Micron Technology, Inc. (NASDAQ:MU) is currently trading at multi-year highs based on strong investor and analyst sentiments, as the company is ready to turn the page and leap in to profitability.
Recent offering a positive
Last week First Solar, Inc. (NASDAQ:FSLR) announced a follow up offering of 8.5 million shares priced at $46 per share with the net proceeds to be around $430 million. The company stated that the cash will be used for acquisitions or investments in several key markets the company is targeting, including Latin America, Saudi Arabia, India, South Africa. The management team is in the right position to support growth beyond 2013 as the company is ready to redeploy cash in order to increase the company’s backlog and support future earnings growth.
Looking internationally there have been positive developments out of China. China will dramatically increase the amount of renewable energy, especially solar energy, as it moves to replace 50 million tons of coal equivalent by 2015. This is a positive move for First Solar, Inc. (NASDAQ:FSLR), which already has a factory in China and prior contracts in the region.
I believe that many investors are undervaluing the companies I have listed, but this is not likely to last long as the moves these companies are making can yield almost immediate results. The time to buy is now, not after the companies begin benefiting from their positive steps forward.
Jayson Derrick has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.
The article Three Companies With Tons Of Potential originally appeared on Fool.com.
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