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Tech Randoms: Sunpower, Evergreen Solar, Teradyne


Who's up and down in the industry.

  • Or should this be called "tech for ransom" until we have clear short rules? I'll say we won't see a series of higher highs until the SEC acts and we have pretty much straightlined down since August 11th.

  • Sunpower (SPWR) says pricing will be down 10-20% next year and this seems to be having more impact on the solar group than MEMC Electronic Materials' (WFR) inline update or oil falling. Here's the thing: this pricing forecast is as expected at SPWR and may actually spur more demand. I'll be on the SPWR train again but am glad I sold the last big spike. Winky Wright, as Todd likes to say.

  • Cypress Semi (CY) under $26.50 and SPWR under $80 are things I'm watching for.

  • At current levels I feel MEMC Electronic Materials (WFR) and Evergreen Solar (ESLR) are the best buys in the space and another fave is LDK Solar (LDK) after dropping a quick $7. But trading prevails here as readers will note, I sold the last spike in this name as well. At some point, these names may be better investments than trades, but not yet.

  • Speaking of ESLR, it may be getting near the "add zone" again. It's a buy in $8's and a sell above $11 for intermediate cycle trading.

  • Chips are on the chopping block yet deals and deal talk is in the air. Teradyne (TER) buys Eagle Test Systems (EGLT), but for a low premium deal here. TER gets stronger for a good price.

  • Vishay Intertech. (VSH) and International Rectifier (IRF) are still talking according to Barron's tech blog. So is IRF the next name (like Diebold (DBD)) that could catch a bid or two as they keep fighting accounting issues. VSH's first bid for IRF was at book and you can bet VSH would love to buy IRF at book.

  • Akamai (AKAM) has all the looks of becoming a teenager. Say it ain't so, AKAM. I'm taking a defined stab here and hoping AKAM avoids the teens.

  • Is it just me or is the Beige Book a "master of the obvious"?

  • Qualcomm (QCOM) says sales cycles are getting longer.
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Position in WFR, ESLR, TER, AKAM.

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