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JimVanMeerten (63.06)

Electro Scientific lasers in on profits

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November 24, 2010 – Comments (0) | RELATED TICKERS: ESIO

This morning I added Electro Scientific Industries, Inc. (ESIO) to the Barchart Van Meerten Speculative portfolio,  ESIO and its subsidiaries provides electronics manufacturers with equipment necessary to produce key components used in wireless telecommunications, computers, automotive electronics, and many other electronic products. Additionally, they produce a family of mechanical and laser drilling systems for production of printed wiring boards and advanced electronic packaging, as well as machine vision products for manufacturers of semiconductors, electronics and other products.

The stock has good price movement and great Wall Street analysts reports.  The security has a 96% Barchart technical buy signal with 13 new highs in the last 20 session and a 17.80% increase in price.  The stock trades at 14.16 which is 28.49% above its 50 day moving average of 11.95.  The 14 day Relative Strength Index is 72.32%

Wall Street brokerage analysts are very high on this stock with 4 buy recommendations based on projections of double digit growth in both sales and earnings.  They estimate sales will increase 68.30% this year and continue by a 17.90% increase next year.  The fantastic earnings projections are to increase by 266.70% this year, 120.00% next year and continue for a 5 year compounded EPS growth of 14.00% annually.

This stock is not unnoticed by the general investor.  On Motley Fool the CAPS members vote 242 to 11 that the stock will beat the market with the All Stars in agreement 101 to 1.  Fool notes that the last 2 articles by Wall Street columnists have been positive.

This stock has:

1 - Recent positive price momentum

2 - 96% Barchart technical buy signal

3 - Wall Street brokerage buy recommendations based on projections of double digit increases in sales and earnings

4 - A wide and positive investor sentiment

Jim Van Meerten is an advisor to Marketocracy Capital Managementwho uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or emailJimVanMeerten@gmail.com.

Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog. 

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