No postings on the ACTL thread in over a week; thus it dropped off the active roster. Allow me to restart the dialog with a bit of data:
According to First Call consensus, ACTL EPS for Q3 will be $0.18, Q4 will be $0.20, 1996 will be $0.70, and 1997 will be $1.04.
The PE's are therefore ~23 times trailing 4 quarters, ~26 times calendar 96, and ~17 times 97. Earnings growth 97 to 96 is 49%.
First Call analysts rating is 1.3 (Buy = 1, buy/hold = 2, hold = 3). To put that in perspective, CSCO is 1.2, CY is 2.5, INTC is 1.7, XLNX is 1.7, and ALTR is 1.9.
Now, with these data in hand, would anyone care to comment on target price for six months and 12 months out? I'll go on record predicting mid twenties in the next year, provided ACTL delivers no surprises, and that they project continued strong growth beyond '97, which I think they can do. I am comfortable projecting at least 25% EPS growth per annum for the next three yrs, so mid twenties current PEs should be well supported.
Not to mention they'd be an attractive M&A play if semi consolidation picks up steam.
Comments?
-tt |
