Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Senior Technology Analyst, Japanese Equities

🇯🇵 JAPAN • January Relative Price Scores -  Actionable Mean Reversion Trades

Lasertec – Overvaluation Even More Phenomenal Than the Business

Lasertec – A Miss At Stratospheric Valuations But That Isn’t Even The Biggest Problem

🇯🇵 JAPAN • New Post Bubble $ High + Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​01/​​​08

Gravity Works As WeWork Doesn't; Now Plan B

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​01/​​07 - Izumi, Shift, NEXTAGE

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Lasertec has produced stupendous results, but is it worth 104x management's EPS guidance for FY Jun-21 and 96x cash flow per share? As the company aims to more than double R&amp;D spending to 12% of sales, we think a substantial amount of short-term profit is likely to be traded for long-term sales growth, and that the shares are due for some profit taking.In <a href="https://www.smartkarma.com/insights/japan-new-post-bubble-high-results-revisions-01-08" target="_blank" data-smartkarma-citation="insights:46918" rel="noopener">🇯🇵 JAPAN • New Post Bubble $ High + Results &amp; Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​01/​​​08</a> , Campbell Gunn writes that: As the market factors in the possibility of a return to commodity inflation and digests another State of Emergency, the Technology Hardware Sector joins Electrical Equipment and Machinery in Overbought territory. Management is guiding for flat orders this fiscal year and while this is probably conservative, it would be not be inconsistent with the orders trend in recent years. New orders jumped 80% in FY Jun-20, but were up only 4% the year before.Lasertec's fundamentals are sound. This is a trading idea.

Lasertec has produced stupendous results, but is it worth 104x management's EPS guidance for FY Jun-21 and 96x cash flow per share? As the company aims to more than double R&amp;D spending to 12% of sales, we think a substantial amount of short-term profit is likely to be traded for long-term sales growth, and that the shares are due for some profit taking.In 🇯🇵 JAPAN • New Post Bubble $ High + Results &amp; Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​01/​​​08 , Campbell Gunn writes that: As the market factors in the possibility of a return to commodity inflation and digests another State of Emergency, the Technology Hardware Sector joins Electrical Equipment and Machinery in Overbought territory. Management is guiding for flat orders this fiscal year and while this is probably conservative, it would be not be inconsistent with the orders trend in recent years. New orders jumped 80% in FY Jun-20, but were up only 4% the year before.Lasertec's fundamentals are sound. This is a trading idea.

Lasertec (6920 JP): Overbought, Take Profits

Lasertec Corp

Lasertec (6920 JP): Overbought, Take Profits