The 50-day moving average of shares of AFFX just broke above its 200-day moving average, possibly signaling a move higher. And LMNX was just upgraded to a Strong Buy at Zack’s Equity Research.
Affymetrix (AFFX) and Luminex (LMNX)
from Nate’s Notes
Thanks to a solid earnings report, analyst upgrades, and a much improved market environment for stocks in general, Affymetrix’s (AFFX) stock has risen almost 40% since last month’s issue went to press!
For the company’s third quarter, Affymetrix reported revenues of $87.1 million and net income of $2.4 million, or $0.03 per share, as compared to revenues of $80.4 million and a net loss of $4.2 million, or $0.06 per share, in the same period last year.
While there is definitely a chance the stock will continue to climb before profit-taking sets in, given the speed and magnitude of the recent climb, I going to hold off making new purchases until we see a bit of consolidation. AFFX is now a strong buy under $8 and a buy under $10.
For the company’s third quarter, Luminex (LMNX) reported revenues of $56.7 million and net income of $5.6 million, or $0.13 per share, as compared to revenues of $50.8 million and net income of $796,000, or $0.02 per share, in the same period a year ago.
Because both Portfolios are still fairly underweighted in the stock, I am raising the buy limits a bit and adding a few more shares this month. LMNX is considered a strong buy under $18 and a buy under $21.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, November 14, 2014