Not long ago to break 100.000 in volume was a rare thing! one can only please some of the people at best...
We are moving closer to the $4 mark, can't reach conversion rate without crossing 4 bucks.
GL to us all
Summary of your comment: It would be nice if this stock price went up. It would be good for the company and shareholders.
Yikes! Thank you cgoll, I had no idea that suit was still active. It seems ridiculous that it would take six years to settle this deal and at this stage I am wondering if I will still be alive if it ever happens. If and when it happens they should have to pay interest on the settlement cash for those delayed years.
Kind words-Thank you... I have mostly been watching and waiting from the periphery. Despite some frustration, I am confident in the likely progress and upturn ahead. The rather large mood swings over the past three weeks are interesting. But compared to just three months ago, we have seen a significant plateau. After a few deep breaths in response to the drop following the cc, I remain very optomistic in the Co. reaching a much stronger valuation. $5 by Q4? I'll predict $5 by June 15. Simply because IMO by the end of Q2, most savy investors will see the trend headed to profitability-and they won't want to wait til Q3-4 to get the "assurance" that some analysts wait for.... your thoughts?
Checking on the Berdon Claims site; The two VTSS class actions are the oldest suits still in the "Awaiting Distribution" status since 2008. Looks like they are just waiting for someone to say; oh, yea, sure, no problem; distribute the money.
Curious George! your lone option is to buy now and hopefully things will workout for the better this time. personally I believe the company to be on route to great things. Do your DD, study the company, do so before it runs into the 5s and beyond.
Sorry about your looses, the fleas come with the dogs...
Just for settling my own curiosity I wonder if any of you ever got anything from the class action suit of the past. I had considerable shares that were approved as part of the class action and they were accepted but I never heard anything more. Did anybody other than the attorneys get anything at all?
Vitesse Reports First Quarter Fiscal Year 2014 Results
Marketwired Vitesse Semiconductor
February 4, 2014 4:00 PM
CAMARILLO, CA--(Marketwired - Feb 4, 2014) - Vitesse Semiconductor Corporation (NASDAQ: VTSS)
Net revenues totaled $27.1 million including $2.2 million from intellectual property
Product gross margins improved 5.3% sequentially to 57.1%
New product revenue grew 81.5% year-to-year
Total indebtedness reduced with $13.7 million convertible debt repurchase
Vitesse Semiconductor Corporation (NASDAQ: VTSS), a leading provider of advanced IC solutions for Carrier and Enterprise networks, reported its financial results for the first quarter fiscal year 2014, ended December 31, 2013.
"We started strong in fiscal 2014, with net revenue of $27.1 million and exceeded our guidance for revenue, margins, and expenses," said Chris Gardner, CEO of Vitesse. "New products delivered $8.9 million in revenue and intellectual property revenues were $2.2 million. Total gross margin reached 60.6% due to overall product mix combined with cost improvements. Additionally, we amended the terms of our senior secured term loan and reduced our total debt by $13.7 million, providing flexibility for accelerating new product revenue growth and increasing stockholder value."
"We reiterate our financial goals for fiscal year 2014: to achieve non-GAAP operating profitability in the fiscal third quarter and to grow new product revenue to $55 million by year end."
"This quarter, we launched CEServices™, the industry's first field-proven, turnkey software solution for Carrier Ethernet service delivery. Already licensed by over 40 OEMs, CEServices fortifies our leading position in Ethernet-based ICs for 4G/LTE Mobile and Cloud Access for Carrier and Enterprise networks as well as creates access to adjacent markets, such as the Internet of Things."
Some years ago I have many share an dthe three executives back then manipulated the stock by lying to SEC and cooking the books. They jumped ship when the law found out and VTSS since then was out of my radar. I kelp a few shares by mistake by once in a while I check it (like once a year) . I don't know what happened to the three executive , if they got locked up or not but they got the nick name "The Three Amigos". No I look at this stock with book value at 0.28 cents and all negative earnings, profits, growth etc, It looks like this company is a joke (maybe a sneaky joke) and people are trading it? Hard to believe what these people are. Maybe some ignorant kids like what I was back then when I load it and lost.
My friend Cleardrop, welcome back! I share the following.
Once again Crg was dealt a tough deck of cards to play with for several years, the board understood this so they stuck with him.
Competitors like Broadcom, Amcc, Mindspring etc, attacked her turf and all Vitesse could do was watch. The few whom she had deeply entrenched products with helped pay the bills.
What was he to tell us, the absolute truth? that his sales team was having serious trouble convincing customers to believe that they will be available to service the products they are trying to sell, or that the company will be around in 2 years to issues enhancements...
Now we're starting to hear about the 10 million dollar annual customers, the 5 million dollar projects with individual customers, the billion dollar customer who's going to pollinate the world with Vitesse products/ideas.
Keep in mind G, that genetically altered Corn,soy and wheat you ate few hours ago must go through multiple processes before reaching your mouth!
Its soil had to be prepared--then planted, manicured-- harvested, sorted etc-- shipped to customer warehouses-- finally about a year after that item was removed from the soil it reaches your plate.
Vitesse is going through the same process! I see where Billy Martin appreciates the direction Crg is taking.
Once again seeds planted in 2012, which I consider the year that Vitesse started regaining some respect or at least customers started realizing she was going to live after all; are coming to harvest as we speak! there was some delay in LTE stuff but it's starting to happen.
forgive my simply ANALOGY, perhaps I am too much of a simpleton but time will tell...
Thank you both , for your insight and comments. I missed that, so appreciate it. Am surprised they anticipate less revenue for Q2, yet still affirm expectation of profitability by Q4.
Also don't agree with the logic of the Hold at $3.50 target price, when the price was higher before yesterday 's hold sentiment. Why hold if no expectation of growth and stock raise. If stock will rise, may as well buy, get it? The sentiment does not match the investor confidence at large, or does it? This company sure seems to drag its feet at times, or not know how to market itself powerfully...( I'm just frustrated!) It is an industry leader in ic, but not yet profitable! (frown)
Well, yes..... I thought you were going to comment on substance, about the broker/firm that downgraded VTSS yesterday, but instead some vague yammering, boosterism & speculation. If anybody has more on the "downgrade," ("off the wall" or otherwise) post away please.
depends when stock vested, at time of vesting, tax due, so some stock is sold. Means nothing. THis gouy can assure you does not file on 415, goes on extension
Stock drops a little from some broker that probably needed to cover a short. Overall market was down so VTSS is on track from conference call 2014 and 2015. I say buy and by year end you won't be disappointed!