Ellipsiz

[Zelphon]

Hi Guys,

Just wanna bring your attention to this Semicon Tech Company...

Ellipsiz...

Current Share Price = $0.145
NAV = $0.191

Company turning around since FY08 where all TECH companies stock tanked..

FY 07 Earnings per Share = 5.89 cts
FY 08 Earnings per Share = -4.82 cts
FY 09 Earnings per Share = -10.66 cts
FY 10 Earnings per Share = 4.05 cts
FY 11 Q1 Earnings per Share = 0.68 cts

Using FY 10 EPS to calculate PE = 0.145/0.0405 = 3.58

Looking at all the other semicon tech company that rallied, this is still an ultra laggard comparing to UMS, DMX, etc

Share used to trade at $0.60 ~ $1.00 and there were takeover news in 2007....

Semicon will continue to do well in 2011 due to new growth engine...
Better chips, tablets, 3D gaming devices, and 3D TV, etc...

I am in the semicon industry and after 2009, we can see a lot of consolidation in the industry..
Most small semicon tech companies either failed or get swallowed..
Even Chartered gets sold off and integrated into GlobalFoundries...

Yet, Ellipsiz managed to survive....

Not a call to buy or sell...

VESTED

What do you guys think?

[freedom]

personally, I think the inventory level of semicon industry is slowly reaching pre-crisis level, maybe another de-stocking will happen soon?

[Zelphon]

personally, I think the inventory level of semicon industry is slowly reaching pre-crisis level, maybe another de-stocking will happen soon?

I can't comment on that..

All i can say is 2011 will not be a bad year for semicon..
Not an super good year like 2009 and 2010 also...

Most fabs are running at beyond 90% utilization rate...
If tablets take off, growth will keep up in 2011...

During 2009 and 2010, most fabs started increasing their capex...
Installation of the new equipment takes time...
2011 will be the year where most of these tool orders are fulfilled and output increase from these new capex will kick in this year...

As I mentioned earlier that the semicon world has grown smaller due to M & A and weaker players folded...

The ones that is still standing has carved out a name for themselves...

Since I am in the sector, all i can say is that cyclical downturn for semicon is definitely not this year...

[mrEngineer]

I disagree. I am also from srmicon sector. We have seen tsmc fab cut forecast, some gf fabs closed for shutdown & business orders fulfillment down. I am sorry to say short term wise things aren't going to look so good

[Zelphon]

Still...

FY 11 Q1 Earnings per Share = 0.68 cts
Using FY 10 EPS to calculate PE = 0.145/0.0405 = 3.58

Assuming moderate growth in FY 11... Q1 EPS x 4 = 0.68 x 4 = 2.72 cts..
PE = 0.145/0.0272 = 5.33

With a PE of 3.58 ~ 5.33 and trading below book value of 0.19..

Don't you think is a undervalued TECH gem??

[shn]

Anyone still holding this? It is now trading at 0.09 while dividend in last October was 0.0016.

Cash flow and cash level are healthy but operating in a challenging industry. I have taken a small position.

[Zelphon]

Heard semicon rebounding..

[desmondxyz]

Ellipsiz has been tanked from 0.145 to 0.09 since Zelphon's posting, recently rebounded to 0.10, still worth taking a look? Is there any cutting edge advantage over competitors?

One good thing is management paid consistent dividend each year, although the yield is not that fantastic ~ 1.6-1.7%.

[Zelphon]

Ellipsiz has been tanked from 0.145 to 0.09 since Zelphon's posting, recently rebounded to 0.10, still worth taking a look? Is there any cutting edge advantage over competitors?

One good thing is management paid consistent dividend each, although the yield is not that fantastic ~ 1.6-1.7%.

LOL..

I am still stuck in Ellipsiz..

HAHHA..

[kyle]

I am also watching this counter recently.

The 9m results look good. Excluding special item, it has pretty good growth yoy. management first time proposed an interim dividend of 0.18 cents (1.8% at current price).
Took a look at the 3Q presentation, management outlook switched from "cautious" to "cautiously optimistic" first time in the past two years.
Probe card business is growing faster due to the widespread of smartphone&tablet. This part should be able to maintain the momentum. The DISTRIBUTION & SERVICES SOLUTIONS seems to trend down...
I would expect the company to deliver a nice 4Q and whole year result, maybe with another 0.18cents dividend? Recently, price just crossed 10 cents. With a net cash position, PE ~5, PB~0.5, the downward trend should be limited and any positive catalyst may ignite a strong re-rating.