremendous buy.
The Assembleon purchase seems really positive to me also. Got a company that should strengthen KLIC's position in advanced packaging, and got it for a reasonable price. Just had to peel a few bills off their massive wad of cash to buy that company. Should help make this a growth company when the investor community thinks it is in a stagnant business.
Looked at their numbers a little closer. First of all Yahoo shows their enterprise value something like 260-270 mil but it looks to me more like 240 mil. Yahoo sometimes gets those wrong, although in this case the apparent discrepancy is fairly modest.
And they appear to run about 50% gross margins. And the projected revenue next year that Yahoo shows is over 200 mil.
So if they make revenue of 200 mil at 50% gross margin then their annual gross profits will be 100 mil.
And that means their enterprise to projected gross profits ratio is about 2.5. And that's not bad at all. I consider an EV/GP ratio on a tech company of 1 to be dirt cheap, 2 to be cheap, and 3 to be a decent value if it is a company with decent growth prospects. So 2.5 is not bad.
And in today's volatile markets I prefer tech stocks that have very good balance sheets. And with half or so of their market cap in cash or cash equivalents, these guys certainly have a strong balance sheet.
I will kind of be hoping the stock goes lower so I can buy more shares cheap. I would definitely scarf some more down if this dips to 15.
Yes, it looks like a pretty good value, but I'm not sure I'm quite ready to pull the trigger. Oil/gas business is obviously a treacherous one right now. There could be a final blowdown before some weak companies go belly up and the business starts a gradual recovery.
When I used to own/follow DVN it held a very small amount of debt compared to most oil/gas companies. I see now they have about 9 billion net debt with a market cap of 22 billion. Now that is not as heavy of debt as some oil and gas co's but it is a lot more than they used to carry. What is that all about? I presume they got aggressive in either buying up new properties or in developing properties they already had, perhaps largely targeted at trying to make liquids a larger percentage of their production?
Anyway, that makes DVN not quite as attractive to me as an investment as it once was.
1). New implanter family opens up 85% of the implanter market, previously they focused on high energy, 15% of the implanter market.
2). Purion platform: Common platform. Implanter consists of end station and beam line. Using a common platform for the end station cuts cost and allows gross margin to be increase.
3). Advanced spot beam with advanced energy filters. Purion platform delivers highly uniform angle and dose control.
4). Advanced source technology has much longer lifetime, an especially important advantage for non doping species.
5). When you use all the Purion tools you get operations advantages associated with commonality across the platform.
6). Market is entering an upswing in 2015.
7). Discusses successful Purion penetration into various markets.
8). Shipped 5 evaluation and 3 revenue Purions in 2014. Up to much faster start than anticipated even 6 mos ago.
9). Purion XE has xx market share. Didn't catch the number, something like 75% or 80%.
10). Customers want two strong sources for implanters.
took a leak, may have missed a few points
11). Aiming for gross margins to get to upper 30s and then to 40%.
12). High current implants big opportunity in various markets. Represents 60% of implanter TAM and key technology for leading-edge markets.
13). Low metals content, and important criteria for users.
14). For non leading edge products, customer focus is on productivity.
15). 7-12% market share now, goal 20-40%, bulk of growth Purion H high current. Aim to get up to 460 million revenue.
Yes there was guidance. I don't recall the details though. Something like fifty mil rev, a dime or so profit, I think it was moderately positive.
Always been intrigued by ACLS. One of the two companies in implanters, one of the highest tech pieces of equipment in semiconductor manufacturing. The other being a 800 pound gorilla in the business.
Struggled in recent years. But if this new product line is as good as they claim it is they could be BIG. Maybe then get bought out by someone like LAM for 8-15 dollars per share.
I'm buying a bit on Monday.
Hm, the analysts are saying sell low. Analysts are ALWAYS wrong, that's why they get paid the big bucks.
I bought some more.
Just became aware of Camtek due to their suing the company that I own some stock of.
Actually looks like a good value stock. They ought to forget about the vendetta and concentrate on their business, though.
Also, a company with revenue around 100 mil is an awfully small player in this market. It seems like they will inevitably get bought out. I guess since they are the plaintiff in the legal matter it won't be viewed as a liability for a potential buyer of Camtek, except insofar as it siphons money for legal fees that ought to be used for the busienss. But a buyer can fire the lawyers as soon as the acquisition is completed.
So I am bullish on Camtek and will probably buy some shares today.