As usual, good work Don. PLAB makes photomasks, which are not quite as cyclical as other types of equipment - designs are always being upgraded and revised so new masks are needed - so in a way it makes sense that it is not impacted quite as much as some of the others. Also, they are gaining market share from a recent article, and have the capability to make finer feature masks.
I have a good slug of PLAB with a split adjusted basis of $2.95 that I've held for four or five years now thru ups and downs, and I guess hat has influenced my buy and hold philosophy even in volatile sectors such as semi equipment. It makes sense to add when things are cheap, and reduce a position when things get more fairly valued, but I have done neither with PLAB and things look pretty good. In fact I looked at adding to PLAB last week, but based on valuations put the money elsewhere for better or worse (it is a very good company however).
You noted that <<the problem is determining when to buy and sell in the semi-equips>> and you are still gathering data. Do you have a gut off the cuff feeling as to where we are at Don now in the semi equipment market? I know you've got great stats, and I'm real curious where you think we are going this year and next.
Also interesting to note that some brokerages lowered their opinion of the semi equipment sector in the last few weeks, and others started coming out with buy recommendations. Nothing like two opinions to make a market :).
Again, great stats, thanks for sharing.
Best - Joe |
