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Technology Stocks : FSII - The Worst is Over?
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To: Donald Wennerstrom who wrote (1262)7/27/1997 1:00:00 PM
From: Donald Wennerstrom   of 2754
 
Perhaps someone has some comments to the following situation. It has to do in comparing FSII to SMTL. Both of these companies seem to be strong players in the semi-equip area. In some areas they compete. They both look like they can grow in the future, however, the market is evaluating FSII much greater than SMTL at present (in terms of P/E for FY-98).

In the last 7 weeks the price of FSII has grown by 26 percent, SMTL by 18 percent. As of last Friday, FSII had a P/E of 23, SMTL had a P/E of 13.

On last Tuesday, 7/22, SMTL announced quarterly and nine month financial results. Sales were up 21 percent and net income up 12 percent. However, from Wednesday to Friday the closing price decreased by 5 percent. To me, with this "reasonable" financial report and a forward P/E of 13, the stock price should continue to increase.

This SMTL performance of the last two days makes me concerned with FSII's ability to continue in the near future with further stock price increases.

Don W.
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