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Technology Stocks : Kulicke and Soffa
KLIC 51.34+6.3%Jan 5 3:59 PM EST
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From: scott_jiminez11/29/2000 9:00:53 AM
   of 5482
 
The ultimate test of a contrarian’s mettle....

Perceptions for a stock don’t get much worse than this (data for Klic collected today)...

- 6 mil shares short in November, a 12 month high (a ~4.0 cover ratio, 3X the average for the stock and very close to the 12 month high...set in October);

- a Zack’s rating of 2.8, the LOWEST (38th out of 38) in the electronics manufacturing group;

- 15 analyst downgrades in the last 3 months, no upgrades;

- 11 analysts now produce an average estimate for q1, FY2001 of $ -0.02 vs. $ +~0.60 a couple months ago;

- 13 analysts now produce an average estimate for FY2001 of $ 0.52 vs. $ ~3.00+ a couple months ago.

If people REALLY believe that analysts almost always get it wrong, that they are almost always at the MOST EXTREME of opinions when a stock (or a sector) is at an absurd extreme valuation, then there’s a patently obvious case that Klic is at one of those extremes...and that the analysts and institutions are responding accordingly.

In short, there are some fairly clear signs here, especially that Zack’s rating, that Klic is quite a buy here.

Hopefully all of us have learned that 'But Klic is different' was proven resoundingly false over the past couple of months.

The prediction of the death of back end business may be early. Indeed.
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