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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gooch & Housego Plc | LSE:GHH | London | Ordinary Share | GB0002259116 | ORD 20P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 10.00 | 1.97% | 518.00 | 24,181 | 16:35:17 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 504.00 | 508.00 | 508.00 | 508.00 | 508.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Optical Instruments & Lenses | 148.48M | 4.05M | 0.1570 | 32.36 | 130.99M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:17 | UT | 38 | 518.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 20/12/2024 | 15:15 | UK RNS | Gooch & Housego PLC Holding(s) in Company |
| 04/12/2024 | 13:01 | ALNC |  EARNINGS: Gooch & Housego ups payout; SysGroup warns on revenue |
| 03/12/2024 | 07:00 | UK RNS | Gooch & Housego PLC Results for the year ended 30 September 2024 |
| 26/11/2024 | 07:00 | UK RNS | Gooch & Housego PLC Presentation via Investor Meet Company |
| 04/11/2024 | 07:00 | UK RNS | Gooch & Housego PLC Notification of Full Year Results |
| 30/10/2024 | 09:48 | ALNC | IN BRIEF: Gooch & Housego acquires Phoenix Optical for GBP6.8 million |
| 30/10/2024 | 07:00 | UK RNS | Gooch & Housego PLC Acquisition of Phoenix Optical |
| 28/10/2024 | 14:35 | UK RNS | Gooch & Housego PLC Holding(s) in Company |
| 08/10/2024 | 11:17 | ALNC | Gooch & Housego hopeful for full-year results after strong second half |
| 08/10/2024 | 06:00 | UK RNS | Gooch & Housego PLC Full Year Trading Update |
Gooch & Housego (GHH) Share Charts1 Year Gooch & Housego Chart |
|
1 Month Gooch & Housego Chart |
Intraday Gooch & Housego Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 11/12/2024 | 21:03 | No future in lasers or fibre-optics | 872 |
| 03/6/2024 | 16:03 | Trading ahead of expectations | 92 |
| 03/6/2018 | 19:29 | Gooch & Housego (GHH) One to Watch Monday | - |
| 11/3/2009 | 08:02 | Possible breakout supported by eps growth | 109 |
| 14/2/2007 | 12:13 | share rise | 13 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 16:35:17 | 518.00 | 38 | 196.84 | UT |
| 16:28:12 | 508.00 | 52 | 264.16 | AT |
| 16:24:30 | 504.50 | 5,000 | 25,225.00 | O |
| 15:34:25 | 504.34 | 100 | 504.34 | O |
| 13:07:52 | 509.59 | 447 | 2,277.86 | O |
| Top Posts |
|---|
Posted at 30/12/2024 08:20 by Gooch & Housego Daily Update Gooch & Housego Plc is listed in the Optical Instruments & Lenses sector of the London Stock Exchange with ticker GHH. The last closing price for Gooch & Housego was 508p.Gooch & Housego currently has 25,786,397 shares in issue. The market capitalisation of Gooch & Housego is £130,994,897. Gooch & Housego has a price to earnings ratio (PE ratio) of 32.36. This morning GHH shares opened at 508p |
Posted at 03/12/2024 07:19 by simon gordon GHH - 3/12/24Despite this positive overall outlook for the Group, we remain cautious about some supply chain and commercial headwinds in the near term. The labour markets for talent in both the UK and US remain competitive leading to some supply side challenges that continue to frustrate the recruitment of the required talent, especially in engineering and technical positions. Global supply chain constraints, although better than in the recent past, continue along with an inflationary environment for wages, raw materials and energy all require diligent attention and agility. Whilst price increases have been passed onto customers in FY2024 to address most of these cost increases, cost inflation continues to impact the business and the ability to fully offset all cost base inflation through pricing actions is becoming more difficult in certain areas. - Cavendish - 3/12/24 Forecasts: No changes to our FY25 forecasts, recently updated for the acquisition of Phoenix Optical. We introduce FY26 forecasts based on revenue growth of 4.4% and margins firming to 11.1%, which drives adj PBT of £15.8m, while EPS of 47.5p shows YoY growth of 17%. With an improvement in cash generation, we look for year-end net bank debt further reducing to £7.8m. |
Posted at 28/11/2024 07:53 by simon gordon Odyssean - 28/11/24:In August Gooch & Housego released a trading update downgrading its full year expectations, driven by the slippage of certain orders due to supply chain delays with key partners. Gooch shares also suffered through the period being one of our few positions listed on AIM, where concerns around any change in business relief rules weighed on sentiment. Despite these short-term and technical issues, we continue to believe that Gooch is making good progress. The new CEO has set out an ambition to double group margins to 15% through self-help, portfolio re-shaping and growth. Early signs are positive on progress on all of these areas despite the mixed macro environment. The weakness in shares through the period have left the group trading on c.1x EV/sales, roughly half its long-term average, and undemanding for a business which we believe has the potential to generate 15% operating margins and grow in excess of GDP across the cycle. - Gooch & Housego % NAV: 5.8% Sector: Industrials Manufacturer of photonics solutions for a variety of end markets. Gooch posted an inline H1 trading update in April, noting a robust forward orderbook despite ongoing tough end markets. Unfortunately, later in the period the group downgraded full year expectations due to certain orders being pushed out into the following year on the back of supply chain / third party delays. We remain of the view that Gooch is on the right track and there are some good growth opportunities ahead of it. Management is making progress on their self-help plan to materially improve margins through simplification of the group and operational efficiency, whilst a more commercial approach to R&D has landed well with customers suggesting stronger organic growth to come. Shares remain well below their long-term ratings, and we see potential for this discount to correct as delivery of this operational potential comes through and end markets become more favourable. - The deliberate shift we made in the portfolio towards the industrial sector, especially smaller electronics companies in the latter part of 2023, was in retrospect, from a share price perspective, premature - although we had missed the worst of many share price declines, the trading conditions continued to deteriorate further than we had anticipated and in the short term had been insufficiently offset by self-help we had identified. However, we believe that we have secured highly strategic stakes in many of these companies, where there is very substantial upside to come as the earnings cycle turns and investor sentiment improves, or alternatively the M&A "animal spirits" rise again. |
Posted at 05/10/2024 11:19 by simon gordon Value,Yes, it's a sitting duck. I hope it doesn’t happen, and they can have the opportunity to grow and push the share price beyond its previous all-time highs. |
Posted at 05/10/2024 08:50 by simon gordon Value,Laird was taken out in 2018, Charlie joined Stadium in 2011. Why would the BoD sell out now when they are so lowly valued and entering a period of strong growth and increased margins? It'd be sad to see another UK company sold cheaply. For instance, E2V installed a new management who focused the R&D and increased margins, Teledyne bought them and in the coming years, profits increased three times. OXIG is one of the rare ones where UK shareholders didn't chase a quick buck. GHH has a lot of potential and if shareholders are patient will be rewarded. If you look at the business and not the share price it has the ingredients of an E2V or OXIG. If UK shareholders had held onto ARM they'd be up five times now. Why are the British so keen to sell everything and not hold on to long-term wealth creation, we should look to the Swiss for inspiration. We are selling ourselves short. Also, the British fixation on dividends is limiting our growth potential. Here's what Stuart Widdowson said about the company - 31/7/24: "When we saw them in June, I don't think they've ever been more bullish about the medium- to long-term prospects. They have the order book to deliver sales this year through September, but as Ed mentioned, they are reliant on other people delivering materials to allow them to complete their work. Frankly, whether they miss their numbers this year slightly—by 5% or maybe 10%—is somewhat irrelevant for the long-term story. In fact, it's probably a massive buying opportunity. The bizarre thing is that everyone knows this might be the case, yet people are holding off, thinking there might be an issue. But in our experience, when that happens, because everyone is aware, they all rush in, and you might not be able to get any stock. So it's quite an interesting situation. The company's EV/sales ratio is, I believe, below one again. It should comfortably make a 15% margin. Historically, it has traded at two times EV/sales, which implies very significant re-rating potential. However, it does seem vulnerable right now if people don't start buying the stock. If I were on the company's board, I'd be dusting down my defense documents." Stuart Widdowson - 26/7/24 "The Holy Grail is finding a self-help situation in what is perceived, and has been, a low-growth business, and then actually getting it back up to intrinsic value while changing the dynamic. A really good example was E2V Technologies, which was the biggest contributor to performance in SEC. It was a global market leader with super niche technology, but had always underperformed in organic growth relative to its potential. They were spending the right amount on R&D, but much of it went to pet projects that never got commercialized. One of the key things the management team did, aside from operational improvements like implementing lean manufacturing— That’s ultimately why Teledyne bought the business. Unfortunately for us, I recently found out that Teledyne tripled the profits over the next five years after acquiring the company. So, it was likely sold too early. But that’s where you get the real home runs. To give you an idea of the numbers, from the time of investment to the exit and takeover, the shares went up sixfold, including dividends. So, if you can find a self-help situation and transform it from a low-growth business into a high-growth one, that's where you make the real home runs." |
Posted at 04/10/2024 16:22 by simon gordon EI,Thought is best to reply to you on this thread. "Simon, i had a listen to the GHH Q&A and could get little clear sense of a turnaround - perhaps that's a fault in my interpretation. What I do know is OIT are very sharp and may see a high probability of a bid." I don’t believe OIT acquired GHH for a short-term bid trade. They recognize the growth potential and the opportunity to restore margins to the mid-teens. According to OIT, GHH has historically been valued at 2.2 times EV/Sales. For 2024, it's valued at 0.9x, and for 2025, it's 0.83x. There’s always a risk of a takeover. From what I can observe, the newish CEO has recruited a talented team, which should start delivering results in 2025, with even stronger performance in 2026. Photonics is a growth industry, GHH is moving up the value chain, and the Defence division is positioned for robust growth, according to OIT. The company is currently trading at a P/E of 10x for 2025, and it’s a high-quality business. Time will tell if Charlie Peppiatt can truly get things firing. Based on the world-class executive team he’s assembling, I think there’s a good chance of success. Stuart Widdowson @ OIT - 15/8/24 “We met with the management team quite recently. They have a September year-end and are quite H2-weighted this year. There are some questions about whether they will roughly meet their targets this year. However, the management team's view for the next two or three years is radically different. They see substantial growth, not just as the destocking ends, but also due to new applications, particularly in some defense areas.” The CNC rejuvenation has taken three years to gain momentum. GHH is at the two-year mark. Year three is the point where you can judge if the CEO is delivering on his strategy. The macro backdrop looks relatively benign for 25. New CEO at CNC; -6/21: 92.5p -6/22: 75p -6/23: 65p -6/24: 102p New CEO at GHH: -9/22: 575p -9/23: 508p -9/24: 450p I’m hoping CNC really gains momentum in 2025 through 2028 as the investment in growth starts to pay off. GHH is also investing for growth, and it should deliver results in the coming years. The more I examine Charlie Peppiatt’s strategy, the more I believe he possesses some of the qualities of an "Intelligent Fanatic." The most important factors are recruiting highly talented executives, incentivizing them effectively, and having a clear overarching message for employees. Charlie is successfully implementing all three. |
Posted at 29/9/2024 12:32 by essentialinvestor Simon, the share price appears to be indicating more disappointing news to come - obvs the market may have that wrong, find out with their next update. |
Posted at 18/9/2024 16:42 by bamboo2 Hi simon, thanks for that, useful fundamentals.I put these charts in as I find the indicators, along with the pattern on the other thread invaluable. The charts above and your fundamentals just now mean that this is currently not in consideration. The share price is downtrending below correctly ordered, falling smas. I reckon wait for this to get near the 350 level before considering again. Remind me if I miss it! Further, the smas are widely spread, each give their own resistance potential. If smas are close together, share price can often push through them all in a day or two. There are a few possible turn dates that showed up on the GHH chart I looked at yesterday evening. I'll post it a bit later once I can access the advfn charts. Cheers |
Posted at 11/9/2024 16:23 by simon gordon Stuart Widdowson - 26/7/23:Text is taken from an Odyssean video* on YouTube - punctuation polished on ChatGPT. Share price c.582p on date of video upload. It appears that Odyssean took its initial position in Q4 2022 in the 400s. "I have to talk about another name that has performed well over time and won’t be stuck for long—Gooch & Housego. As I mentioned before, Gooch & Housego is a similar story. It’s one of the new investments we made last year, redeploying some of the capital from takeovers. For those of you who remember my time at SEC, I originally invested in this business in early 2010. It took me three months to buy 3% of the company, and I ended up paying approximately 30% more than my initial target price. This is a stock where, when you find the right price, at the right time, with the right opportunity, and if you can get the volume, you simply have to participate. For those who don’t know, Gooch & Housego is a niche market leader in optoelectronic components and subsystems. In several areas, it is the global market leader. One of its niches is high-reliability fiber subsea couplers, which essentially connect the internet through undersea cables across the world. It’s said to have at least a 50% market share, but we believe it’s even higher. The company also has technology in laser applications—i Over the years, Gooch & Housego has been a name I’ve followed closely. Like many others, I sold it a bit too early in the last cycle. The stock traded at a very high multiple—aroun Last year, Gooch & Housego experienced some operational challenges—not due to a lack of demand, but because of issues at their factories. These were largely the result of a prolonged restructuring of their manufacturing facilities, which began just before COVID. The pandemic only added to the operational problems, delaying product shipments to customers. This led to a disappointing trading statement before we invested, as they were unable to ship products due to inefficiencies. Nevertheless, they closed the financial year in September with a record order book. Much like James Fisher, Gooch & Housego is not a particularly liquid stock. However, we participated in two block transactions and ended up acquiring 8% of the company, making us the fourth-largest shareholder. Our entry price was around 0.85x EV/sales, compared to the company’s historical trading multiple of more than 2.2x. While it is slightly geared, we believe we’ve invested in a high-quality company at a bargain valuation. Interestingly, we believe we acquired the largest block of shares from an open-ended fund that struggled with the company’s illiquidity. This isn’t just about assuming the company will re-rate and improve—there& Our entry point at 0.85–0.9x EV/sales is very attractive for a business that should grow and generate mid-teen margins. There is also a renewed focus on improving return on capital and R&D discipline. We believe this is a strong example of a niche market leader with growth potential. It’s an international business with a self-help agenda and a refreshed management team. Historically, the company has traded at 2.2x EV/sales. Like James Fisher, sentiment around Gooch & Housego has shifted quickly. We believe it would be nearly impossible to replicate our 8% stake in today’s market, even though the shares have risen by 30%. This is a highly strategic position, and our closed-end fund structure allows us to hold it. We’re very happy with this weighting, as these companies are extremely attractively valued and often overlooked by investors." *Video: |
Posted at 04/9/2024 19:06 by simon gordon GHH:- R&D effort and investment behind the following seven vital few areas:1. Expansion of AO technologies into Semiconductor and EUV. 2. New medical laser technologies and applications. 3. Advanced fibre technology supporting submarine networks. 4. Imaging and sighting systems. 5. Added value around our precision optics and optical coatings capability. 6. Moving up the value chain in Fibre-Optics with a focus on sensing, modules, LiDAR. 7. Medical diagnostics and bio-photonics IVD solutions. -Source: GHH Prelims, 5/12/23. ------ Point six described by ChatGPT: Fiber-optic technology is increasingly being utilized in various advanced sensing applications, LiDAR systems, and integrated modules, driven by the need for high precision, reliability, and fast data transmission in various industries, including defense, automotive, telecommunications, and industrial automation. 1. Fiber-Optic Sensing Overview: Fiber-optic sensors are used to measure physical parameters such as temperature, pressure, strain, and vibration. These sensors are valued for their immunity to electromagnetic interference, high sensitivity, and the ability to operate in harsh environments. Applications: Commonly used in infrastructure monitoring (e.g., bridges, pipelines), aerospace, and military applications where real-time, accurate data collection is crucial. Technology: Distributed Fiber Optic Sensing (DFOS) is a significant area of growth, enabling continuous monitoring over long distances, which is critical in industries like oil and gas and power transmission. 2. LiDAR (Light Detection and Ranging) Overview: Fiber-optic technology plays a crucial role in LiDAR systems, which are used for 3D mapping, autonomous vehicles, and environmental monitoring. LiDAR systems emit laser pulses that bounce off objects, and the returning light is captured and analyzed to create high-resolution maps or detect objects. Advantages: Fiber optics enhance the accuracy and range of LiDAR systems, making them essential for autonomous driving technologies, where precise object detection is critical for safety. Emerging Trends: The development of solid-state LiDAR, which uses fiber optics for light transmission, is gaining traction due to its robustness and scalability for mass production in the automotive industry. 3. Fiber-Optic Modules Overview: Fiber-optic modules are critical components in telecommunications and data centers, providing high-speed data transmission with low latency. These modules include transceivers, multiplexers, and amplifiers. Applications: They are used in high-speed internet infrastructure, cloud computing, and expanding 5G networks. In defense, they are used in secure, high-speed communication systems. Innovation: The push towards faster and more efficient data transmission has led to innovations in dense wavelength-division multiplexing (DWDM) and coherent optics, which enable higher bandwidth and longer transmission distances. Future Prospects The integration of fiber optics in sensing, LiDAR, and modules is expected to grow rapidly, driven by the demand for higher precision, reliability, and data rates in various applications. The continued evolution of autonomous vehicles, smart cities, and advanced telecommunications will likely further accelerate the development and deployment of fiber-optic technologies. ----- It could be that Fiber-Optic Modules are the product that will experience explosive growth in GenAI data centres. Tech investor Gavin Baker talks about optics from the 21 minute mark: Vidrio Financial- 1/7/24 Thematic Investors: Gavin Baker Blending Sci-fi, History and Literature for Tech Investing Success The actual text tidied up by ChatGPT: "A significant challenge right now is that there are only three locations where it's feasible to establish large-scale data centers. The industry has moved beyond 100-megawatt data centers and is now focusing on 1-gigawatt and even 5-gigawatt facilities, which may be necessary to support AGI, GPT-6, XAI 3 or 4, or similar advanced technologies. However, in the United States, there are only three sites where nuclear reactors are close enough together to provide the required power for such data centers. Beyond these sites, the alternative would involve linking separate power plants, which absolutely requires optical technology. This presents a significant challenge because it necessitates the creation of what's called a "coherent cluster," which, as of now, can only be achieved within a single data center at a single location. Given the limited number of suitable sites, many are working hard to develop ways to make clusters coherent across long distances and multiple data centers. The only viable solution for this will involve advanced optical technologies. Moreover, as data centers continue to expand, we are likely to see facilities the size of ten Pentagons, standing ten stories high, and consuming five or six gigawatts of power. In such enormous data centers, coherent optics will be crucial both within the data center and across multiple locations, representing a radical shift in data center architecture—a ----- Does anyone know if GHH are pitching for this type of business? |
Posted at 16/8/2024 12:51 by darrin1471 Considering the markets and the small profit warning, I thought the share price has held up well. I expected worse yesterday at 8am.169,817 @ 455p @ 13:23 Yesterday 533,216 Significant volumes show a buyer and seller are happy to trade at the current price. It looks like the seller has more to sell. The buyer may move the offer lower to tempt the seller. If the seller clears, then the buyer will likely move the price up IMO. |
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