Drop 10% from current level- I'll take that bet. I guess I already have.
You act like CY is the only SEMI taking a hit- news flash they all are. Oh, another news flash the whole market is taking a hit.
I wouldn't lay down any bets on it. You are talking about a Co that would have to make an offer double their current market cap-and CY did not pop the story -Reuters- sources !
When CY was bidding on ISSI they were totally transparent.
Look at insider buying in Tahoo finance then you will know what was stated is fact,
Now with that said, 80k is peanuts. If the CEO or CFO woulod buy 200k shares or better then that would imply confidence.
I have to report to you that earlier this week we took action by eliminating approximately $10 million of operating expenses on an annualized basis. We will achieve these reductions through a workforce rebalancing that includes changes to both our storage practice and our go-to-market models. About half of the savings will come from reduced headcount and half from modifications to our compensation policies.
Approximately $2 million of these adjustments will be realized in the fourth quarter of this year. The full impact will be realized in 2016. Based on our current view of next year's
revenues and gross profit, we believe that these expense reductions will allow us to earn at least $1 in earnings in 2016.
I'd suggest you listen or read their past earnings announcement. They stated in 2016 we believe we can earn 1.00 a share in the current business model. No pumping just fact.
I love picking up deals like this. They missed guidance because a deal got pushed into next qtr. The book value is 7.00 bucks and the CEO was open on the CC re 2016 being able to earn 1.00 a share which puts them well north of 10.00.
I love that people can't see past a qtr- Still making money, no debt, plenty of cash
Time to use some of that cash and make a strategic acquisition. The strong get stronger and the weak fall out.
Got costs in line now boost the top line and they will do the dollar per share in 2016 they spoke to in earnings call.
Getting interesting now- trading well below book value of 7.00 dollars per share. Got to start nibbling here-As they start increasing their service portfolio and 10m dollar oh cut takes effect we could see 10 plus next year.