I used to trade it in the 11's and I just saw it now down in the 5's. I had to buy 4,000 shares at 5.25 thinking it is close to it's 52 week low. I don't get it this company has no debt and I would think it is at it's bottom at these levels. Any thoughts?
doesnt take a great analist to figure that this stock should be in the $10-$11's+... market conditions are dragging the very best stocks right now and we dont get these very unique opptys to buy a stock like TQNT trading at less than 5x pe, debt free abd REAL CASH intheir balance sheets!
If last year tqnt could recover for low $5, it was because economy was improving and tqnt only missed one earnings estimate. Unfortunately, this year we are heading to recession and economy is getting hammered and tqnt has missed a few earnings estimates so far. tqnt expenses are much higher and competition is very tough. There is no choice but tqnt to see lower incomes and lower prices, much under $5 prices. Even AAPL is not safe now.
1) Management told one of their biggest customers (Samsung) they needed to source from other vendors. Samsung did and TQNT hopes they will be back (maybe).
2) Management told analysts that the next two quarters would be bad, but after that things will be much better. Analysts sold heavily, and will be come back later (maybe).
3) Management spent heavily on capacity, after they lost business, hoping they will need it later. Maybe that will pan out.
Too many maybees. One good thing is the analysists all have adjusted next Q's eps/rev estimates to the low end of TQNT guidance. Since the quarter numbers were basically in at the time of TQNT's guidance, should be an easy hit.