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  • wonkko wonkko Jan 31, 2013 12:15 AM Flag

    Land and products

    I would never own cirrus. One customer, my guess one product with that one customer??? Fabless chip, which means they basically have a design??? And that design will compete with another company that has a design??? If the technology changes in a few months, the other company might win the contract and then ciruss is left with... not much, and a drop of 70% in the stock price. Other than P/E, cirus is expensive in every metric. And P/E can vanish in one day.

    Try replacing NTE. You need to replace a plant with 10,000 people, and QA programs , expertise…. etc etc..... And the industry is tight, you don't really have spare capacity lying around. Also NTE has more cash/share and cheaper book value, and now the land that is worth a huge amount. I could keep going but I think that is enough.,

    To be honest, I know nothing about cirrus, so i may be wrong. I never got past the one customer and fabless design aspect.