Analyst Comment Street estimates reduced to reflect industry commentary, namely capex push-outs/delays by semiconductor players and subsequent lowered outlooks provided by Wafer Fabrication Equipment players. Longer term forecasts are unaffected. For 2019, we are now calling for Sales/EBITDA/EPS of $53.3M/$19.0M/$0.11, down from $58.7M/$21.9M/$0.13.
Target reduced from $3.25 to $3
"As reflected in our new estimates, we acknowledge that capital expenditure push-outs have slowed the near-term growth profile of the Company, but we feel the recent stock softness is overdone and more than prices-in the slowdown. The ebbs and flows of quarterly revenues is business as usual. Simply put, we view these fluctuations, and the subsequent share price weakness, as an opportunity to consolidate a position in a best-of-class business with secular tailwinds supporting double digit revenue growth for the foreseeable future."