(cont'd from previous post)
Obviously, there are some individual differences in these. Cymer, for instance, got run way up on momentum and so had an artificial high. Semitool was also run up after the news about copper connectivity chips hit. TER is high because of a lack of Asian exposure. Brooks is looking pretty sucky, and IPEC has a load of debt that will increase its volatility on the downside.
That said, you can see some bargains here relative to the general sector. I don't follow Veeco that closely, but I've had some short-term and it still looks like a bargain, after a strong report in the last few weeks. LAM seems low. I've been saying for weeks that Speedfam was a bargain, notwithstanding depressing news about CMP exposure to Asian DRAM fabs' insolvency. A bargain at 21 and still a bargain at 28. I bought some KLIC this morning on a general impression of being underpriced, due to earnings warnings in their last report, and this tends to confirm my impression.
The biggest surprise here, to me, is CMOS. I think I'm gonna' buy a couple of shares and salt them away for a year.
Please post any impressions of reasons why any of these are too low, or too high, or deserve to be where they are. But this is strictly FWIW, and you might want to double-check my calculations. |
