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Technology Stocks : Ultratech Stepper
UTEK 30.230.0%Jun 5 5:00 PM EST
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To: donss who wrote (1952)12/29/1997 4:12:00 PM
From: Jurgis Bekepuris  Read Replies (4) of 3696
 
Hi guys,

> I don't understand why the SI is still so high,
> do the shorts really expect more
> downside beyond what we have experienced?

I own UTEK puts as a hedge on my long
semi-equip positions, so I will answer
your question. I looked at the semi-equip universe
for a stock that is expensive and would
most likely fall because of earnings shortfall
and other negative news.

UTEK was the one that fit the bill:

1. PSR. UTEK has one of the highest PSRs in the industry.

2. Exposure to DD segment. After the closure of
SEG's plant in Ireland, the near future of DD equipment sector
is pretty cloudy.

3. Uncertain prospects of mix-and-match steppers
during the SEA trouble.

4. Small drop of stock price from the summer highs.

I also considered the following positives
of the long position (negatives for short or put position):

1. Great company with outstanding management.

2. $8 cash per share.

3. Prospects of great Ultrabeam and P-GILD future.

I expect to see UTEK at $14-$17 range in the
next year.

Disclaimer: All flames will be cheerfully ignored.
My opinions and my portfolio have changed since posting of
this message. :-)

Have a happy Holidays and a great New Year

Raimondas
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