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Technology Stocks : Speedfam [SFAM] Lovers Unite ! -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (3639)	1/1/2001 4:19:22 PM
From: SemiBull	Read Replies (2) \| Respond to of 3736

Cary, Excellent question. Here's a very quick go from a pure valuation standpoint: Price-Sales Price-Book Price-Cash* 5 Yr Growth** ASYT 1.14 1.61 3.79 26.8% CMOS 1.78 1.62 5.12 23.1% COHU 0.95 1.45 2.75 n/a EGLS 1.49 1.44 1.89 18.2% LRCX 1.45 2.55 4.83 22.1% SFAM 0.58 0.92 1.86 24.2% * Cash per share being a subset of book gives me a sense of ability to withstand a bear market, taking into consideration their possible burn rate, as well as to a smaller degree their potential as a takeover target. ** Growth rates, as you well know are WAGs, sometimes SWAGs. But I suppose we can start a discussion from these until a more conclusive model formulated - at least one for me. I am comfortable with a CMP subsector growth rate of 20-25% (as reiterated by Dataquest during the last past Q). I guess from the above the question is what's a reasonable multiple to pay for the projected growth, assuming you buy into the numbers. If you conclude that they are reasonable close, how much do you attribute to the above financial valuations and installed based and established customer preferences? I guess this is enough rambling on the first day of another millennium. Best wishes for a fruitful '01....SemiBull