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September 12th, 2014 · Comments Off on New Model Portfolio
Comments Off on New Model PortfolioTags: Model Portfolio
February 8th, 2018 · Comments Off on Electro Scientific Has Another Blast-Out Quarter
- Electro Scientific is selling off nearly 20% on absolutely stellar results.
- There is nothing in the figures, nor was there anything remotely concerning that surfaced during the Q3CC.
- While not all quarters are going to be as good as these, the company is in much better shape now and is well prepared to smooth out a cyclical downturn.
- That cyclical downturn isn’t in sight, given orders and backlog.
- And given rising underlying demand and increasing variety of sources, the cyclical nature will be less going forward.
Comments Off on Electro Scientific Has Another Blast-Out QuarterTags: ESIO
February 8th, 2018 · Comments Off on FormFactor Is In Good Shape
- The company made a sensible acquisition a couple of years ago and has done much better since.
- The share price has fallen back quite a bit on sector worries, but we believe there are still multiple drivers in place for the company.
- On top of that, the shares really aren’t expensive.
Comments Off on FormFactor Is In Good ShapeTags: FORM
February 8th, 2018 · Comments Off on Coherent Seems In Good Health To Us
- Not for the first time, Coherent shares sold off 20%+.
- This isn’t out of the ordinary for a company which experienced huge share gains and supplies at least in part to a cyclical industry.
- But backlog is sufficiently substantial to smooth a few rough quarters out and valuation still seems reasonable to us.
Comments Off on Coherent Seems In Good Health To UsTags: COHR
February 6th, 2018 · Comments Off on Lam Research Is Slowing Down But The Shares Are Still Attractive
- Lam Research had another stellar quarter with shipments rising at 50% y/y.
- However, 2018 will see a considerable slowdown in this torrid pace.
- We’ll investigate the main growth drivers to see whether these can still drive the shares higher despite the slowdown in growth.
Comments Off on Lam Research Is Slowing Down But The Shares Are Still AttractiveTags: LRCX
February 6th, 2018 · Comments Off on Just What The Doctor Ordered
- Two years ago, the world economy looked downright scary, with secular stagnation ravaging much of the developed world, stagnant wages, low productivity growth and various serious crisis spots.
- But growth returned and it took the immediate sting out of these dangerous situations, like a eurozone break-up, Chinese capital flight and emerging market dollar debt.
- While we have new problems which are much more benign, the old problems haven’t disappeared though.
February 6th, 2018 · Comments Off on KLA-Tencor Is Winning Market Share
- With growth stalling for a couple of quarters and little room for margin expansion, there seem to be few levers left for the company to boost its share price substantially.
- However, growth is supposed to return in the second half and the company still expects to grow faster than the overall market.
- The tax benefits and still fairly reasonable valuation still provide some fuel for the share price.
Comments Off on KLA-Tencor Is Winning Market ShareTags: KLAC
January 29th, 2018 · Comments Off on HollySys Automation Is Growing Again
- The company seems to exit a few lean years when demand from railroads declined significantly.
- Industrial automation should provide it with a more stable, secular growth.
- Add to that foreign expansion, a possible resurgence of demand from railroads, a sound balance sheet and a reasonable valuation.
- And a 50% guided increase in net income this year, so the shares could go higher still.
Comments Off on HollySys Automation Is Growing AgainTags: HOLI
January 29th, 2018 · Comments Off on Texas Instruments Will Consolidate Short Term
- With earnings and Q1 guidance inline, rising inventories and a somewhat surprising tax charge, it’s only natural that the shares of Texas Instruments sold off.
- Especially after the shares already experienced a very powerful rally the last 6 months or so.
- However, after some consolidation, we think the upward trend will resume, driven by good tailwinds.
Comments Off on Texas Instruments Will Consolidate Short TermTags: TXN
January 29th, 2018 · Comments Off on Rising U.S. Risk Premium?
- Contrary to the expectation of many pundits, the dollar has softened considerably.
- We explain why this is surprising and discuss one proposed theory in an attempt to explain this, looking at ‘credit inflation.’
- We also discuss another idea, a rising U.S. risk premium due to increasing U.S. turbulence.
Comments Off on Rising U.S. Risk Premium?Tags: The Markets
January 28th, 2018 · Comments Off on Colgate-Palmolive To Benefit From The Upturn In The Global Economy
- We’re experiencing a synchronized boom in the world economy and the IMF has just increased its global growth outlook.
- Colgate-Palmolive should benefit from this, as well as the falling dollar.
- However, there are some factors that complicate this promising picture.
Comments Off on Colgate-Palmolive To Benefit From The Upturn In The Global EconomyTags: CL