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GLOSSARY OF TERMS
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GLOSSARY
A
B
C
D
E
F
H
I
L
M
P
R
S
T
U
V
A
AC
Alternating current. Electrical power with current and voltage that vary periodically from positive to negative.
Amortization
The practice of paying off an interest-bearing liability in installments comprising both principal and interest, as opposed to one lump sum.
Analysts
Workers at research or brokerage firms who make forecasts about companies' future earnings, revenues, growth rates, and stock price (price target). Also make recommendations regarding buying, selling, or holding a particular stock.
Arc
An intense, localized electrical discharge.
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B
Buy Recommendation
An analyst's recommendation of a stock for purchase, based on a prediction that it will outperform comparable stocks.
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C
Chip
An integrated circuit or discrete device.
Common Stock
Shares in a public company that give holders rights to vote and receive dividends when declared by the board of directors but also put holders at risk if the company falters. Lower priority than preferred stock and bonds (debt) in the event of liquidation of the corporation. See also Shares.
Company
A corporation or limited partnership with publicly traded stock.
CVD
Chemical vapor deposition. A process that chemically deposits a film onto a substrate from a gaseous state.
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D
DC
Direct current. Electrical power with current and voltage that do not change from positive to negative.
Deposition
A process in which a thin film of material is placed on the surface of a wafer.
Downgrade
The reduction of a stock's rating by an analyst. Examples include changing a "buy" recommendation to a "hold" or a "hold" recommendation to a "sell."
DVD
Digital versatile (or video) disk.
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E
Earnings
A company's revenues minus all costs (including taxes). Net income or profit.
Earnings Estimate
An analyst's prediction about a particular company's earnings for a future quarter or year. An estimate of whether a company will increase, decrease, or remain unchanged in its operating income and overall profitability. See also Forecast.
Earnings Estimate Date
The date on which an analyst makes an annual or quarterly earnings estimate for a stock.
Earnings per Share (EPS)
A company's profit per share. Earnings (net income) divided by the number of shares outstanding for that company.
EBITDA
Earnings before interest, taxes, depreciation, and amortization.
Enterprise Value (EV)
The total market capitalization of a company plus any outstanding debt. The cost of acquisition should one entity merge with or acquire another and assume the outstanding debt.
Exchange
A registered marketplace where securities are traded. Examples include the New York Stock Exchange and the American Stock Exchange, as well as regional exchanges such as the Philadelphia Stock Exchange and the Pacific Stock Exchange. See also Listed Securities.
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F
Fiscal Quarter
A three-month (12- to 14-week) period designated as a quarter of a year by a particular company. A designation used for financial reporting and tax purposes.
Fiscal Year
A 12-month (52- to 53-week) period designated as a year by a particular company. A designation used for financial reporting and tax purposes.
Forecast
A prediction of a company's future earnings, revenues, stock prices, or other financial data. See also Earnings Estimate.
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H
Hold Recommendation
An analyst's recommendation that investors maintain their current position in a stock, based on a prediction that it will perform similarly to comparable stocks.
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I
Interest
The price paid for the use of credit or money. Expressed either in monetary terms or as a rate of payment.
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L
Listed Securities
Stocks traded on an exchange. See also Common Stocks, Exchange.
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M
Market Capitalization (Market Cap)
The market value of all the stock in a company. The price per share multiplied by the number of shares outstanding.
Multiple
See P/E Ratio.
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P
P/E Ratio
The relationship between a stock's price and a company's earnings. The current stock price divided by earnings per share (either the company's trailing annual earnings per share or the company's expected earnings per share). A figure used to compare the relative value of different stocks. Also called the multiple.
Portfolio
A group of securities or stocks held together for investment purposes.
Price Target
An analyst's forecast of a particular stock's price at a later date.
Profit
See Earnings.
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R
Recommend Date
The date on which an analyst makes a "buy," "sell," or "hold" recommendation for a stock.
Recommendation
An analyst's statement regarding the future prospects of a particular stock's prices.
Return
The increase in the value of a stock or portfolio over a specified period of time.
Return on Buy-Rated Stocks
The performance or return of portfolios created from an analyst's "strong buy" and "buy" recommendations, measured over periods of one, two, and three years.
Revenues
The dollar amount of sales generated by a company.
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S
Sell Recommendation
An analyst's recommendation to sell a stock, based on a prediction that the stock will underperform comparable stocks.
Shares
A portion of equity ownership in a company. Includes common and preferred stock. See also Common Stock.
Shares Outstanding
The number of shares issued by a company minus any shares repurchased by the company.
Stock
A financial instrument reflecting an equity ownership position in a company.
Strong Buy (Recommendation)
An analyst's strong recommendation to purchase a stock, based on a prediction that it will outperform comparable stocks by a wide margin.
Strong Sell (Recommendation)
An analyst's strong recommendation to sell a stock, based on a prediction that it will underperform comparable stocks by a wide margin.
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T
Tax
A contribution for the support of a government required of persons, groups, or businesses within the domain of that government.
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U
Upgrade
The improvement of a stock's rating by an analyst. Examples include changing a "hold" recommendation to a "buy" or a "sell" recommendation to a "hold."
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V
Volume
The number of shares traded for a particular stock or exchange.