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Portfolio Manager for the last 10 years. Managed Long Only and Hedge Funds. Core focus today: Agriculture & Alternative Energy
  • WFR – Time to look at the valuation (+44% upside)
    WFR was trading down 10% below $14 on Friday. What happened? Not that much indeed! WFR reported 3Q09 results in line with its preannouncement on 9/8/2009. Margin will be lower than expected of around 10-14%, confirming, if not known yet, that MEMC business is a commodity business. MEMC also announced that it was acquiring SunEdison for $200M, an accretive deal in 2H10.
    As a reminder: MEMC is a semiconductor wafer and solar wafer manufacturer. MEMC sells its products to most semiconductor device Manufacturers. The company operates nine plants that are strategically located close to the major semiconductor markets in the U.S., Europe, and Asia.
    What makes me believe that we have a good entry point on MEMC between $13 and $14?
    More »
    Tags: WFR, Solar;LDK
    Oct 26 08:00 am | Link | Comment!
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