Very true, and MTSN would be at the top of my "buy" list
of beat up semi-equips if not for one thing, the three way merger. That provision for the low stock price possibly forcing a cash payment to Steag owners could easily erase most of that cash. Even if that was waived, the new number of outstanding shares would still dilute the net cash per share. I'd be a big buyer of MTSN at these current
prices, IF I knew the merger was dead.
Another low price to cash semi-equip I really like
is BRKS. They hit a low of around $8 in
the late 1998 down cycle, and at the time they had $8
in cash. There has been no split, they had a SPO
this year and now have over $13 in cash per share, and
earnings are good also. Stock closed Fri $24 13/16,
has a recent low of around $22 and I have started buying
this past week at $23, will by more if it breaks below $20,
and again if it gets to the net cash per share.
I need to visit your "Low price to cash" thread, the
number of stocks meeting that criteria has been growing
rapidly lately!
Regards, Eric. |
