2. MEMC (WFR), a global leader in semiconductor and solar technology, engages in the design and development of silicon wafer technologies. With R&D and manufacturing facilities in the U.S., Europe, and Asia, MEMC provides services useful in the manufacture of next generation semiconductor devices and solar cells.
For the first quarter, the company's Solar Materials and SunEdison segments posted strong sales. Net sales at the end of March 2011 were $735.9 million, increasing 68% from $437.7 million in the first quarter of 2010.
Capital expenditure during the quarter was $205.4 million, primarily related to investment in solar wafer capacity, semiconductor 300 mm wafer production, and polysilicon capacity expansion.Cash and cash equivalents for the quarter stood at $684.1 million. Analysts polled by Bloomberg are positive on the stock and expect it to deliver around 76% within a year's time. The stock is trading at 8 times its estimated 2011 earnings.
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