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Entries from August 2017

There Is A Bear Case For Applied Optoelectronics But We Can’t See Much Of It

August 21st, 2017 · No Comments

Applied Optoelectronics is a battleground stock with the shorts getting a boost by a surprise softness in Q3 guidance from the company. When parsing the competing narratives, we see little in the Q3 softness for the shorts to rejoice. More specifically, we don’t see any reason for AAOI doing much worse in 100G as it […]

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Tags: AAOI

Universal Display Will Grow Into Its Valuation

August 21st, 2017 · No Comments

A financially very sound market leader facing expanding markets which are in the first innings of development. But the shares are already reflecting most, if not all, of the near future growth. And longer term, the company is not entirely without risk as it’s not totally impossible that competing technology could eventually match it on […]

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Tags: DATA

Tableau Software Steps On The Accelerator

August 11th, 2017 · No Comments

We didn’t see a long case for Tableau, but others clearly do. Re-evaluating the situation, we do see the growth and the operational leverage. However, we still don’t see a path to profitability. Source: Tableau Software Steps On The Accelerator – Tableau Software (NYSE:DATA) | Seeking Alpha

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Tags: DATA

The Next Eurozone Battle Is Shaping Up

August 11th, 2017 · No Comments

The structural design deficiencies in the eurozone have been papered over by the cyclical tailwinds in the economy and balming ECB action. But at the first sight of headwinds, these will reassert themselves with a vengeance. Remedial action is already very difficult as it involves a leap forward in European integration for which there is […]

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Tags: Eurocrisis

Cognex Is A Terrific Company But Already Fully Valued

August 11th, 2017 · No Comments

A well managed company growing solidly with a history of exceeding expectations, often by quite some margin. Management has a keen eye for opportunities, whether these are new segments, applications or acquiring new capabilities. The company is financially very sound as well, producing lots of free cash flow and having $700M+ in net cash on […]

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Tags: CGNX

Silicon Motion Technology Is A Buy

August 5th, 2017 · Comments Off on Silicon Motion Technology Is A Buy

The company has been battered by a shortage of NAND flash and price increases that compress its margins, but these are temporary headwinds. Unless the company has the timing of the Q4 recovery terribly wrong this is almost a no-brainer. The company is well positioned and when the supply issues are resolved, it can ride […]

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Tags: SIMO

The Dollar Is Sick

August 5th, 2017 · Comments Off on The Dollar Is Sick

The dollar has fallen surprising fast against the euro, and the end of that doesn’t seem in sight just yet. The timing and speed of the fall is at least in part curious from an economic point of view as interest rates and bond yields still favor the US. We can’t exclude a modicum of […]

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Tags: currencies

KLA-Tencor Is Firing On All Cylinders

August 2nd, 2017 · Comments Off on KLA-Tencor Is Firing On All Cylinders

The company is firing on all cylinders, its markets are growing, margins are expanding and it is gaining market share. The company also produces an astounding amount of free cash flow. There is still some upside in the shares, as they’re not expensive. Source: KLA-Tencor Is Firing On All Cylinders – KLA-Tencor Corporation (NASDAQ:KLAC) | […]

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Tags: KLAC

Viavi Should Improve From Here

August 2nd, 2017 · Comments Off on Viavi Should Improve From Here

The company is going through a temporary decline in its main markets. But it is restructuring, decreasing opex by $35M a year, and when growth returns, it should emerge healthier. On top of that, it has a considerable opportunity in 3D sensing filters. Source: Viavi Should Improve From Here – Viavi Solutions Inc. (NASDAQ:VIAV) | […]

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Tags: VIAV

Ellie Mae’s Quarterly Miss, An Inflection Point?

August 2nd, 2017 · Comments Off on Ellie Mae’s Quarterly Miss, An Inflection Point?

The danger for expensive growth stocks is always an earnings miss, especially when accompanied by a considerable guidance reduction. This is exactly what happened to Ellie Mae, and the recovery from this won’t be easy or fast. One positive factoid, seats are still increasing, at least part of the underlying growth mechanics are still there. […]

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Tags: ELLI