Stocks Under $10 (ZNGA, TQNT, LPL)

Brick Tamlund_Anchor Man

That market rally faded today - but we think these 3 stocks under $10 could have some mojo in the near future.

The stocks we have on our radar right now are TriQuint Semiconductor(TQNT), LG Display (LPL), and Zynga (ZNGA).

Everyone knows TriQuint (TQNT) as one of the chip set makers for the iPhone. The company just announced a $50 Million share buyback program - in the last earnings report, the company reported results in-line with expectations, however, the guidance provided by the company was weak. This led to significant decline in stock price after the results were reported. Also, the company finally just settle their patent disputes with Avago, which was hurting their bottom line. TriQuint expects to incur about $11 million in litigation expenses in the second quarter of 2012. Going forward, their litigation expenses should be far less.

LG Display (LPL): we like LG for their big investment in OLED displays that should payoff in the future. LG is currently at E3, showing a demo of OnLive that has an integration with the LG Google TV sets that will make more than 60 games instantly playable from the TV, without having to hook up a console or PC.

LG released not-so-great earnings last quarter. Next quarter's average estimate for revenue is $6.06 billion. On the bottom line, the average EPS estimate is -$0.11.

Next year's average estimate for revenue is $23.96 billion. The average EPS estimate is -$0.07.However, we think it's just a matter of time before the company turns into a cash cow selling OLED TV's.

Zynga (ZNGA) shares have been in free-fall since March, dropping all the way from $14 down to $6 today. Ouch. In spite of that, we don't think ZNGA shares will fall too much lower, and as the Facebook IPO debacle fades in investors memories, shares should rebound.

Charts:

Enjoy.

 

I love lamp.I'm Brick Tamland, people tend to like me as I'm polite and rarely late. I like to eat icecream and I really enjoy a nice pair of slacks. Years later a doctor will tell me I have an IQ of 48 and that I'm what some people call mentally retarded.I read somewhere that their periods attrack bears. The bears can smell the menstration