Thank you for this post. I missed this news. Positive news. With reduced share count the earnings may set up for a beat for the year, judged against the April guidance where they reduced the earnings outlook.
Nice P.R. release today on contracts signed deals they set up the past 9 months.
I may buy a little more on this pullback.
CSR plc announces that on 17 June 2014, it purchased from J.P. Morgan Securities plc, 100,000 ordinary shares at an average price of 596.4204 pence per ordinary share. The purchased shares will be cancelled. Following the above purchase, the Company holds 20,111,423 ordinary shares in treasury, and has 166,281,810 ordinary shares in issue (excluding treasury shares).
CSR plc announces that on 12 June 2014, it purchased from J.P. Morgan Securities plc, 120,000 ordinary shares at an average price of 618.8509 pence per ordinary share. The purchased shares will be cancelled. Following the above purchase, the Company holds 20,113,791 ordinary shares in treasury, and has 166,559,249 ordinary shares in issue (excluding treasury shares).
CSR plc announces that on 27 May 2014, it purchased from J.P. Morgan Securities plc, 131,000 ordinary shares at an average price of 572.2579 pence per ordinary share. The purchased shares will be cancelled. Following the above purchase, the Company holds 20,117,330 ordinary shares in treasury, and has 167,983,424 ordinary shares in issue (excluding treasury shares).
I am with you.. Over 38 years as a private investor in stocks I self- mange, I have become disillusioned to the " focus only on the growth" MBA way to run companies. that is why stocks take stairs up and elevators down. I always want a little reward today for my risk of personal capital. Simply buying back stocks only further increases the out of control granting of management stock options. When they execute, we all loose some of that Treasury cash. I feel the overconcentration on buybacks suckers the personal private investor and forces us to think mostly short tem - as management and "stock Professionals" do. This practice. with options, is a major reason why executive compensation is out of control and why so many stocks make round trips up then back down to start over 5 -6 years. We saw 'the Lost Decade" on many. Good dividends from here on will prop the nice share prices we have gained to in 2013 -"put" a floor under share price declines.
Pro money managers are in the same game as management of the companies. That is why we get no where on getting control of management compensation.
Hopefully you voted all your spring proxies and voted "no" on the management compensation and incentive plans. few fund managers will!!
I have no problem paying 35% tax. However it's an issue for me if another party makes more from my labor than I do!
When that point is breached, I ask the parasites to find another host.
So I guess if you are employed you have a deferred salary arrangement where you don't receive any money for doing work today and therefore, have a $0 tax liability while living in your cardboard box (therefore, no real estate tax, insurance, etc.). When you are 100 years old, will you want any dividend return or just let it ride into the next century?
Or the new downgrade. The day Zacks downgrades from strong but to sell, the decline in stock price flattens out, then inches upward the next day!
2014 looks like a coin toss. 1Q Gross revenue was way down and attributed to the luck of one time non-recurring sales that occurred in China in 2013. They said this was expected! Makes you wonder who bought the stock in February in the 50's knowing that.
looks OK for Q2 with revenue normalizing, though their base business stagnated 1Q also - down 11 % from last year. Maybe world economy is truly turning a leg down. margins however looked beautiful, but this market rewards gross revenue (at all price) and is not rewarding efficiency and margin growth as much. A flip from the 90's! I think the stock is safe at $35. They have an expected growth rete in the low 20's, probably changing to high teens.
The market seems to now think this IOT business and smart devices is just a fad. People will get tired of connectivity! The fact that a leading player in the space is now trading in single digit fwd p/e, after allowing for cash, makes it clear the market sees no growth in the Internet of Things. The fact that Intel, Google, Apple, Twitter, IBM, and every major player is betting their future on it does not impress Mr. Market. Could they all be wrong and we're missing out on a fantastic opportunity to invest in the abacus? We'll just have to wait and see who's right here. Sometimes the market can be stubborn.
The gaps down can take 3 to 58 days to work to a bottom. I did add this afternoon to replace what was sold in February. If we go to $35, I will add more. Good luck.
To me dividends for the likes of CSR are foolish. I lose about 50% to various taxing authorities. Much better to retire shares and let the value accumulate as capital. No point burning money!
Agreed. They could also continue and sweeten generous dividends. Looks like we wait for a Samsung recovery - a big customer. Samsung's earnings were poor, for them, the past quarter. They got hammered in Korea two weeks ago. The suppliers follow.
They made a comment on one of my stocks 2 weeks ago and they were wrong on the type of business they were in. Also said they had 0% earnings what ever that means.
Yes, today was earnings and they were not that great. We're now a value stock apparently, sitting on a cash pile.
Google "CSR PLC UNAUDITED RESULTS FOR THE FIRST QUARTER ENDED 28 MARCH 2014" for earnings.
Time to increase buyback. After the hammering of the last 3 months, it's time to start buying back shares in a bigger way. Half of the cash should be used to retire 20% of the shares. At the rate the pps is dropping, carefully timed purchases might be able to reduce the shares os even more.