At a minimum, it probably means they don't need to raise money for a while. Share price has held up ok. Maybe the market will improve this week. My portfolio needs the help.
I know revenues were very low last year, but it will be interesting to see the names of the customers. I haven't given up on Intel using the 3D test equipment. That would be quite a coup if it happens.
Some comments from Barron's today.
ypress Semiconductor ( CY )--down 33% since June 1. The P/E multiple is down from 13.5 times to 9.5 times, at the bottom of its historical range. Synergies remain ahead of schedule and should drive earnings leverage, and current levels reflect revenue 10%-15% below our current forecast, which we think is unlikely to develop.
Usually they wait until after leaving the company. They aren't required to file Form 4s after that I think. I hope the stock is much higher by then for his sake, as well as ours.
34,000 shares traded today. Price was up, so maybe not insider selling. Perhaps there was a delivery? One can always hope.
I certainly don't have the inside knowledge on the company either. But, AT has been the weakest division lately. Perhaps he can be blamed for the performance, justly or not. There are lots of reasons for poor performance in AT, but still, revenues are up nicely over the last 5 years and earnings are not. Maybe we get to hear from the new AT guy at the next CC in a couple weeks.
Sioux Falls, S.D.-May 5, 2015-Raven Industries, Inc. (NASDAQ: RAVN) announced today that Brian Meyer has been named Vice President and General Manager of the Company’s Applied Technology Division, succeeding Matt Burkhart.
"On behalf of the Company, I would like to thank to Matt Burkhart for his seven years of service to Raven Industries, the last six as Vice President of Applied Technology. We wish Matt the best in his future endeavors," said Dan Rykhus, President and CEO.
Rykhus continued, "I am pleased to appoint Brian Meyer as Vice President of the Applied Technology Division. Brian has been our Chief Information Officer for the last five years. Brian is a strong and experienced executive leader who has been instrumental in the transformation of our information technology group into a first-class service provider and in driving productivity and quality improvements across all divisions. Brian’s nearly 30 years of business experience, ability to build and lead high performing teams, and track record of proven results uniquely position him to successfully navigate the Division through the current challenging end-market conditions. We're confident that in his new role the Division will benefit greatly from his capabilities, knowledge and experience."
Hendrickson exercised options on 20,000 shares at $1.95 per share and sold them on the open market for about $2.57 or so. Filing out today.
OK, yesterday was the good news, today the bad. Rhea Posedehl sold 25,000 shares at about $2.60 in the last few days. He still has a million or so, but looks like he may be reducing his position some.
I don't think he would add if he knew of a positive announcement coming right away. Might look bad. Still, we should be hearing something about the Fox-1P deliveries in the next few weeks.
I see that Schneider picked up 25,000 shares in the open market last week at prices from $2.45 to $2.65. I thought they were options at first, but was corrected by a twitter poster.