Ellipsiz

[kyle]

Read a post from VLSI research, Semiconductor Probe Card Market Falls 1.4% in 2013 to $1.12B. The outlook for 2014 is positive as the semiconductor industry continues to grow and exchange rates stabilize. Probe card revenues are forecast to grow 9.2% to a total value of $1,295M.

https://www.vlsiresearch.com/public/cms_...elease.pdf

[kyle]

FormFactor raises its 3rd quarter revenue guidance


LIVERMORE, CA, Sep 01, 2014 (Marketwired via COMTEX) -- FormFactor, Inc. FORM, -0.38% today announced it expects revenue for its fiscal third quarter of 2014 to be between $71 and $75 million, higher than the company's previous revenue guidance of $68 to $73 million. Customer demand across all segments is the main driver for the increase to the company's expected revenue results. The Company also raised the midpoint of its non-GAAP gross margin guidance, increasing the guidance range to be between 35% to 38%, higher than the company's previous gross margin guidance of 34% to 38%.

"As we move through Q3, we continue to see strong business momentum across all market segments," said Tom St. Dennis, CEO and Executive Chairman of the Board of FormFactor, Inc. "We remain driven to deliver products that address the semiconductor industry's increasingly complex wafer test requirements and that position FormFactor for future growth as a critical business partner to our customers."

[sgpunter]

Any idea why this stock rose 10% today? Are we looking at a potential offer or are they going to do a Global Testing and return capital to shareholders?

Ellipsiz has been profitable for the last 5 financial years and is on course for a 6th consecutive year of profit and the dividend yield is pretty decent too. Its even trading at a steep discount to NAV. Wonder why it remains under the radar and undervalued (in my opinion).

[Layman A]

Happened to studied this one some times back.
I think NAV is around 20¢ ?
With quite healthy cash pile in the book.

Didn't dip my finger in cos it's a "dead stock" that nobody interested.

Quite unusual high volume today, any "happening" going on ?

[sgpunter]

Shortly after my post Ellipsiz got queried by SGX. Let's see whether there is anything to announce or are we going to see the "standard" reply back to SGX.

[Nick]

UOB initiated coverage on it today - http://research.uobkayhian.com/content_d...d9fe708b7c

[TUBInvesting]

This stock has been rising steadily these past few days. Thus I did a short write up.

http://tubinvesting.blogspot.sg/2016/04/...-rise.html

Pros

Low Price to Book -This stock caught my eye as I have been looking at deep-value stocks. As of 19 April 2016, it has a very low Price to Book Ratio of 0.465.

Consecutive Net Profit with Dividend - The company has been consistently producing net profit and distributing dividend to shareholders for the last 5 years.

Below Net Current Asset Value Per Share (initially) - At that time when it was priced at 0.300, the stock is priced below its Net Current Asset Value of 0.322. This meant that whatever non-current asset that comes along with the purchase... it comes as Free of Charge!

Cons

Super High Intangibles - I have spotted this company a long time ago. But I hesitate to buy as it has a high intangibles amount. To me, intangibles are "nothing" and do not really has any physical value. It will be dangerous if companies just write them off suddenly.

What it really produce? - After googling, I stay cannot really identify what the company produce. I just know it is something that has to be in Electronics Applications. However, what are the uniqueness of this product that is produced by Ellipsiz, as compared to others?

Sunset Industry - The semiconductor industry is in a very uncertain period. Many companies are going through merger and acquisitions. Furthermore, with technology being ever-changing, will Ellipsiz continue to stay relevant? If it has to continue to stay relevant, then more money will need to be invested in Research and Development. Eventually, the super long term is grey and uncertain.

Conclusion

With this sudden rise in price, my time to offload the shares maybe near. However, I Intent to stay vested till the next financial report comes out.

(vested at 0.3. Now at 0.37)

[desmondxyz]

http://infopub.sgx.com/FileOpen/OfferAnn...eID=411802

Low ball offer of 0.38 from LUM family.....unlikely it will be successful

[TUBInvesting]

http://infopub.sgx.com/FileOpen/OfferAnn...eID=411802

Low ball offer of 0.38 from CEO.....unlikely it will be successful

I will be more willingly to release my shareholdings if the offer was closer to the discounted net asset value price, such as $0.500. Therefore, my decision is to wait and see. Hopefully, the CEO will release a much higher offer. In addition, do note that full year financials of 2016 will be released soon, around 18 August 2016, and I am expecting a large dividend to be given out. The reason behind my view of a large dividend is to compensate the CEO in spending his money for this general offer. Let's hope my guess is correct on this!

Wrote a piece of this general offer on my blog - http://tubinvesting.blogspot.sg/2016/07/...m-ceo.html

<Vested>

[sgpunter]

Just to clarify, the Offer is not made by the CEO but the substantial shareholder Bevrian Pte Ltd which is an entity linked to the Lum family.

The Offer Price of $0.38 appears low as it is the highest price that Bevrian has paid for Ellipsiz shares in the reference period. This Offer was only triggered as it is mandatory to do so according to the Code of Takeovers and Mergers given that Bevrian has crossed the 30% threshold.

In short, the law dictates that an Offer has to be made at $0.38 and it is not a case of an intended delisting of which the Offer usually has to be reasonably attractive in order to entice shareholders to accept the Offer. Hence, the explanation for the seemingly "lowball" Offer.

Bevrian already indicated that they intend to maintain the listing status of Ellipsiz so nobody is expecting for this Offer to go through.

This Offer should provide some support for the share price at $0.38 though and I agree that it is not attractive of course. Clearly, the Lum family still thinks Ellipsiz is grossly undervalued as they have been accumulating its shares pretty aggressively.