Cml Microsystems Share Discussion Threads

[gleach23] 19/7/2023 22:05

Nice to see some blue today on the back of some buying. Feels like we've been sitting and consolidating at this level for long enough.

Late trade reported today of 17,138 @ 442p dated yesterday. Might just be the sort of large random trade to clear the seller....here's hoping.

[wad collector] 06/7/2023 15:45

The indicative spread is misleading, at least for the moment. I just paid 459 despite an indicative 450/470 spread. I read that IC article and thought it looks a reasonable gamble in an exciting sector.

[pyemckay] 27/6/2023 18:18

full write up by simon thomson.

[roddiemac2] 27/6/2023 16:50

I am not sure that a spread of 7% is putting serious long term investors off. I can see that it puts off day traders, but then day traders are just noise. Do they help the shares to reflect fair value?------

[roddiemac2] 27/6/2023 16:36

Many years ago they did make noises about considering going private. I asked Chris Gurry why. He was concerned that the low share price was putting off potential customers in the US. I said that they needed to get their story across more vigorously and in more detail. Back in those days there was little segment by segment break down of the business in the printed version of the accounts. That has changed now..
----I will sound them out as to whether or not the option of going private might be considered at some point

[steeplejack] 27/6/2023 12:21

A nominal spread of 7% is off-putting.There217;s little money to be made in running a book in a small company like CML.It’s too low cap to attract interest from other than a few small company orientated funds and private clients.Increasingly,companies like CML will eschew a stock exchange listing and go private.CML looks cheap but is likely to remain so in a risk averse market.I think it was Simon Thompson who commented that either CML rerated or ultimately it would get taken over.That’s possible but so is going private.

[1c3479z] 27/6/2023 12:18

bones
may also have something to do with risk aversion by UK pension funds and disinvestment by mutual funds after redemptions as well as the general squeeze and movement of the market to lower multiples?

[roddiemac2] 27/6/2023 09:19

bones,

You make a very good point, and one which I have hitherto tended to overlook.

[gleach23] 27/6/2023 09:01

Agree with both points - it's just my trading position that gets frustrated but anyway, that's my problem :)

Medium to long term this seems a good stock to accumulate at such times as these.

[bones] 27/6/2023 08:35

Sadly, a phenomenon across the small cap market is the blanket selling by small investors who most likely have very pressing cash needs elsewhere if they have mortgages to renew soon, a not insignificant 1M+ households who might need an extra £300 - £500 (or more) a month of disposable income to cover the increases. That’s likely to include a lot of investors.

CML and many other solid businesses may prove to be bargains in the longer run as these adjustments play out in the wider economy.

[roddiemac2] 27/6/2023 08:35

gleach23,

I look at things this way:-- Our "job" as investors is to notice when trading seems irrational , and to take advantage accordingly. In CML`s case I have been surprised by
how low the shares drifted in recent weeks ( albeit in mostly thin trading ). I am confident that in the medium to long term the price of CML`s shares will better reflect their performance and prospects. Accordingly , I increased my holding ; patience should pay.

[gleach23] 27/6/2023 08:18

Hopefully the seller, who appears to remain frustratingly active, will soon be exhausted

[roddiemac2] 27/6/2023 08:00

As I expected , the company has shown improvement on all fronts. My confidence was never dented. Recent selling was not significant, ( and in some cases possibly misguided)

[1c3479z] 27/6/2023 07:38

agree, was expecting the worst after the recent share price decline but can't see much wrong with these results other than the delay in acquiring the micro tech american company due to regulation.

[steeplejack] 27/6/2023 07:17

“According to a number of industry commentators, the semiconductor market as a whole grew by 3-4% for the calendar year to December 2022, with the second half weaker than the first. In comparison, the Group's full year revenues to 31 March 2023 advanced by 22% with the second six-month period delivering a stronger performance than the first.”


A very encouraging set of results.The dividend is raised 20%.Strong underlying profits growth,up 142% before exceptional gains on property deal.No debt,substantial cash balance.When a share makes a pronounced move one way or another,there’s a natural tendency to believe that market is behaving quite rationally and indeed might be privy to some useful insight. Not so nowadays,in a UK stockmarket deplete of useful,influential research.How the market responds to these results is anyones guess.

PS.EPS of 30p puts the stock on an undemanding current PE of 15.A rating of 20 would give you £6.I presume the Investors Chronicle will be giving the stock its blessing.

[roddiemac2] 17/6/2023 07:50

gleach23,

Your buying looks very well timed --. My own topping up was a little premature, judged in the short term.

[gleach23] 16/6/2023 22:43

Hoping for a bit of a recovery next week in the lead up to 27th, I bought a few more today @ 450p after noticing one could buy and sell modest amounts at the Offer price.

Some selling still evident but much reduced. A nice late trade reported after the bell of 9,544 shares @ 460p will hopefully set next week up for such a recovery.

[roddiemac2] 05/6/2023 13:40

NTV,

See my post 759.----still my stance unless there is significant selling between now and the 27th.

[roddiemac2] 05/6/2023 13:33

Average volume over one month was 13.48k ; it does not take much selling to drop the price in such low volume . Conversely, it will not take much buying to raise the price if results are good.

[ntv] 05/6/2023 12:45

Trying to find out why there is a fall in the share price

[roddiemac2] 05/6/2023 11:52

gleach23,

A very thin market in recent weeks. We can never rule out some item of bad news to come . Having said that,the shares look oversold.

[gleach23] 03/6/2023 12:22

Noteworthy trade reported late yesterday of 22,166 shares @ 455p timed 08.10.

Will be interesting to see if this marks a low point as FY results approach (27th June).

[steeplejack] 19/5/2023 11:28

Holding any AIM stock makes me nervous!

[roddiemac2] 18/5/2023 11:03

NTV,

Something of a chain reaction here . It looks like some investors ,who bought in the run up following the Investors Chronicle tip, getting jumpy and selling up in very thin volume. I have added at higher prices .The current drop probably started with a little profit taking.---No reason that I know of to get nervous.