Hugh Cleland, CFA
Gennum
GND-T
COMMENT
Sep 07, 2006
Has come under his radar screen for a potential look. Has been crushed and is looking like it is starting to base. We'll be having a closer examination of this.
(A Top Pick June 8/04. Down 7.5%.) A wide ranging stock in that the bid/offer spread is very wide and it is very illiquid. Have some really good new products. Still buying.
Gennum makes digital pieces for hearing aids. It is not a cheap stock. Believes there is better value in other places. In the past he has owned this stock but no longer owns.
Specialty semiconductor manufacturer. Struggled for the last few years. Just did a major restructuring on 3 areas 1) video transport 2) data communications and 3) image processors. Just reported an OK quarter. Expenses were a little heavy and Cdn$ impacted them. He's a growth manager and has not seen it in this company yet.
In the old days it was a hearing aid company that did very well. Now they have semiconductor products for video and data com markets. Have been hard hit as a mini semiconductor company and earnings are way down. Good balance sheet and the business is stabilizing.
Designs semiconductor circuits. From June until now it had been trading in the $4 range and, on very positive news went up to a new level so the stock has taken on new characteristics. Volumes were also good.
(Top Pick Mar 12/10, Up 24.42%) Traded sideways for the last half of the year. When a stock breaks out of a long sideways trend with diminishing volume, it is a really good opportunity.
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