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Many investors are interested in growth opportunities that exist in the technology sector, but are wary of the risk that can accompany companies in this space. With this in mind, we focused on tech stocks at the mid cap level. The advantage of looking at companies of this size is that they are more seasoned and yet they have room for expansion. To find companies that present as stable, yet on the cusp of growth, we ran screens to find tech companies that have kept debt to a minimum and also have significant growth projections. The two traits work well together. By keeping the debt down, companies can focus on growth rather than repaying what is owed. Take a look at the list of mid cap tech stocks below to see if any spark your curiosity.

EPS growth (earnings per share growth) illustrates the growth of earnings per share over time. The 5-Year Expected EPS Growth Rate is a long-term annual growth estimate, where the growth projections are made by analysts, the company or other credible sources.

The Debt/Equity Ratio illustrates how aggressively a company is financing its growth via debt. The more debt financing that is used in a capital structure, the more volatile earnings can become due to the additional interest expense. Should a company's potentially enhanced earnings fail to exceed the cost associated with debt financing over time, this can lead the company toward substantial trouble.

The Long-Term Debt/Equity Ratio is a variation of the traditional debt-to-equity ratio; this value computes the proportion of a company's long-term debt compared to its available capital. By using this ratio, investors can identify the amount of leverage utilized by a specific company and compare it to others to help analyze the company's risk exposure. Generally, companies that finance a greater portion of their capital via debt are considered riskier than those with lower leverage ratios.

We first looked for mid cap stocks. From here, we then looked for companies with projected high growth, measured by 5-year projected EPS growth above 25%. We then looked for companies that operate with little to no debt (D/E Ratio<.1). We next screened for businesses that have maintained a sound long-term capital structure (Long Term D/E Ratio<.1). We did not screen out any sectors.

Do you think these mid-cap stocks have a positive future in store? Use our list along with your own analysis.

1) Palo Alto Networks, Inc. (NYSE:PANW)

SectorTechnology
IndustryNetworking & Communication Devices
Market Cap$4.46B
Beta-

PANW stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate50.00%
Debt/Equity Ratio0.00
Long Term Debt/Equity Ratio0.00
Short Interest0.43%

Palo Alto Networks, Inc. operates a platform that allows enterprises, service providers, and government entities to secure their networks and safely enable various applications running on their networks. The company's platform comprises Next-Generation Firewall, which delivers natively integrated application, user, and content visibility, as well as control within the firewall through its proprietary hardware and software architecture. It offers various appliances with features, such as application visibility and control, user identification, site-to-site virtual private network (VPN), remote access SSL VPN, and quality-of-service. The company also provides Panorama, a centralized security management solution for control of its appliances deployed on an end-customer's network; and is used for centralized policy management, device management, software licensing and updates, centralized logging and reporting, and log storage.

In addition, it offers virtual system upgrades; and subscription services for intrusion detection and prevention, and URL filtering, as well as for protection of mobile users, and protection against modern targeted malware. Further, the company provides support and maintenance services; and professional services, such as application traffic management, solution design and planning, configuration, and firewall migration, as well as education services. It serves the enterprise network security market, which consists of firewall/VPN, unified threat management, Web gateway, intrusion detection and prevention, and VPN technologies. Palo Alto Networks, Inc. sells its products through distributors, resellers, and strategic partners, as well as directly to end-customers in education, energy, financial services, healthcare, Internet and media, manufacturing, public sector, and telecommunications industries in approximately 80 countries worldwide. The company was founded in 2005 and is headquartered in Santa Clara, California.

2) Atmel Corporation (NASDAQ:ATML)

SectorTechnology
IndustrySemiconductor - Broad Line
Market Cap$2.86B
Beta1.20

ATML stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate38.85%
Debt/Equity Ratio0.00
Long Term Debt/Equity Ratio0.00
Short Interest3.84%

Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit (IC) products. The company's Microcontrollers segment provides various proprietary and standard microcontrollers, such as Atmel's capacitive touch products, including maXTouch and QTouch, AVR 8-bit and 32-bit products, ARM-based products, and Atmel's 8051 8-bit products. Its Nonvolatile Memories segment offers serial interface electrically erasable programmable read-only memory and serial interface flash memory products; and parallel interface flash memories, as well as parallel interface electrically erasable programmable read-only memory and erasable programmable read-only memory devices. The company's Radio Frequency and Automotive segment provides products designed for the automotive industry, including automobile electronics, networking and access systems, and engine, lighting, and entertainment components.

This segment produces and sells wireless and wired devices for industrial, consumer, and automotive applications; and offers foundry services, which produce radio frequency products for the mobile telecommunications market. Its Application Specific Integrated Circuit segment provides custom application specific ICs designed to meet specialized single-customer requirements of high performance devices in a range of specific applications. This segment provides products that provide hardware security for embedded digital systems; and products with military and aerospace applications, as well as develops application specific standard products for space applications, power management, and secure crypto memory products. The company sells its products directly to original equipment manufacturers; and indirectly through a network of distributors. It has operations in the United States, Asia, Europe, South Africa, and Central and South America. Atmel Corporation was founded in 1984 and is headquartered in San Jose, California.

3) Sina Corp. (NASDAQ:SINA)

SectorTechnology
IndustryInternet Software & Services
Market Cap$4.49B
Beta1.46

SINA stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate28.03%
Debt/Equity Ratio0.00
Long Term Debt/Equity Ratio0.00
Short Interest10.46%

SINA Corporation provides online media and mobile value-added services (MVAS) in the People's Republic of China. It provides advertising, non-advertising, and free services through SINA.com, Weibo.com, and SINA Mobile. SINA.com offers free interest-based channels that provide region-focused format and content, including news, sports, automobile-related news, finance, entertainment, luxury, technology, digital, tools, collectibles, video, music, and wireless application protocol, as well as interactive platform for fashion-conscious users to share comments and ideas on a range of topics, such as health, cosmetics, and beauty. The company's micro blogging platform, Weibo.com, enables its users to follow the hottest topics being discussed online, as well as discussions related to people they know. Weibo accounts consist of celebrities, commercial enterprises, government entities, and grass root Internet users. Its SINA Mobile service allows users to receive news and information, download ring tones, mobile games and pictures, and participate in dating and friendship communities.

The company also offers SINA Game, which serves as an interactive platform that provides users with downloads and gateway access to popular online games; SINA eReading, a shop for book reviews; SINA.net, an enterprise solutions platform to assist businesses and government bodies; and SINA Mall, an online shopping Website. In addition, it provides a platform for Chinese bloggers; photo-sharing platform; free email, VIP mail, and corporate email for enterprise users; audio and video-based instant messaging tools; proprietary search technology; and classified advertising services, as well as hosts topic-specific discussion forums in Chinese language; and creates user-maintained and supported online communities. The company has strategic cooperation agreement with China Unicom (Hong Kong) Limited. SINA Corporation was founded in 1999 and is based in Shanghai, China.

4) Fusion-io, Inc. (NYSE:FIO)

SectorTechnology
IndustryData Storage Devices
Market Cap$2.86B
Beta-

FIO stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate31.00%
Debt/Equity Ratio0.00
Long Term Debt/Equity Ratio0.00
Short Interest25.51%

Fusion-io, Inc. engages in the development, marketing, and sale of storage memory platforms for enterprise data decentralization primarily in the United States. Its integrated hardware and software platform enables the decentralization of data from legacy architectures and specialized hardware. The company's storage memory platform includes ioDrive, ioFX, and ioCache products; directCache data-tiering software; ioTurbine virtualization software; ioSphere platform management software; and ION data accelerator software. Its products are used in various markets, such as financial services, Internet, technology, education, retail, manufacturing, energy, life sciences, and government. Fusion-io, Inc. sells its solutions through its direct sales force, original equipment manufacturers, and other channel partners. The company was formerly known as Fusion Multisystems, Inc. and changed its name to Fusion-io, Inc. in June 2010. Fusion-io, Inc. was founded in 2005 and is headquartered in Salt Lake City, Utah.

*Company profiles were sourced from Google Finance and Yahoo Finance. Financial data was sourced from Finviz on September 15, 2012.

Source: 4 Low-Debt Mid-Cap Tech Stocks Headed For Growth