While a very strong year for the stock has propelled Ultratech (UTEK) above $1 billion in market cap, this is still far from a household name in semiconductor equipment. That could still work in investors' favor, as Ultratech addresses several appealing markets with above-average growth potential. Although valuation does look a little stretched, waiting for this stock to get meaningfully cheaper could be in vain as it offers a clean balance sheet, solid growth prospects, and leverage to improving capital spending in the chip space.
Who Needs Cycles? Strong Q4 Results Stand Out
Historically Ultratech has been just as cyclical as any other chip equipment company, but the demand for laser spike annealing (LSA) and advanced packaging (AP),...
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