I don't know if anyone on this thread follows PRIA (except for Bob Grutza who I noticed just posted to that thread) but it was up 5 bucks today to 22. Like Cymer, PRIA dominates its category (automation equipment for handling chips). Its float and short interest is similar to Cymer with a short interest of 1.6 million shares out 20 million issued. So I am sure that part of today's run up was short covering.
However, what happened to PRIA today is only a tiny example of what it's going to be like for Cymer. I own both companies, but there is no comparison on quality of management and the position of the company in the industry. There is nothing wrong with PRIA, but Cymer's management and lock on the future win hands down.
I believe PRIA's biggest customer is Intel (flame me if I'm wrong) so what's good for Intel is good for PRIA. Consequently, PRIA should take off sooner. However, I have been watching Cymer closely on a level II screen, and the big sellers are gone. It is just that the buyers haven't returned en masse. When they do, and more are sure to come as the stepper companies' laser inventories are drawn down, Cymer's going to rocket. Today's prices will seem like a bad dream to us long suffering longs, and the people who have only been accumulating for the last few months will be giddy with orgasmic joy.
Jay |
