NetApp Inc. (NASDAQ: NTAP) traded around $62 on last look. It has a market cap of $15.3 billion and a 52-week trading range of $54.50 to $88.08. The consensus target price is $71.58. The stock is valued at 11.17 times expected earnings, and it has a price to free cash flow ratio of 16.99.
NetApp has been public since the mid-1990s and has migrated from a storage area network player into a leader for cloud computing. It has managed to grow revenues handily over time and is expected to keep seeing single-digit sales growth in the years ahead. It also comes with a 3% dividend yield, and the stock is still only valued about half of its peak value during the tech bubble of 2000.
Applied Materials Inc. (NASDAQ: AMAT) was trading around $41, in a 52-week range of $28.79 to $51.04. It has a market cap of $38.7 billion and a consensus analyst target of $52.25. The stock is valued at 11.27 times expected earnings and 19.35 times free cash flow.
Applied Materials is the leader when it comes to capital spending for semiconductors. Every generation of advances in chip building and chip evolution eventually goes through Applied Materials. It can see big ups and downs based on the chip cycles and the economy, but it has almost 40 years of history as a public company, and some investors might argue that it deserves a better earnings multiple and market cap considering its market leadership and growth. Still, revenues are expected to take a big hit this year, and next year’s recovery isn’t expected to be a high. It pays investors a 2% dividend yield, which can easily grow if it pays down some of its debt.
Lam Research Corp. (NASDAQ: LRCX) was trading at about $180, with a consensus target price of $222.00. It trades in a 52-week range of $122.64 to $209.50 and has a market cap of $27.0 billion. The stock is valued at 12.14 times expected earnings and 12.94 times free cash flow.
Lam Research has seen its share of volatility, and it has been public since the mid-1980s. Its shares may be down from the high, but it is still close to 10 times higher than at the bottom of the 2009 selling peak. Lam Research is also considered at risk with China, and analysts see a double-digit revenue slide back under $10 billion in 2019, with only a modest recovery in 2020. That said, Lam is paying close to a 2.5% dividend yield based on current prices.
Corning Inc. (NYSE: GLW) traded near $31. It has a market cap of $24.5 billion and a 52-week range of $26.87 to $36.56. The consensus target price is $36.87. The stock is valued at 14.00 times expected earnings and has a price to free cash flow ratio of 12.59.
Corning is as old school as it comes, and it even used to be called “Glassworks” by traders and investors. The company is a leader in glass for TVs, monitors, smartphones, tablets and so on. Whatever you use for your computing, you probably have run across the company front and center without ever thinking about it. Corning always seems to command a low earnings multiple by all the Street, but it has grown and is expected to keep growing ahead. It also has room for upside to its 2.5% dividend yield, if it pays down some debt.
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