I was curious on everyones position on simo but nobody posted... Are you guys scared? embarrassed? I bought a lot at $19 back in the day an I can admit it. I don't know you guys and I don't want to. I was just curious of how other people on this board have traded this stock... Basically, I want to know I am not the only person that has waited this long for a COMEBACK!!
I don't hold a huge position, but I bought my shares all at once in early 2008 at $14.99 (really!). I believe SIMO will return to the $20's again when the economy turns around. I learned my lesson, though: Don't EVER trust analyst earnings estimates. They are USELESS!! Don't even look at them!
I bought it 4 times on the way down in '08, at prices along the lines of $12, $9, $5.50 and the lowest $2.80. Then this January I increased my number of shares by 4x at $3.20.
I'm holding through 2011 when the new NAND fabs by Toshiba/SNDK and Samsung start production, then I'll reassess. SIMO doesn't seem to have price pressure issues like the NAND makers themselves, so if units increase significantly I expect SIMO to grow revenues and profits significantly. Those new fabs will increase industry unit capacity significantly, and each NAND chip needs a controller.