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JimVanMeerten (67.58)

Ultratech is high tech

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June 22, 2010 – Comments (0) | RELATED TICKERS: UTEK

On Barchart Portfolio Blogs I bring to your attention stocks you might want to consider for your portfolio. Ultratech Stepper, Inc. ( UTEK ) develops, manufactures and markets photolithography equipment designed to reduce the cost of ownership for manufacturers of integrated circuits, including advanced packaging processes, photomasks, thin film magnetic recording devices and micro-machined components. The Company supplies step-and-repeat systems based on one-to-one and reduction optical technology to customers located throughout North America, Europe, Japan and the rest of Asia.


The stock has been on a roll with 15 new highs in the last 20 trading sessions including 5 in the last 5. Barchart's technical indicators have 12 of 13 buy signals for an overall 96% buy. The stock had a 19.08% increase in the last month and trades around 16.10 with a 50 day moving average of 14.58.


Although this stock doesn't have a high investor sentiment with very mixed comments on Motley Fool; Wall Street brokerage firms are very high on this stock. They have 3 buy and a hold report published.

Their forecasts are out of sight and double digit. Sales are estimated to increase 32.40% this year and 32.10% next year. Earnings are predicted to increase by 400.00% this year, 120.00% next year and continue at a 5 year compounded growth rate of 16.50%. I had to read these twice to make sure they weren't misprints.

I'm adding the stock to the Barchart Van Meerten New High portfolio because:
1 - The stock had recent price appreciation of 19.08% this last month

2 -  Barchart has 12 of 13 technical buy signals for a 96% buy

3 -  Wall Street has 3 buy and a hold reports published based on double digit estimates of increases in sales and earnings

Jim Van Meerten is an investor who writes on investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.

Disclosure: No positions in the stock mentioned at the time of publication

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