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Technology Stocks : HMT Tech..281% sales growth at a trailing PE of only 17
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To: grace who wrote (270)8/27/1996 5:14:00 PM
From: RT   of 317
 
Grace,

Some more info that I have collected. HMTT's biggest competitor is not STMD, rather it is KOMAG. All three companies in this sector are selling at very low PE's compared to their growth rate. This shows that the sector is out of favor. In case of STMD, the PE of 6 is justified, since they have lost their biggest customer Maxtor recently. However, a PE of 7 is unjustified for KMAG since they do not have any such problems. Komag has recently stated that their earnings will be under pressure because they are moving to higher capacity thin-film disks. Given this situation for the sector, PE of 12 for HMTT is ok for now. This shows that very large upward move for HMTT is unlikely in short term. In the longer term I am very bullish about HMTT, since whether anybody says it or not, HMTT has the best technology of all 3 companies. Not only that, they are probably better than anybody else in the world including Seagate etc. So hang on for some time while HMTT stays in 14.5/17 range.

Regards.
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