Tuesday, March 01, 2005
It's been a while since I added a new stock to my portfolio. Today, however, I took the plunge, buying 4,300 shares of ASYS. The company's stock jumped 40 percent when it released a solid earnings report a couple of weeks ago. However, the stock has now given back much of those gains. With a market cap less than half of sales and less than tangible book value, I see little downside risk. Based on fundamentals, the stock should be priced no less than $5. I expect it to rise to that value over the next few months, and if the company delivers another good quarter, it should go even higher.