Wolfson

I've seen shares fall on good results before but this is just silly!

Surely this has got to be a buying opportunity!

Financial Highlights

Revenue increased by 94% to $56.9m (H1 2003, $29.3m)
Gross margin improved to 50% (H1 2003, 46.4%)
Profit before tax increased by 123% to $9.3m (H1 2003, $4.2m)
Diluted earnings per share increased 94% to 5.77c (H1 2003: 2.98c)

Operational Highlights

158 design wins in the period
9 new products introduced in the period
Continued strong uptake of products by major OEMs
Increased sales in Japan and Korea to 29% of group turnover
31 new technical and commercial staff

I too think this is silly. With those results the price should be going the other way. Bought in this morning and now waiting for a bounce up to aroung 2.9

I think its more to do with the market as a whole then the company, it
seems possible that some 'goodies' will get lost in the negative sentiment
that's about currently - chart looks very tempting I must admit!!!
(but I'm a bargain basement fanatic! lol)
good for you hope it rises well for you!

Behind the figures there is a court case going on in the States on patient
infringement and it is costing, plus debt level is not low, a couple of
factors possibly worth keeping an eye on. I got the scant details above
from the PDF version of the company report on their website if anyone
wants to research them further it is easy to find in the investors relations section.
http://www.wolfsonmicro.com

Thanks stockbunny,

I've been searching for info like that before before deciding but you got there 1st.

I think I probably will buy for the long term with hopes of a short term rise as well.

Good luck with it Apple!

Thanks,

Still deciding.

Times Link

July 27, 2004

The Times

Tempus


Wolfson Microelectronics

INVESTORS in technology stocks are a flighty bunch. And who could blame them? After enduring a traumatic meltdown in the high-tech sector, it stands to reason that they would be a little gun-shy. So it was hardly a shock that Wolfson Microelectronics, the biggest tech flotation last year, dived in value yesterday after giving warning that the Chinese market for DVD players may grow more slowly than it thought in the second half of the year. After all, China accounts for at least 10 per cent of Wolfsons annual sales.

Wolfson, like ARM Holdings, specialises in designing microchips found in many of the most popular gadgets on the market. Its technology converts analogue signals into digital ones understood by computers. This is a growth market and is prone to swings in trading conditions.

But Wolfson is different from many of its peers in that it makes a profit. Some investors may be disappointed by the companys more cautious outlook for sales in the second half. But even with a weaker sales outlook in China, group sales growth is likely to exceed the 94 per cent leap it made in the first half. Critically, the company is also lifting its gross margins a key measure in the microchip market faster than expected. Wolfsons shares are now back at the level at which they were floated last year and trade at 19 times 2005 earnings per share. That is a modest multiple for the microchip market, which includes peers that are growing far more slowly than Wolfson. Buy.

Times Link

You think it will go down some more before it comes back???

Crazy really, how good did people expect the results to be???

Looks worth the risk, I am in with just a wee flutter....

Good luke to all in....

I think this is drop is due to similar sentiment attached to it as Telecom Plus Bespak, Traffic Master, Retail Decision etc. My feelings are, (Hopes) are that there will be equally rapid recovery when the market find its direction again. (I again hope up^^^) Dump Bush and B Liar and perhaps the economies and markets and political scene may settle a little.
What effect will Yukos going belly up have on the market.

I'm in!

There were some big sells earlier but the price has hardly moved.

So I'm guessing that we have found the bottom.

not yet. Catching knife comes to mind

Good call Snip, falling knifes are hard to catch and often end in tears, that why I called this one a wee futter :)

I will stick to my normal rules, and if it heads the wrong way and gets to my jump out price I will take the hit and curse my stupidness :)

Simon

Snip & simonpaynton,

You may be right!

I was hoping for a bounce this morning but it didn't happen & the more I look into the patent dispute, the less I like it.

With most pundits predicting a general fall in the markets as well, I'm even more nervous about it.

Sooooo, I've sold most most of them at a small loss.

& a small regret rather than a big regret.

Simon+ If you have a look at the intraday candle chart for to-day it would seemed to me that you may have caught the reversal. Wait until the morrow.

Fred1new, the drop in share price does look like it has slowed (maybe stopped), but what shows that in a candle chart??? is it the flat line??? With any luck this may have reachead the bottom.... I really hope so, I aint had much luck these last few months..

Simon

The problem I seemed to have at the moment is trying to think what a share should be doing, rather than accepting what it is doing. Any time I try to forecast from the charts of the shares I am interested in, the reverse seems to happen. Last night this share seemed to show possibillity of rising in the morning sun. Looking at the 2 day candles to-day there appears to be a power cut and the chart is heading south again. Watch for the reversal as I write this. The volumes are small.

Still think the drop in price is overplayed in regards to fundamentals and it will recover in the long term. I will continue to hold. May if I see the bottom buy some more. Watch out for directors buying.

I'm glad that I had 2nd thoughts.

BUT I'm still watching, ready to jump back in.

This is a typical fall after such a strong warning from the Company about future suppies.

Some weeks back, Institutions were buying strongly at 240 and got the price up to the 280's-290's. They must have done that with a reason in mind.

Prior to that and just before the end of year results the price was a bouyant 3 plus, but after the strong results for the year the profit taking happened and down it went.

I do not think that this will bounce back in the short term to any previous level in the near future. I think it will drift below 2 and not really know where it should be until such time as the Company are able to reassure that the suppy problem which they foresaw, is surmounted, and who knows when that will be.

IMHO do not buy yet but wait for a turn around based on some evidence of this.

If I held now at a higher price, which I don't as I sold prior to the above, I would battern down the hatches and wait for the storm to clear.

DYOR

a gap down like this in candle charts is bearish. If you are going to buy then watch for good strong positive volume and preferably a bullish candle. When reading charts it is important to be a detached, unthinking observer

(try printing a chart and turning it upside down if you aren`t sure)

Why buy something that is clearly in downtrend in the hope you have caught the bottom when there is no clear evidence that it has bottomed out.
Wait for it to turn and go into uptrend, on rising volume if you wish.
So you may lose a few points in doing so but you will sleep at night, smug in the knowledge that you are immediately into profit. Bottom fishing is very dangerous. You will lose more than you win.

and the important clue was in the bearish candles at around 220. Prices had tried to go higher but were rejected

I agree with all above. W/s a bit longer until price and volumes are definitely trending.

Yep, all good advice...

Thankfully after a sensible re-think I sold my minor share this morning (when it was 0.3% down), took a minor hit, hopefully this time the lession will stick with me :)

Simon

simonpaynton Annd the rest.

Thanks for a good thread of learning for all on this one.

Very interesting all the way through.

Good luck Si

simonpaynton

A lesson for us both!

Yep, first lesson of shares, dont worry about making mistakes :)

Trouble is I read books, look for good shares, find um, then buy something completely different in a bout of crazy thinking........

Saying that, just to prove I never learn, I sold this share and then purchased TES (when it was up 70%) and its now up to 120%, already got a nice profit..... Still bonkers to buy that, but hey, worked out this time.......

(Watch it fall flat on its face in the morning)

Simon

Sell now then.......

seawallwalker,

I sold yesterday, shortest time I've ever held a share.

Good stuff, but what about simonpayton.

He should too..........

Should what???

I sold WLF first this this morning when it dropped to -0.3%, so I am out....

Simon

Chart looking tasty once again. I'm in for the recovery @ 174 p/s. Am I right to say this is below its floating price?

Correct it is.

It is tempting but it keeps slipping below the 170p mark followed by a 10p rise.

Does not seem to know where it should be yet.

It used to be 320p & then it fell for no good reason & I thought it looked like a bargain but it only recovered a little bit & then it fell again for no good reason & keeps on repeating this & looking like a bargain.

BUT I wasn't tempted until the big fall after the good results BUT it fell yet again so I took a small loss & got out & then it fell even further.

If I knew why WLF was so out of favour then I could decide if it was worth a punt again.

Do you know?

Just before the last results ther was a big rise in the price from 250ish to 290 ish, that was as a result of Instituion Buying.

I can not see why they should have bought and then watched their interests disappear by a 1 loss per share.

None of which adds up.

Crazy!

It seems crazy but there has to be a reason even if that reason is misinformation & inncorrect rumour.

I haven't heard anything.

If had then at least I could disagree with it or agree with it.

The only negagtive I rememeber is the demand in China was expected to decrease. This is significant as over 10% (I Think) profits are from there. Not sure of the detail. DYOR and post ur comments here for everyone to see.

yr Turnover m
2000 8.78
2001 11.12
2002 20.92
2003 42.44

Up yr on year and the price is still slumping I think this one is going to see a good recovery for the next six months. I'm in @174 with a medium/long term view.

Wolfson wobbles on China caution
Published: 11:36 Mon 26 July 2004
By Cliff Feltham, Companies Correspondent

Soaring demand for sophisticated electronic chips needed for MP3 players and other gadgets has created near boom conditions for Wolfson Microelectronics, but the shares are down sharply on concerns about China.

Chief executive David Milne today forecast that the second half would be even better than the first resulting in annual revenue growth of between 70-80%.

But the shares slid 32p to 219p just above last October's float at 210p on Wolfson's caution that demand from Chinese manufacturers of DVDs may not be as strong as expected.

The share price has been as high as 332p. The float was marred by news of a lawsuit from US group Cirrus Logic alleging patent infringement. Wolfson today said it continued to defend the case vigorously. Legal costs amounted to $1.8 million in the first half to the end of June. A similar figure is expected in the second half. The case is due to be heard later this year.

Edinburgh-based Wolfson (WLF) is known as a 'fabless' semiconductor company. It designs chips and sells them to large consumer electronics manufacturers. It does not actually own the huge wafer fabricator plants where the chips are produced. It subcontracts the manufacturing, hence the description 'fabless'.

First half revenues grew by 94% to $56.9 million (32 million) while profits before tax increased 123% to $9.3 million. Margins were an exceptional 50% reflecting the premium prices customers are prepared to pay for high quality chips. The company sees margins continuing in this area for sometime.

Milne told Citywire that the company had surpassed expectations 'on every measure'. Demand has been driven by manufacturers of audio and video systems and portable devices such as MP3 players, multimedia mobile phones, digital cameras and games consoles. This market is expected to double over the next three years.


'These new products based on digital technology require high performance mixed signal interface products such as those produced by Wolfson to allow users access to digital information,' said Milne.


As well as a strong 2004 the company is also anticipating 'high growth' continuing into 2005 underpinned by a healthy order book. But the market was slightly un-nerved by news that demand from Chinese makers of DVDs may not be as strong as anticipated.

Citywire Verdict:
Wolfson is in lift-off at the moment fuelled by the launch of new digital consumer products but at some stage margins are bound to come under pressure as manufacturing capacity out-strips demand. However, today's fall looks an over reaction and in the meantime the shares look good value.

Retracing again after a decent rise. Any views?

A little patience and this share will company will show its quality.

Agree with Fred1new

A bit more patience & I might even get a better price before it recovers.

I'm also waiting to top up but below 170.

September 27, 2004 12:37 PM US Eastern Timezone

Wolfson Moves into Audio for Digital Still Cameras; Launches First In A Series Of Audio CODECs For Cameras

SAN DIEGO & EDINBURGH, Scotland--(BUSINESS WIRE)--Sept. 27, 2004--Wolfson Microelectronics plc (LSE:WLF) today announced a mono CODEC addressing all of the major digital still and video camera audio requirements on a single chip, in response to growing demand for high-quality sound in portable, digital recording and camera equipment. The Wolfson WM8974 is a low-power, feature-rich CODEC and is the first in a series of products to be coming from Wolfson targeting digital still cameras and digital-voice recording applications.


The WM8974 features a DSP core that provides a wind-noise filter to improve audio recording during video-recording mode, a five-band equalizer to improve audio output and a programmable notch filter to reduce motor noise. The WM8974 also includes an integrated PLL supporting a wide operating frequency range from 12 to 19MHz. The device supports a differential or single-ended microphone complemented by the microphone pre-amp and ALC, followed by an output stage where the drivers for speakers and headphones are included to reduce component count in the final system. With the support of up to 5V, the speaker driver is capable of driving an industry-leading speaker output of up to 900mW.

The WM8974 operates at power supplies as low as 2.5 volts and consumes less then 10 milliamps during 48kHz playback, and operates on 1.62 volts in standby.

"Digital still cameras are increasingly differentiated by their audio capabilities and Wolfson is releasing a series of compact, high performance, affordable solutions that address this opportunity," said Yan Goh, product marketing manager at Wolfson

For what it is worth, I think this stock has great potential, but not buying in till the price knows where it wants to be.

Up one minute down the next, where is the support level?

seawallwalker

I agree.

Tue 28 Sep 2004


Boston boost as Wolfson grows


SCOTTISH technology company Wolfson Microelectronics has opened an office in Boston, its second in the US and its sixth base overseas.

The Boston office will support the companys expanding business on the east coast and complement Wolfsons first US office in San Diego, California.

Jeff Rozmus, who has been with the company for two years, is relocating to Boston to run the new office.

The semiconductor-maker also said it had moved into making audio chips for digital still cameras.

Wolfson has created a single chip that covers all the major digital still and video camera audio requirements in cameras, in response to growing demand for high- quality sound.

"Digital still cameras are increasingly differentiated by their audio capabilities, and Wolfson is releasing a series of compact, high-performance, affordable solutions," said product marketing manager Yan Goh.

http://business.scotsman.com/technology.cfm?id=1134932004

Down again, another 4%

The price looks more & more attractive every day.

I'm not buying yet, I just don't know where the bottom is going to be.

Maybe the best time to buy will be in a couple of years when the Semiconductor market begins another upswing.

Thanks, Apple, for your comments re my Port operation. Now. This semiconductor market seems fraught with hidden dangers. Always the possibility of major developments that, might, supersede existing s.c.inserts.Trouble is that we have to differentiate from the stumbling goliath and the astute,nimble, operator who can ride with the punches. Wolfson Micro SEEMS to fall into the latter category BUT I agree with Apple. Might be worth waiting until we see what happens to Intel in China

Up a bit.

I wonder if this is the bottom?

Or is it yet another temporary rise?

(COMTEX) A: Wall Street techs - Chips lead afternoon tech advance ( AFX-As
a )
A: Wall Street techs - Chips lead afternoon tech advance ( AFX-Asia )

SAN FRANCISCO, Sep 30, 2004 (AFX-Asia via COMTEX) -- Technology stocks remained
relatively upbeat Thursday afternoon as chip stocks got some good news about
sales and inventories from an industry trade group.

Chip stocks rose after the Semiconductor Industry Association said global sales
in August rose 1.1 percent to $18.2 billion and there were signs that
inventories are declining. August sales grew 34 percent from a year ago.

Advancers included Applied Materials , Advanced Micro Devices , Xilinx Inc. and
LSI Logic ................................

http://finance.yahoo.com/q/bc?s=^SOXX&t=3m&l=on&z=m&q=l&c=

A decent rise of 5+% today but still low volumes. This needs to go above 195 to get the uptrend started and above 210 to start heading north.

RNS Number:6827D

Wolfson Microelectronics PLC

4 October 2004

Wolfson Microelectronics Plc (the 'Company')4 October 2004 Section 198 NotificationThe Company was notified on 4 October 2004 by UBS Global Asset Management LifeLtd ('UBS') has an interestin 3,810,512 ordinary shares of the Company ('Shares'), representing 3.52% ofthe issued share capital of the Company.

UBS is increasing stake

hopefully it'll start to move back above 200p now

195 first barrier then 210 according to chart.

Still don't know where this is going, every time I think it can't go lower, it does.

Glad I stayed out.

Maybe we've seen the bottom but I thought that before so I'm still watching.

topped up today
looking for 220p

Chip-related stocks gained again as the Nasdaq climbed with ASML up 1.4 per cent to 11.28 and Infineon 1.4 per cent higher at 8.87.

RNS Number:8434D
Wolfson Microelectronics PLC
07 October 2004



Wolfson Microelectronics plc (the "Company")
7 October 2004

Section 198 Notification

The Company was notified on 7 October 2004 by Fidelity Investments on behalf of
FMR Corp.("FMR") and its direct and indirect subsidiaries (which includes
Fidelity Management & Research Company ("FMRCO")) and on behalf of Fidelity
International Limited ("FIL") and its direct and indirect subsidiaries (which
includes Fidelity Investment Services Ltd ("FISL") and Fidelity Pension
Management ("FPM")), pursuant to Section 198 Companies Act 1985 that its
interest in the Company has increased to 16,146,005 ordinary shares in the
Company ("Shares"), representing 14% of the issued share capital of the Company.
In addition, this notifiable interest also comprises that of Edward C Johnson
3rd, a principal shareholder of FMR and FIL.

Monday September 27, 06:00 PM
Wolfson Provides Single Front-End Solution to Fast Growing Multi-Function Printer and Scanner Demand
SAN DIEGO & EDINBURGH, Scotland--(BUSINESS WIRE)--Sept. 27, 2004--Wolfson Microelectronics plc today announced a new addition to its portfolio of high-performance analog front-end (AFE) digitizer devices. This new, fast pipeline ADC converter is specifically ADVERTISEMENT


designed for use in high-speed, next-generation digital photocopier products. Digital photocopiers typically use odd/ even two output CCD sensors, either using one for monochrome operation or three for color implementations. Wolfson's latest AFE is designed to be used on a one per sensor basis. It may also find applications in very high-speed, flat-bed scanners.

The new 2-channel Wolfson WM8216 offers a 60 MSPS conversion rate, 10-bit resolution, dual channel operation and correlated double sampling. Power consumption is low at just 330mW typical. It provides a highly integrated solution, integrating all of the major analog signal conditioning and A-D conversion requirements of the interface between image sensor and the main digital architecture of a photocopier system onto a single mixed signal device. This includes a 9-bit programmable gain amplifier and an internal 4-bit DAC, for internal reference level generation, which may be used to reference CIS signals or clamp CCD signals. Alternatively, an external reference may be supplied. Both the analog and digital parts of this device operate from a 3.3V supply.

"Digital photocopiers are sold in a growing and highly-competitive market," said David Milne, CEO of Wolfson. "Good system partitioning between analog and digital parts of the architecture is vital and cost effective high speed data conversion is needed to keep performance up and costs down. The new WM8216 responds to these needs, giving designers the performance they require, within a highly integrated solution that remains straightforward to implement in their system."

Price and Availability

The WM8216 is available in a 32-pin QFN package, priced at $3.73 in quantities of 10,000.

About Wolfson Microelectronics

Wolfson Microelectronics plc is an award winning, fabless semiconductor company based in Edinburgh, UK. Wolfson develops and markets high-performance mixed signal semiconductors for multimedia and communications applications worldwide. The company currently has sales offices in the USA, Japan, China, Taiwan and Korea. For further information please contact: sales@wolfsonmicro.com

For more information about Wolfson Microelectronics products and services in the US, Call: (858) 676 5090. For additional information, visit:

http://www.wolfsonmicro.com/

What the Papers Say: Wednesday 6th October 2004
The Independent

*Talk of bullish statement from Wolfson Microelectronics (LSE: WLF.L - news) .

Interesting!

Hi apple, not a buyer of this stock yet, but honestly it seems to move from, 250p to 300p quite frequently.

Could be some nice earnings there.

cheers GF,

Very hard to judge this 1.

I'm staying out for quite a while, everytime I think it has found the bottom, it makes a new totally unjustified low.

It's down because Merrill is neutral on Wolfson Microelectronics (LSE: WLF.L - news) (while cutting estimates)

http://uk.biz.yahoo.com/041008/336/f465e.html

Thanks azhar that explains today.

Still doesn't justify how low this has fallen recently though.

Still not buying it.

The whole Semi sector was down on friday in the US which brought everything down in the UK. I would suggest hold for all those already in like myself and wait for others wanting to buy in. There is still a possibility that it may go back to 155+. at this point I will be considering to average down. initialy I bought in @174 and topped up on the way up @185. I was in profit for a short while but now loosing. I invested with medium term view of 4/6 months so I'm confident that it will be trading in the 220-300 range by then. Good luck to all holders.

Hard to believe that this was over 3 just a few months ago.

Down 53p, ouch!

Wolfson cuts H2 sales forcast to 56-60 mln usd on sluggish pre-Christmas trade
AFX


LONDON (AFX) - Wolfson Microelectronics PLC has cut its second-half sales guidance to 56-60 mln usd after a 'lack of the typical pre-Christmas surge in demand' for some of its products.

It now expects a full-year sales growth rate of 50-55 pct, down from a forecast of 60-70 pct made after its interim results.

tc

DOWN over 30%

I was right to stay away from this!

So was I.......

good call guys. Being stung badly here. live and learn then !!

Wolfson Microelectro - Trading Statement
RNS Number:9185DWolfson Microelectronics PLC11 October 200411 October 2004 Wolfson Microelectronics plc Update on TradingWolfson Microelectronics plc (Wolfson or 'the Company'), a leading supplier ofmixed signal semiconductors for the digital consumer electronics market,provides an update on trading since the announcement of the interim results on26 July 2004.Statement on Current TradingIn common with other semiconductor companies, Wolfson is experiencing a slowdownin some of its end markets. Although trading until recently was broadly in linewith expectations, order intake levels have led the Company to reassess itsoutlook for 2004.In the consumer audio segment, particularly DVDs, the acceleration in ordersnormally seen at this time of the year is not occurring. This is due to a buildup of surplus inventories at manufacturers, causing some customers to cancelorders and delay placing new orders as they deplete their excess inventory.The Company is continuing to experience strong growth in portable products withsales in this segment expected to more than double in 2004, compared with theprevious year, making it the largest contributor to the Company. However, theuptake of multimedia mobile phones in the end market has been slower thanexpected, causing some customers to scale down their orders.Trading within the imaging product sector is in line with the Company'sexpectations.As a result, Wolfson now expects its second half revenues to be in the range$56m-$60m. This equates to full year revenues of $113m-$117m, representing anannual growth rate of 50%-55%. Gross margins continue to be in line withprevious guidance of 49-51%.The Company continues to expand its customer base, particularly in Japan and theUSA where it has won significant design-ins for major new digital consumerproducts that are to be launched under global brand names next year. Inaddition, the Company has expanded its portfolio with new products that arebeing adopted in the latest digital consumer applications. Hence, in spite ofthe challenging current market conditions the Company expects to deliver growthin 2005.David Milne, Chief Executive Officer of Wolfson, said: 'We are revising ourguidance for the second half because of a lack of the typical pre-Christmassurge in demand for some of our products. Although this is extremelydisappointing, Wolfson will still deliver substantial growth in 2004.'We are continuing to gain market share with our products that are featuring inan increasing number of high profile digital consumer applications supplied bytier-one US and Japanese multinationals. The business remains strong and weexpect to deliver growth in 2005.'Note on Cirrus Logic litigationAn initial determination in the US International Trade Commission investigationinitiated by Cirrus Logic (referred to in previous statements) is expectedaround mid-November. The Commission is expected to issue a final determinationby mid-February 2005.Enquiries:Wolfson MicroelectronicsDavid Milne, CEO 0131 272 7000George Elliott, CFOCorfin CommunicationsHarry Chathli, Neil Thapar 0131 272 7398 on the day and thereafter 0207 645 2990 This information is provided by RNS The company news service from the London Stock ExchangeENDTSTFGMMGMGKGDZZ

sales growth rate of 50-55 pct still sounds good, doesn't it?

Balance sheet as at 30th June looks very clean, modest stocks and substantial net cash. Prospects remain satisfactory, even if well below earlier expectations. I think the fall overdone, but only committed to 2500 shares at 102p, with stop loss at 80p, just in case this warning is not the first.

Re the above post - should have referred to this warning not being the last - even an old codger like me can tell it is the first!

partridge

Make sure you stick to your stop loss.

The fall was overdone when it fell in July but it went on & on falling.

There must be some shorting going on.

Plus the semiconductor matket is heading for downturn.

partridge, same here bought some more @ 102.5

shares plunge on sales warning
LONDON (Reuters) - Wolfson Microelectronics (LSE: WLF.L - news) has lost over a third of its market value after it scaled down its guidance for second-half revenues, blaming slowing demand in some key markets.

Shares in the firm were 30 percent lower at 115 pence by 8:35 a.m. on Monday, off early lows of 105p, after the supplier of parts used in DVD players and cameras said it now expected second-half sales to come in at between $56 million and $60 million (31 million and 33 million pounds).

In July, Wolfson had reported 94 percent growth in first-half revenues to $56.9 million and forecast even greater revenue growth in the second half.

"We are revising our guidance for the second half because of a lack of the typical pre-Christmas surge in demand for some of our products," Chief Executive David Milne said in a statement.

"Although this is extremely disappointing, Wolfson will still deliver substantial growth in 2004."

Wolfson's second-half guidance will put it on course to achieve 2004 revenues of between $113 million to $117 million, up between 50 and 55 percent on a year earlier.

Analysts had pencilled in 2004 revenues of $134 million, according to a consensus forecast from Reuters Estimates.

The Scotland-based company, which listed on the London market last year, said that while trading was broadly in line with expectations until recently, order intake levels had since suffered.

In the DVD market, an acceleration in orders usually seen at this time of the year was not taking place due to a build-up of surplus inventories at manufacturers, causing some customers to cancel orders and delay placing new orders.

Market purchases of multimedia mobile phones were also slower than expected, causing some customers to scale down their orders, Wolfson said.

However, the company said it continued to experience strong growth in portable products such as music players and forecast sales in this segment would more than double in 2004, making it the largest contributor for Wolfson.

Monday's warning caused Wolfson's market value to fall to around 116 million pounds

Milne added it was still seeing to experience strong growth in portable products such as music players and forecast sales in this segment would more than double in 2004.


http://uk.biz.yahoo.com/041011/214/f4b8d.html

Citigroup Smith Barney reiterates buy Wolfson Microelectronics (LSE: WLF.L - news).

http://uk.biz.yahoo.com/041011/336/f4bbo.html

azhar

Like I said in July, this fall is just silly but then it just goes on getting sillier.

I'm still staying out of this 1 until after the next big fall.

These things tend to happen in threes, don't know why.

Good call apple i.e. wanting to stay out.I'm in and staying in for the next 4/6 months as stated previously.

guys if you are investing for the medium term then WLF could be a great investment.

I understand from a friend that they are well positioned for the big change in DVD technology which is coming next year with the introduction of Blu-ray. This change will require significant changes to DVD equipment & could well play into their hands. I would expect to see them sign up some more major players in the coming months.

Whooa! Sure some people want to have the latest kit, but the vast majority are quite happy with players and things that fit in your ears. That sadly is the bulk of the market and provided the darn thing works then they are unlikely to buy again, just because it's blue.
My understanding is that the shorter wavelength of blue light means more data can be squeezed onto a disc - good news if you want to offer extra features to a film - interviews, discarded scenes etc.
However, I doubt there will be a surge in demand - much like the damp-squib effect of new phones (with cameras) - a great idea if you don't have a phone, but not sufficient to make you ditch the old one. For a technology to be a "must have\" it needs to offer a step-funtion of Improvments; neither DVD's or Phones have this, IMHO. I don't yet hold these. Maybe if the price came down to give a distinct buffer-zone should another PW come along -(yes they do come in 3's = one more to go.)
Regards

Wolfson not so fab as China problems escalate
Published: 13:12 Mon 11 Oct 2004
By Douglas Bence, Companies Correspondent
Email to a friend | Printable Version

'Fabless' semiconductor company Wolfson Microelectronics sees more than 50 million of its market value wiped away as investors run scared of its latest warning.

Sales of DVD players and multi-media mobile phones have dried up in the Far East, forcing the company to reduce its anticipated sales forecast for the second half of the year from between $113-117 million to $56-60 million. Gross margins remain between 49-51%.


After the downgrade Wolfson expects revenue growth between 50-55%. This compares with expectations of 70%-80% growth at its interims in July when the Edinburgh-based company first cautioned about the weak demand from Chinese manufacturers.


Shares in the company (WLF), which unfortunately Citywire tipped after their listing a year ago, crashed 62.5p to 101.5p, a fall of 38%.


Formed in 1984 by David Milne and Jim Reid, Wolfson supplies mixed signal semiconductors for the digital consumer electronics market. It is known as a 'fabless' semiconductor company because it designs chips and but subcontracts the manufacturing to partners in the United States, Asia Pacific and continental Europe.


Trading was in line with expectations until recently, but a slow down in the sales of the end products in the Far East led to orders being cancelled or delayed.


The biggest contribution to revenue comes from the sale of chips for MP3 players and Palm products which are still expected to double this year. Trading in the imaging product sector is in line with expectations.


We are revising our guidance for the second half because of a lack of the typical pre-Christmas surge in demand for some of our products, said chief executive David Milne. Although this is extremely disappointing, we will still deliver substantial growth in 2004.'


New customers in Japan and the US for new digital consumer products will allow the company to grow next year, he added.

2004 Citywire

Stay out if you can ufn.

hangon,

Blu-ray is a step change, 4.7Gb to around 30Gb which is eagerly awaited by PC users, they want bigger DVD writers.

BUT that's not the point, I doubt if WLF will get much of the market for the chips to control those drives. Those chips are normally designed by the drive manufacturers themselves.

The price of WLF just gets sillier, such is the reaction to management overestimates even though WLF is doing fine & has what looks to be a very good future.
Stay away from WLF, until after the 3rd big fall.

Mixed messages on this stock guys.

Times says avoid, Merrill Lynch upgrades hold to buy, Citigroup say hold from buy!!

http://jump.digitallook.com/?type=art&eai=27557988&username=1034164&ac=207859

http://www.portal.telegraph.co.uk/money/main.jhtml?xml=/money/2004/10/12/cxquest12.xml#2

http://jump.digitallook.com/?type=art&eai=27557833&username=1034164&ac=207859

http://jump.digitallook.com/?type=art&eai=27557845&username=1034164&ac=207859

Times October 12, 2004

Tempus

Wolfson Microelectronics

INVESTING in technology shares is not for the faint-hearted. Another painful demonstration was provided by Wolfson Microelectronics, which makes silicon chips used in consumer electronics. The sale of DVD players has failed to take off, as Christmas beckons. In addition, consumers have also been slack in buying Wolfson-powered high-end multimedia mobile phones. As a result the company blew its forecasts.

Wolfson said that its revenues in the crucial second half will be between $56 million (31 million) and $60 million way below the $79 million that the house broker, Citigroup, had pencilled in. Not surprisingly, investors panicked at the width of the miss, and the shares fell 38 per cent.

In some ways the judgment is harsh. After all, Wolfson is growing fast. If the second half meets the revised target, then sales will be up by about 50 per cent on lastyear. Margins too have held up. But none of this matters if the company cannot meet the exalted expectations.

The temptation at this stage is to conclude that the shares may now be cheap. This is usually a mistake because profit warnings usually do not come alone. Indeed, Wolfson gave investors a hint of the problems in July, saying that demand from Chinese DVD makers had begun to wane. At that time, the company blamed a glut in the market, and added that there was no build-up in inventories. Now it turns out that inventories unsold stocks are on the rise. That should set alarm bells ringing: it may be some time before Wolfson sees real stability. AVOID.

Times October 12, 2004

Wolfson warning sends rival CSR down
By Nick Hasell
Smaller capitalisation shares

A REVENUE warning from Wolfson Electronics left its larger semiconductor rival CSR with the biggest fall in the FTSE 250.

Followers of CSR, floated at 200p in February, have been seeking clues to the strength of demand for microproccessors ahead of the companys third-quarter results on November 9.

Yesterdays update by Wolfson, off 62p at 101p, only served to confirm the recent gloom of US chipmakers. Wolfson, whose semiconductors go in DVD players and cameras, said it had seen little sign of the traditional pre-Christmas surge in demand, and revised its full-year revenue guidance down to 113 million, from $117 million, against a consensus $134 million previously. CSR, which, as a developer of Bluetooth applications, is also exposed to consumer electronics demand, fell 17p to 349p, while TTP Communications, the wireless technology specialist, lost 4p at 51p. The FTSE 250 fell by 7.5 points to 6,372.0.

They are now forecasting GROWTH of 50-55%..........how bad is that ?

Wait for the next big fall before jumping in.

Intel shares rise following Q3 report
By Chris Kraeuter, CBS.MarketWatch.com
Last Update: 5:00 PM ET Oct. 12, 2004

SAN FRANCISCO (CBS.MW) -- Intel reported third-quarter sales near the top of its reduced expectations late Tuesday, but the world's largest chipmaker said fourth-quarter sales could fall below what Wall Street expects.


Shares of the Santa Clara, Calif.-based company (INTC: news, chart, profile) rose 3.7 percent to $21.02 immediately after the results were announced following the closing bell.

Intel's chips go into four of every five computers built around the globe. The company also makes chips used in cell phones and networking gear.

Intel reported third-quarter net income of $1.9 billion, or 30 cents a share, on sales of $8.47 billion. During the same quarter last year, Intel reported net income of $1.7 billion, or 25 cents a share, on sales of $7.8 billion.

Intel's net income included tax-related items that boosted per-share earnings by 3.6 cents. Intel's tax rate for the quarter was 21.4 percent, below the 29.5 percent rate the company detailed during a midquarter update early in September. The tax benefits came from export sales and state tax benefits for divestitures.

Actual gross margin was 55.7 percent compared with the company's expected level of 58 percent and versus the previous quarter's margin of 59.4 percent. The company stated the lower margin was due to higher inventory reserves, increased sales of lower-margin products like chipsets and motherboards, and an inventory writedown.

Analysts had expected earnings of 27 cents a share and sales of $8.44 billion, on average, according to Thomson First Call.

During the previous quarter, Intel earned $1.76 billion, or 27 cents a share, on sales of $8.05 billion.

Intel grew its microprocessor units while its average selling price held flat. Chipset and motherboard shipments increased while flash memory held flat.

Intel kept its 2004 capital expenditure budget steady between $3.6 billion and $4 billion, but the chipmaker trimmed its research and development budget to $4.7 billion from $4.8 billion.

For the fourth quarter, which ends in December, Intel said its sales would be between $8.6 billion and $9.2 billion with margins of around 56 percent.

For the fourth quarter, analysts had expected sales of $9 billion and earnings of 30 cents a share.

Intel Q3 earns 30c, sales $8.47 bln (4:20 PM ET) SAN FRANCISCO (CBS.MW) -- Intel's(INTC: news, chart, profile)third-quarter net income of 30 cents a share and sales of $8.47 billion surpassed Wall Street's reduced financial expectations for earnings of 27 cents a share and sales of $8.44 billion. The chipmaker issued a fourth-quarter sales range of between $8.6 billion and $9.2 billion compared with analyst expectations for sales of $9 billion

12th Oct 04 Panmure Gordon expecta a fall to 85p

If it gets to 85p then I start looking to buy it.

Shares Mag says: Wolfon shares remain hypefilled
even after this weeks plunge and are
susceptible to further disappointments.

Friday Press Roundup
MoneyAM
A summary of today's business comment...

Investors Chronicle

WOLFSON MICROELECTRONICS (buy)


http://www.moneyam.com/action/news/showArticle?id=470457

Equity View: Buy IMI at 355.5p - Great Portland Estates at 297.25p - Wolfson Microelectronics at 100.5p - C&C Group at 17.35 - P&O at 268p (Look who's Trading)

Taking Stock with Edmond Jackson: Follow your own nose to make profits (Wolfson Electronics)

ARM Holdings added 1-3/4 pence to 87 after the UK chip designer posted stronger-than- forecast third-quarter results and repeated its revenue growth guidance for the full year.

IBM rose 3.8% as analysts gave a positive review of its Q3 performance.

In a boost for the battered chip sector, Texas Instruments posted Q3 earnings and sales which handily beat Street estimates. Some analysts noted that its outlook for Q4 sales was guarded at a decline of 6% to a rise of 2%. Others were more positive over the indications of late quarter demand at the company. Texas Instrument shares soared 8% to $22.79.

All positive stuff today and some massive buying along with high volume. Hopefully we should start to see some recovery in WLF.

read this thread got a few pointers

1. down 57% from high
2. profit growth est 50-55% from 79% [imagine the sp without est cockup]
3. fidelity the best special situation fund for years own a massive chunk
4. drop comes in 3's [i'm no chartist but that has happened]
5. good news from intel/ibm
6. pi's rushing back in
7. imho looks good !


cheers d

I'm still not sure about point 4. I hold at an average of 180+ so I have a long way to go to even out. if the saying 'profit warnings come in 3s' is true then there is one more to go !

ahzar, the market is expecting a third warning before Xmas, BUT it is already priced in. The word is that if they can give an upbeat outlook with the warning (if iit materialises) then the stock is heading north.
Right now, every bit of bad news that has come & is to come (possibly) is heavily priced in.

If this hits 80 to 85p then I'm interested.

If it gives another profit warning & drops way below 80p then I'm definitely interested.

The market will overeact to another profit warning.

Down again because

Panmure Gordon reiterates sell.

Thursday October 28, 03:00 PM
New Reference Design from Zeevo Featuring Wolfson Audio Codec Gives Manufacturers a Fast Track to CD-Quality Wireless
SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 28, 2004--

Untethered MP3 Players, Wireless Speakers and Stereo Headphones

Expected to Dominate CES This Winter

Asian and other original device manufacturers (ODMs) that desire to catch the next
wave in lifestyle entertainment products will appreciate a new reference design from Zeevo using Wolfson audio CODECs that will enable them to design and introduce wireless stereo headsets, speakers or wireless MP3 players that feature true CD-quality sound -- well in time for the winter Consumer Electronics Show (CES). With the availability of these new products, based upon a new generation of low-cost quality audio Bluetooth wireless transceiver chips from Zeevo, coupled with Wolfson's celebrated single-chip CODECs, consumers will be able to dispense with the wires that have until now tethered their stereo headphones to the MP3 players on their arms and waists, or their high-quality speakers to their entertainment centers.

"This could be one of the hottest new trends that we see at CES this year," said Dr. David Milne, CEO of Edinburgh-based Wolfson Microelectronics, a world leader in high-performance mixed-signal chips. "Wolfson is delighted to be part of one of the first solutions to offer high quality wireless audio."

A reference design is a sample electronics circuit design that shows engineers how to utilize the latest developments in microchips in their own products. Using a reference design as a base, it is possible today for a device manufacturer to incorporate a new technology into existing designs in a few weeks, and have products available to ship not long after. The designs use the ZV4301 Zeevo Bluetooth ARM7-based microcontroller chip to process and transmit stereo data via the Bluetooth wireless standard, and any of Wolfson's WM8731, WM8711, WM8955 audio CODECs to perform audio coding and decoding, digital to analog and analog to digital conversions, and filtering.

"This is a real breakthrough for device manufacturers," said Jalil Shaikh, president and CEO of Zeevo. "Wireless audio in personal entertainment products has not previously been offered, because of an inability to meet the consumer's expectations for quality. Wolfson has solved the problem on the audio CODEC side, and we have solved that on the wireless side. What we are assuring is that the consumer will have an uncompromising, CD-quality audio experience, and that wires to headsets and speakers will become a thing of the past."

According to Shaikh, the reference design provides full CD-bandwidth, up to an 87dB signal-to-noise ratio (SNR), and receiver sensitivity of -86dBm. The Wolfson CODECs provide 98dB SNR in the DACs, which provides for excellent "total audio chain" performance.

The reference design is available from Zeevo today.

About Wolfson Microelectronics

Wolfson Microelectronics plc is an award winning, fabless semiconductor company based in Edinburgh, UK. Wolfson develops and markets high performance mixed signal semiconductors for multimedia and communications applications worldwide. The company currently has sales offices in the USA, Japan, China, Taiwan and Korea.

For more information contact: Wolfson Microelectronics plc, Westfield House, 26 Westfield Road, Edinburgh, EH11 2QB, United Kingdom, Tel: +44 (0) 131 272 7000, Fax: +44 (0) 131 272 7001. Web: www.wolfsonmicro.com.

About Zeevo

Zeevo is a leading-edge semiconductor provider that designs and markets "system-on-a-chip" (SoC) lifestyle wireless products for use in consumer electronics products ranging from cellular phones to MP3 players to personal computers to loudspeakers. Zeevo's latest wave of products uniquely solve the problem of high quality audio over Bluetooth -- increasingly in demand as the wireless movement floods over in to headsets, stereo headphones, and loudspeakers. The company pioneered the concept of "Sound Design for Bluetooth(TM)," a quality, reliability and convenience benchmark for Bluetooth audio that includes high-quality audio, interference-free co-existence with 802.11 wireless, dynamic mode switching for convergence applications, and fail-soft out-of-range behavior.

Zeevo Bluetooth platforms integrate analog, digital, and radio-frequency (RF) circuitry, as well as memory and a programmable ARM7 processor, on a single-chip built using highly cost-effective, standard CMOS technology. Zeevo's chips are delivered in design- and manufacturing-friendly packages that incorporate all RF components, and are accompanied by Zeevo's advanced ZSound(TM) algorithms, CODEC interfaces, and operating software. This results in quality Bluetooth audio solutions that are distinguished by small size, low cost, low power consumption and ease of integration by OEMs and ODMs into market-leading end products.

Zeevo supports open, industry-standard development tools, and an easy-to-use application program interface (API) and development environment on its Bluetooth platforms, which enable customers to easily customize their solutions and deliver differentiated products.

Zeevo was founded September 1999 in Silicon Valley by industry veterans. Investors in the privately-held company include Sequoia Capital, Raza Venture, Focus Ventures, WK Technology Fund, Institutional Venture Partners (IVP), CDIB, Winbond, and Capital Group Companies.

Editors' Note: All trademarks and registered trademarks are those of their respective companies.

Additional background information is available at www.roeder-johnson.com.

http://uk.biz.yahoo.com/041028/183/f5hxr.html

any views on 3% lift today plenty of buys- dafrer

Monday November 1, 06:00 PM
Wolfson Launches High-End Stereo Audio ADCs for Professional and Prestige Consumer Markets

SAN DIEGO & EDINBURGH, Scotland--(BUSINESS WIRE)--Nov. 1, 2004--Mixed-signal IC specialist Wolfson Microelectronics plc today launches a new family of high-performance 24-bit stereo ADCs for high-performance recordable media devices, such as recordable
DVD Players and personal video recorders, and A/V amplifiers, as well as high-end sound cards and studio-audio processing equipment.

Utilizing advanced mixed-signal techniques in multi bit sigma-delta design, and a proprietary cascade topology, WM8780/1/5/6 maximize signal to noise ratio, up to 111dB, resulting in clean, accurate sound in compact and convenient surface mount packages. A choice of single-ended or differential analog inputs allows designers to achieve an optimal balance of audio performance, system cost and design effort. Both input-types are available in hardware and software controllable variants.

The WM8780 and WM8781 have single-ended inputs and achieve signal-to-noise ratio of 107 dB and total harmonic distortion -98dB. Designed with differential inputs, the WM8785 and WM8786 reach 111 dB SNR and a total harmonic distortion -102 dB.

Capable of 24-bit high-resolution sampling at frequencies from 8 kHz to 192 kHz, the digital output audio word length is configurable from 16- to 32-bit and delivered as a PCM output. Wolfson's proprietary low-order modulator minimizes jitter effects, and a selectable high pass filter is available to remove residual DC offsets. The devices support a TDM bus, providing designers with extra flexibility to build advanced audio processing equipment, including complex multi-channel studio equipment or surround sound systems.

The WM8780 is packaged in a very low pin-count 16-pin SOIC for optimum board space utilization and low number of interconnects. WM8781, WM8785 and WM8786 are available in small outline 20-pin SSOP packages.

Availability

The WM8780, WM8781, WM8785 and WM8786 are available now in volume quantities priced at $1.53, $1.62, $1.85 and $1.90 (U.S.) respectively in quantities of 10,000.

http://uk.biz.yahoo.com/041101/183/f5q76.html

Another assault on 110 seems imminent

Buys to sells fairly even. Volume smallish. I already hold WLF (Bought to high at the time of initial drop after resukts, but I would not buy any more for the time being. I still think there is another drop comming. If it hits 80-90 may buy. I think the graph does not show any signs of real trend change. W/s. I don't mind being wrong.

You are not the only one Fred1new. I also bought in @ 180+ but will not average down yet. Like I'm waiting...

More sells than buys. Price up. Bit odd. Unless MM collecting shares for somebody.

I bought in today for the first time.
wlf seemed well oversold and seemed like there were many sitting on the side line waiting for it to level out.
Seems a great company just finding its true level.

Or could it be prime for takeover?

great link for wlf- industry website from cfj

http://www.electronicstalk.com/news/wol/wol000.html

good luck - dafter

Wolfson Microelectronics PLC
08 November 2004


Wolfson Press Announcement of s.198 Notification

Wolfson Microelectronics plc (the 'Company')
8 November 2004

Section 198 Notification

The Company was notified on 5 November 2004 by Fidelity Investments on behalf of
FMR Corp.(''FMR'') and its direct and indirect subsidiaries (which includes
Fidelity Management & Research Company ('FMRCO') and Fidelity Management Trust
Company ('FMTC')) and on behalf of Fidelity International Limited ('FIL') and
its direct and indirect subsidiaries (which includes Fidelity Investment
Services Ltd ('FISL') and Fidelity Pension Management ('FPM')), pursuant to
Section 198 Companies Act 1985 that its interest in the Company has increased to 15,260,370 ordinary shares in the Company ('Shares'), representing 14.11% of the issued share capital of the Company

BSU% 25/66/9% and yet the price doesn't go south. V.ODD
Are the MMS accumulating for another Trust etc.?

i hope so.....

Buys and sells appear incorrect. Many of the reported sells would seem to be buys. Still very small volumes for price movement.

Anybody buying out there? If so why? I still hold some from earlier buy, but would expect a further nose dive.

VIEWS. It has been a bad day.

A week of rises, has this been over sold and now startsthe long road to recovery??

The price says yes but the volumes say no to me. Watching and Waiting with TLC.

No one seems to mention the court case they are involved in?

Trewinney You interest me. Please give details of court case involvement.

That is if you have any support for you inference.

Fred I new,
They have ongoing litigation with Cirrus Logic (USA co)over patent rights,with a decision expected this year.They have already spent a considerable amount of money defending this case,

I've just bought at between 1 and 1.05.....think they will go north, fidelity have just upped their stake and the shares wont fall below 1 - it's the sentiment of a 3 number vs 2 number figure.imho....

.found this today..
Wolfson says US court ruling on Cirrus Logic patent case to have no effect
AFX


LONDON (AFX) - Wolfson Microelectronics PLC, the supplier of high performance mixed signal semiconductors, said a US court has ordered a limited exclusion order against the company in the Cirrus Logic Inc patent case, but said this will have no effect on its business.

The company, which is maintaining its current full year revenue guidance, said the limited exclusion order for three of its audio digital-to-analogue converter products bars importation of these products to the US, covers standalone products and does not extend to end products that incorporate the Wolfson devices.

The company said the findings will have no effect on its business as two of the three affected products were made obsolete in early 2004 due to lack of market demand and the third product was modified to remove the disputed feature.

The court also ruled that Cirrus' US Patent No. 6, 492 and 928 is unenforceable and as such, no restrictions were imposed.

The initial determination is subject to review by the full Commission of the US International Trade commission, which is expected to issue its final decision on Feb 14, 2005, the statement added.

newsdesk@afxnews.com

ra

Taken gain of just under 20% on purchase of 11th October - quite happy for the next man to have a bit...

I think you are wise to take your profit. I have a long term hold in this company, but expect another drop in price. The price is up but no volume and is being pushed up by MMs wind at the moment IMO.

Every time I think that this looks like recovering, it defies me & goes down again.

Panmure Gordon expect a fall to 85p.

If it does go to 85p then I'll take the risk.

The volumes look a little bigger but I would think it is due to few punters getting out. I think it will drop a little further 80-85 may try an buy a few more. I think it is a long term good bet. It is beginning to look like BPRG which is again a long term winner. But what a ride.

back to new recovery high manana, you happy people, dafter

Thursday November 18, 06:45 AM

Wolfson Claims Victory in Cirrus Patent Battle ComputerWire Staff

Integrated circuit designer Wolfson Microelectronics Plc (LSE: WLF.L - news) claims to have won a patent infringement suit brought by rival Cirrus Logic Inc (NASDAQ: CRUS - news) .

It said an initial determination by an Administrative Law Judge of the US International Trade Commission found that one Cirrus patent was unenforceable because prior art was not disclosed to the US Patent and Trademark Office.

However the determination also found that three Wolfson audio digital-to-analog converters infringed another Cirrus patent and recommended a limited exclusion order against their importation into the US. Wolfson said this will have no effect on its business because two of the products were made obsolete in early 2004 and the third product was modified to remove the disputed feature.

In October 2003, Edinburgh, Scotland-based Wolfson had to delay its IPO to rewrite its prospectus after Cirrus filed the patent infringement claim.

its all good news now.
WLF are very, very cheap.

mmm.....they are bound to go up....only because i just sold my holding (at the wrong time of day..again - doh) Confusing signals tho.....2 brokers saying 85p and 100p...Daily Mail saying buy. I think the cirrus case should be viewed as a -ve avoided rather than a +ve gained. Also take into account a predicted lack of big ticket item demand over x.mas etc....apart from that it should be a blue sky affair - i think the attraction of Wolfson is quality of products....

slightly disagree, the Cirrus should be seen as a positive, after all you could say that this is what dragged the price down from 300p or so....
I doubt of the brokers who have said sell have given much thought to that stance, simple reason being that WLF have now said as well that they will meet broker expectations...
This is a company after all, growing at 55% p.a. & are profitable. I would love to know what the forward pe is & compare this to others in the sector.

a double possitive cirrus & trading to the new forcast = the best possible news
a no brainer imho- the triple possitive 20% gain in last couple of weeks.
back to 180 by spring or sooner depending on the rumour in mail of 2 contracts
in the youth market,dafter

SHARE OF THE WEEK

IAIN DEY


WOLFSON Microelectronics removed one of the biggest shadows hanging over its business last week when it emerged relatively unscathed from a patent infringement suit brought against it by rival Cirrus.

Industry insiders also claim the Edinburgh-based group should be in a position to announce two multimillion-pound contracts wins within weeks.

Wolfson is supplying two of the worlds biggest consumer electronics firms with components for their latest products - which are both being launched in time for the Christmas sales period. But further details are being kept under wraps for now due to the secrecy demanded by the clients.

It is unclear whether either contract involves one of Wolfsons existing clients or a new customer. But most of the worlds biggest electronics firms are already on its books - including Microsoft, Sony and Apple (which uses Wolfsons sound chips in its iPod music player).

The shares may have halved in value in the year since its flotation, but there are signs the group is beginning to get back on the right track

Monday November 22, 02:00 PM
Wolfson Introduces New Mono CODEC for VoIP and Digital Telephones
SAN DIEGO & EDINBURGH, Scotland--(BUSINESS WIRE)--Nov. 22, 2004--Wolfson Microelectronics plc today introduced the WM8510 mono CODEC, its first product specifically designed for Voice over Internet Protocol (VoIP) devices and digital telephones. The Advertisement

WM8510 delivers high-quality audio performance at low cost. A low power, highly integrated device, the WM8510 significantly reduces design costs and external component requirements.

According to Juniper Research, VoIP will account for over 12% of all telephony revenues by 2009 as VoIP evolves from being a replacement service for the public switch telephone network (PSTN) to a new converged service for the home and business user.

"The WM8510 delivers the performance and features that the fast-growing VoIP market demands," said John Crawford, product manager, Wolfson Microelectronics. "It is designed specifically for digital telephone applications such as desktop phones, conference speakerphones and mobile telephone hands-free kits."

The WM8510 includes a driver for a speaker or headset, two separate microphone inputs (e.g. handset and speakerphone) and two dedicated analog audio outputs with volume control. Advanced sigma delta converters are used along with digital decimation and interpolation filters to give high quality audio at sample rates from 8 to 48ks/s. Additional digital filtering options are available in the ADC path, as is an advanced automatic level control (ALC) function with noise gate. An on-chip PLL is provided to generate the required master clock from an external reference clock. The PLL clock can also be output if required elsewhere in the system.

The WM8510 has a standard audio interface supporting transmission of audio data to and from the chip. The interface supports a number of audio data formats including (mu)-law and (alpha)-law, PCM, I2S, and DSP Mode, and can operate in master or slave modes.

The WM8510 operates at supply voltages from 2.5 to 3.6V, although the digital core can operate at voltages down to 1.62V to save power. The speaker and mono outputs use a separate supply of up to 5V, which enables increased output power if required. Different sections of the chip can also be powered down under software control by way of the selectable two or three wire control interface.

Intel raises sales forecast

By Jon Ann Steinmetz

Mercury News Assistant Business Editor


Register here to get this column by email.

Oooh, Intel just this minute gave its mid-quarter update, and it's pretty darn optimistic. Bloomberg News says the world's largest computer-chip maker said fourth-quarter sales will exceed its previous forecasts as demand grows for laptop and desktop personal computers.

Sales will be $9.3 billion to $9.5 billion, the Santa Clara company said in a statement. In October, Intel forecast sales of $8.6 billion to $9.2 billion. Gross margin, or the percentage of sales remaining after deducting production costs, will be 55 percent to 57 percent.

The raised forecast was ``driven by strong worldwide demand'' for the company's processors, Intel said in the statement.

The company's having a conference call later today to talk about it; check tomorrow's paper (or Web site, of course) for the full scoop.

WLF been looking strong in the past few days.

wolfson not only looking strong but could reach 250p by spring given new contracts and 30%to 40%estimated eps growth in 2005

SUNDAY TIMES:
Inside the City:
* Hitch a ride on the back of the iPod (Wolfson Electronics, Pixology) - Rentokil Initial: investment sentiment will be driven by the calibre of the incoming chief executive

Looking good already. is this a start to a big recovery?

LONDON (AFX) - Shares in Wolfson Microelectronics climbed 8 pence to 128 as
The Sunday Times pointed out that the group is being baled out by the iPod.
Apple is responsible for about 10 pct of Wolfson's business, and iPod sales more
than doubled in the last quarter alone, said the newspaper.
With Sony about to launch its portable PlayStation, some are wondering
whether Wolfson has secured another important new customer for its chips, The
Sunday Times added.

Just joined you guys, in the fight back.

cheers GF.

Monday December 6, 02:01 PM
Wolfson Opens Logistics Hub in Malaysia
SAN DIEGO & EDINBURGH, Scotland--(BUSINESS WIRE)--Dec. 6, 2004--Wolfson Microelectronics plc today announced the opening of a new logistics center in Ipoh, Malaysia, to allow faster and more flexible shipment to its customers in the region, particularly ADVERTISEMENT


China and Japan.

According to Wolfson, the new hub will improve the efficiency of its logistics operations and enable it to reduce the cost of work in progress.

"The new logistics hub in Ipoh has been designed to help us cope with the increased demand for our devices in Asia, and represents a logical extension to our already very significant operations there," said John Urwin, operations director of Wolfson Microelectronics. "We already manufacture most of our wafers in the Asia Pacific region, and use two contractors based in Ipoh for assembly and test. The addition of a hub gives us a complete operational capability within Asia."

Wolfson's customer base of consumer electronic manufacturers is located predominantly in Asia, particularly in China, Taiwan, Japan and Korea. Wolfson continues to expand its customer base in the region, most notably in Japan and where it has recently won significant design-ins for major new digital consumer products that are to be launched under global brand names next year. The company now has offices in Taipei, Shenzhen, Tokyo and Seoul.

About Wolfson Microelectronics

Wolfson Microelectronics plc is an award winning, fabless semiconductor company based in Edinburgh, UK. Wolfson develops and markets high performance mixed signal semiconductors for multimedia and communications applications worldwide. The company currently has sales offices in the USA, Japan, China, Taiwan and Korea. For further information please contact: sales@wolfsonmicro.com.

For more information about Wolfson Microelectronics products and services in the US, call: (858) 676 5090. For additional information, visit: http://www.wolfsonmicro.com/

On the up from yesterday. Some nice buying going on.

cheers GF.

Moving nicely higher and looks like we might get rid of the traders in this one today.

cheers GF.

Ended the day positively.

cheers GF.

WOLFSON DOWNGRADED TO 'NEUTRAL' FROM 'BUY' BY MERRILL LYNCH

Ithink the neutral will turn positive very quickly again when we get first sight of a new contract win. The whole markets down today, and it reminds me really of last xmas when we had a poor run up and then after xmas the markets went ballistic from the 6th onwards for about a month.

cheers GF.

WOLFSON OPENS LOGISTICS HUB IN MALAYSIA

Monday, December 6, 2004


Edinburgh, UK, 6 December 2004 Wolfson Microelectronics plc (LSE:WLF.L) has today announced the opening of a new logistics centre in Ipoh, Malaysia, to allow faster and more flexible shipment to its customers in the region, particularly China and Japan.

According to Wolfson, the new hub will improve the efficiency of its logistics operations and enable it to reduce the cost of work in progress.

Commenting, John Urwin, Operations Director of Wolfson Microelectronics, said, The new logistics hub in Ipoh has been designed to help us cope with the increased demand for our devices in Asia, and represents a logical extension to our already very significant operations there. We already manufacture most of our wafers in the Asia Pacific region, and use two contractors based in Ipoh for assembly and test. The addition of a hub gives us a complete operational capability within Asia.

Wolfsons customer base of consumer electronic manufacturers is located predominantly in Asia, particularly in China, Taiwan, Japan and Korea. Wolfson continues to expand its customer base in the region, most notably in Japan and where it has recently won significant design-ins for major new digital consumer products that are to be launched under global brand names next year. The company now has offices in Taipei, Shenzhen, Tokyo and Seoul.

About Wolfson Microelectronics
Wolfson Microelectronics plc (LSE: WLF.L) is an award winning, fabless semiconductor company based in Edinburgh, UK. Wolfson develops and markets high performance mixed signal semiconductors for multimedia and communications applications worldwide. The company currently has sales offices in the USA, Japan, China, Taiwan and Korea. For further information please contact: sales@wolfsonmicro.com

For more information contact:
Wolfson Microelectronics plc, Westfield House, 26 Westfield Road, Edinburgh, EH11 2QB, United Kingdom, Tel: +44 (0) 131 272 7000, Fax: +44 (0) 131 272 7001. Web: www.wolfsonmicro.com

http://uk.biz.yahoo.com/041206/183/f7zgt.html

Is this a problem for WLF??

Disney to launch titles on Blu-ray technology
By Michiyo Nakamoto in Tokyo
Published: December 9 2004 15:29 | Last updated: December 9 2004 15:29

The battle to set the standard for next-generation digital recording media took another twist on Thursday with the announcement that Walt Disney would launch titles on the Blu-ray Disc format promoted by Sony and Matsushita.


Disney's move divides the allegiance of Hollywood studios in half, with Disney, Sony Pictures Entertainment, MGM and possibly 20th Century Fox supporting the Blu-ray format, while Paramount, Universal, Warner Brothers and New Line Cinema have committed to a rival format, known as HD-DVD.

The split has reinforced concerns that consumers will be saddled with two competing formats battling for dominance. Disney, like most other Hollywood studios, said its format preference was non-exclusive, which raises the prospect of further intense lobbying by both camps.

Last month, the HD-DVD group, which includes Toshiba, Hitachi and Sanyo, appeared to have taken the lead over Blu-ray, when its four Hollywood supporters announced their backing. Together those four represent about 45 per cent of DVD titles sold in the US, according to DVD Exclusive Research. The participation of Disney, which owns 17 per cent of DVD titles sold in the US, will boost the Blu-ray camp's share to 36 per cent Sony Pictures and MGM together hold 19 per cent.

Although 20th Century Fox has joined the Blu-ray Disc Association, it has not committed to the format. If it does, that would give the Sony camp a further 11 per cent of the market. Disney's support for Blu-ray is an important victory for Sony, which has invested heavily in the technology and explained its recent decision to acquire MGM as in part motivated by the need to win support for the format.

Blu-ray already has the backing of 90 consumer electronics and PC manufacturers globally.

Disney said on Thursday it would launch content in the Blu-ray format when the hardware launches in North America and Japan. The near-even split among Hollywood studios is likely to spur further lobbying of the studios by both camps.

The next-generation DVDs, which are capable of recording whole movies inhigh definition, are expected to be adopted widely at about 2006. HD-DVD will be cheaper to produce because the format is similar to current DVDs, while Blu-ray discs have the advantage of being more suited to network applications, according to Sony

Expecting these to make solid gains this week.

cheers GF.

Nice start to the week and in the blue.

cheers GF.

Moving on up higher.

cheers GF.

plenty more in this GF.

Yup I think so aswell azhar, cheers GF.

From Zak Mir TA specialist.

Wolfson (WLF.L):
I have a few golden rules as far as shares are concerned. One of them is never follow a newspaper tip and another is never to buy on the day after a tip. Luckily for bulls of Wolfson I regard such rules as made to be broken and the backdrop for the stock following the October profits warning makes it very appealing indeed. The main hook line is that 10% of the groups earnings come from iPod maker Apple and this is only just being factored into the share price. Those who can afford a stop loss below the 50 day moving average at 119p on an end of day close basis could be exposed to quite a sharp June resistance line breakout towards an October resistance target of as high as 180p. This would easily fill the gap down on the warning of that month.




cheers GF.

In the blue again azhar and fellow wolfers, would be nice if Zaks TA does come about and we get a move up to 180p.

cheers GF.

Some news here to really get the heart pumping....................

SUNEXCLUSIVE 14/12/04

Paystation



Watch the Birdie ... portable changing handsfor 500




A BRITISH company is one of the likely winners from SONYS new PlayStation Portable.
Sun City can reveal that a chip designed by WOLFSON MICROELECTRONICS is in every single device.

And the Edinburgh-based company earns a $1 royalty payment for each Playstation sold.

The gizmos went on sale in Tokyo on Sunday and thousands of fans queued through the night to get their hands on one.

The Playstation Portable will go on sale in Europe in Spring.

But it is already changing hands on internet auction site EBAY for 500, though the retail price in Japan is around 106.

Sony expects to sell half a million Playstation Portables in Japanese stores alone before the end of 2004.



Wait for it ... queues on launch day



As well as games, the device can play music and video files, potentially making it a rival to APPLES iPod, which also includes a Wolfson chip.

Wolfson, led by chief executive David Milne, yesterday refused to confirm its chips are being used by Sony.

But a stock market source said: This is real proof they can make a breakthrough in the mobile handset market something investors previously doubted. The shares rose 2.5p to 128

cheers Gf.

Flying nearlly up 11% now.

cheers GF.

Heres proof its been confirmed it is a WLF chip.



Its the inside of the new playstation handheld. The chip on the bottom-right that has the letters "WM" is wolfson's chip.

cheers GF.

There you are WM on the chip top.

cheers GF.

Moving ahead nicely again.

cheers Gf.

GF

How far up do you see it going?

MS

This could recover a lot of the lost ground of earlier in the year.

MS

MS - yes it could, but on the other hand if China is flattening out still, and gains wil evaporate as they have twice before.

For the long term, it is a winner but patience is needed.



After all, the whole world eats chips!

Especially Hary Ramsdens, superb. MS, keep watching as ever no target given.

cheers GF.

Looking forward to more gains tomorrow.

cheers GF.

Another storming day.

cheers GF.

Another gem GF well done.

MS

Cheers Mickey, hoping we get some coverage in tip sheets etc. See Hamworthy is doing well today aswell. NICE.

cheers GF.

It just gets better, hows this for good news...........................

scotland on sunday

Sun 19 Dec 2004



printer friendly email article
Wolfson land deal to supply chips for 02 mobile phone

IAIN DEY
CITY EDITOR


WOLFSON Microelectronics looks to be due another sales boost after it emerged that one of its sound chips is powering O2s new top-selling X3 mobile phone.

Although the Edinburgh-based firm was unable to comment, industry sources said BenQ, the Taiwanese electronics giant manufacturing the phone, has just placed another large order for Wolfson chips.

The deal follows the revelation that Wolfsons technology is being used in Sonys new portable Playstation - a contract that analysts believe could be worth as much as US$15m (8m) to Wolfson in its 2005 financial year.

Dells new handheld computer and Treos latest Palm gadget are also believed to be carrying Wolfson chips.

News of the deals follows a torrid spell for the company since it floated on the stock exchange 15 months ago.

One industry source said: "Theres been a bit of doubt in the City about Wolfsons ability to crack into the market for portable devices, which is one of the next big growth areas. But here are four big portable products from big companies that have all been launched for Christmas with Wolfson chips in them."

The source added: "All the companies are bound by confidentiality clauses on these contracts, but now the products are out, you can see that there are Wolfson chips in them."

Wolfson is supplying its chips for the O2 phone through a sub-contracting deal with Cambridge-based Audiomosaic, which is supplying BenQ in turn. The phone, which incorporates an MP3 player and a video camera, is expected to be one of the big sellers in the mobile market over the next few months.

Wolfson is expected to make US$1 (51p) for every portable Playstation sold. The device was launched in Japan a week ago and will go on sale in Europe in the spring. It is being sold for about 100 in Japan, but demand is so strong that it is changing hands for five times that value on internet auction site eBay.

Although Wolfson cannot comment on the deal, analysts at Cazenove have seen a picture of the circuit board in the device, which shows the Wolfson chip in place.

Sony expects to ship 3.5 million portable Playstations before the end of Wolfsons financial year in March, and 12 million to 15 million units in each of 2005 and 2006.

Cazenoves Francois Meunier said: "We believe this will help rebuild investor confidence in the long-term prospects of the company."


cheers GF.

Why the drop today profit taking maybe? I feel sure that this will return to it's IPO price.

MS

This was the year the iPod finally took off. The original version of the digital music player had been around since October 2001, and it had repeatedly won applause for its stylish design and ease of use. But until this year, the media acclaim had run far ahead of sales.

With the iPods status as a fashion icon assured, Jobs and Apple have continued to drive sales with constant promotion and fresh innovation. This has led to the 1,000-song mini iPod even sleeker and more fashionable than its grown-up sibling, and just the right size for a girls handbag. More recently there has been the iPod photo, which besides music can store and display 25,000 pictures.

Sales have accelerated through the year, reaching 2m units and $537m in the third quarter. With many American and British teenagers putting an iPod at the top of their Christmas wish-lists, analysts are forecasting that sales in the Christmas quarter could double again to 4m units.

This growth is supported by, and is encouraging, a revolution in the music industry. Jobs was in London in June for the European launch of Apples iTunes online store, which has almost single-handedly created a market for the legal downloading of music over the internet.

Despite numerous attempts to replicate iTunes simple pricing, Apple claims it retains a 70% share of the market in legal downloads. Ten days ago the company announced that more than 200m songs had now been bought and downloaded from iTunes.

Combined, iPod and iTunes have transformed the profile of Apples business. After several years of flat sales, Apples turnover has doubled in 18 months from about $6 billion to about $12 billion


http://business.timesonline.co.uk/article/0,,8209-1415496,00.html

From the Sunday Herald:

Former glamour stock Wolfson Microelectronics will demonstrate that it is still firmly on the growth track in 2005 even if some of the numbers do not match up to the stock markets early inflated expectations.

While its customers in the DVD market may have experienced a disappointing Christmas, brokers still expect a modest profits increase to around 16m for 2004 while Evolution Securities reckon that the group could make as much as 31m in the current period.

Wolfson shares have shown signs of recovery at the current level of around 14lp down from a peak of 322p although some remain wary of its exposure to China and the Far East.

And more good news centered really around Apple and its new products..........

SAN FRANCISCO (AFX) -- Shares of Intel Corp. gained more than 2.7 percent Wednesday as analysts applauded higher-than-expected fourth-quarter earnings and an upbeat outlook for 2005.

Intel revenue rose 9.8 percent compared with the fourth quarter a year ago on better-than-expected sales of its computer chips.

Shares of Santa Clara, Calif.-based Intel closed trading up 62 cents at $23.16 Wednesday. More than 140 million shares traded hands compared to the company's normal daily volume of 68.8 million.

Piper Jaffray on Wednesday upgraded Intel to 'outperform' from 'market perform,' saying its improved outlook on the stock is driven primarily by 'a strong gross margin ramp during 2005 and a higher absolute level during 2006,' even though the company might lose processor share in 2005.

The stock was also upgraded to a 'strong buy' by JMP Securities. Analyst Krishna Shankar described the quarter's results as a 'blow out' and said Intel 'is finally entering the sweet spot of its margin expansion and earnings acceleration phase as the company aggressively ramps new products.'

Wells Fargo Securities kept its 'sell' rating on the stock, which it believes is overvalued above $19 per share. In a note, analyst Tad LaFountain said the extent of the company's overvaluation has been 'substantially reduced' thanks to Intel's doubling of its cash dividend to 8 cents per share for 2005.

With results better than expected, Merrill Lynch raised is 2005 earnings target for Intel 'significantly' to $1.21 per share from $1.06 per share, but also questioned the chip company's estimates for the second half of the year.

'Intel deserves credit for its ability to maintain margins at the level it has. In the end, though, we're still looking at a company that is stretching in order to achieve 4 percent earnings growth this year,' Merrill's Wednesday note to investors said.

The stock remained a favorite for Goldman Sachs, which said Intel was currently 'selling below fair value.' Goldman Wednesday raised its earnings estimate for 2005 to $1.25 to $1.14 while cautioning that the bellwether stock's earnings might give only a temporary lift to the sector.

'We expect the company's positive outlook on 2005 demand may improve near-term sentiment in the sector. However, we continue to believe that overall semiconductor growth in 2005 will be in the low single digits, and that Q1 guidance will be seasonal or worse for many companies,' according to a research note.

Net income at Intel for the period ended Dec. 25 was $2.12 billion, down 2 percent from $2.17 billion for the same period a year ago. Earnings per share were 33 cents, unchanged from the fourth quarter of 2003, as Intel reduced the number of its shares outstanding through a stock buyback program.

Revenue rose to $9.6 billion from $8.7 billion a year earlier. Analysts were expecting earnings of 31 cents a share on revenue of $9.4 billion, according to consensus estimates from Thomson First Call.

Intel's semiconductors are used in more than 80 percent of the world's PCs and laptops, and the company benefited as consumers bought more computers during the quarter. The chipmaker also cut its inventory more than expected as it worked off a product glut that hurt its results in prior quarters.

Based on the revenue number, 'PC demand was a little bit stronger than people thought,' Jeremy Lopez, an analyst with the research firm Morningstar, said Tuesday.

Intel issued a sales forecast for the first quarter that was in line with analysts' estimates, cheering investors.

For the first quarter of 2005, Intel forecast sales would be in the range of $8.8 billion and $9.4 billion -- in line with analysts' consensus target of $8.9 billion. Gross margins for the quarter are expected to be about 55 percent.

Leaner inventory, narrower margins

The company cut inventory levels by more than 18 percent to $2.6 billion, compared with $3.2 billion at the end of the previous quarter. The $560 million reduction was significantly more than the $350 million to $400 million expected by analysts.

'The most important thing for them is that they cut their inventory levels,' said RBC Capital Markets analyst Apjit Walia, who has a 'sector perform' rating on Intel. 'And it was a much deeper than the expected cut.'

In fact, Intel executives said during the conference call that inventory levels, which had surged to $3.2 billion in mid-2004, had gotten a little too low during the quarter.

'My personal opinion is that we tried to slam the door hard on inventory and maybe went a little hard,' Intel CFO Andy Bryant said during the call. 'In this business not being able to fill an order is a much bigger deal than to have inventory sit around an extra few days.'

Intel's gross margin, or the percentage of revenue left after deducting product costs, fell sharply from a year ago -- to 56 percent of sales from 63.6 percent, as it lowered prices on some products to fight off a challenge from smaller rival Advanced Micro Devices. .

AMD shares plunged 26 percent Tuesday after it warned that fourth-quarter sales were below forecasts.

ThinkEquity analyst Eric Ross, who has a 'buy' rating on Intel, said gross margins have continued to be a concern at the company. But he said that is offset by the company's growing revenue base in the laptop market and its continued strength in the server market, despite fierce competition from AMD.

'Gross margins are an issue. But with everything else going on, I feel pretty good about where the company is going,' Ross said.

Mobile, desktop chips drive growth

The company said revenue from its core microprocessor business was $6.8 billion, up nearly 5 percent from last year's fourth quarter. Intel's communication business -- which includes its popular Centrino line for laptops -- saw revenue of $1.4 billion, up 32 percent from a year ago.

'We saw strong Centrino demand from consumers in the holiday season in established markets in the U.S., where notebook sales reached one half of retail PC unit sales,' Intel President Paul Otellini said on a conference call with analysts.

Flash memory sales totaled $643 million, up 61 percent from last year. But the company said this segment remained flat with the third quarter while other units posted sequential growth.

The company ended the quarter with about $14.1 billion in cash and short-term investments, a gain of more than 3 percent over the $13.6 billion reported at the end of the previous period. Intel said it used about $2 billion in cash on share buybacks during the fourth quarter.

This story was supplied by CBSMarketWatch. For further information see www.cbsmarketwatch.com.

cheers GF.

good one Gold... WLF is preparing for the next leg up.

When OBV is not an OBV.

When you look at the ratio of buys to sells %`s for WLF you will see that the big boys are buying. As on many 90% plus buy days the price is down by 1p or so, this makes your traditonal OBV indicator grossly inaccurate because the way it is constructed.

I have contacted moneyAM and asked them to design a TRUE OBV indicator based on their computerised interpretation of buy/sell action irrespective of end of day prices.

Any comments on this?

Friday, January 21, 2005
(The Nikkei Business Daily Friday edition)

Sony To Triple Monthly PSP Output To 3mn On Surging Demand

TOKYO (Nikkei)--Sony Computer Entertainment Inc. plans to increase production of its PlayStation Portable video-game console to 3 million units a month by year-end, Ken Kutaragi, president of SCE, said in Tokyo Thursday.

Since the Dec. 12 introduction in Japan, the PSP supply has lagged behind the strong demand, and the release of the console in the U.S. and Europe is scheduled for this March.

At a press conference held at the Foreign Correspondents' Club of Japan, Kutaragi, known as the father of the PlayStation, said that SCE has shipped 800,000 units of the PSP in Japan but that the company is still unable to catch up with swelling orders.

By the Christmas shopping season this year, when demand for the PSPs is expected to peak, "SCE will be prepared for monthly production of 3 million units," Kutaragi said.

Current production is estimated at slightly less than 1 million a month, which is expected be increased to more than 1 million by spring.

"We also wish to release more software products for the PSP as early as possible," Kutaragi said.

Moreover, taking advantage of PSP's Internet connectivity, console users are able to utilize the machine as a telecommunications terminal, Kutaragi said, suggesting SCE's intention to stress the machine's versatility as a multifunctional digital entertainment platform.

(The Nikkei Business Daily Friday edition)

http://www.nni.nikkei.co.jp/AC/TNKS/Nni20050121D21HH900.htm

FT market report:

Wolfson Microelectronics, the electronic components maker, climbed 12.9 per cent to 158p after Sony said it would increase production of its Portable PlayStation to 2m units in 2005. PlayStation contains Wolfson-designed components. Cazenove reiterated its outperform rating and said Wolfsons valuation was low compared with its US peers.

PSP sales hit 800,000 as Sony pledges higher production
Rob Fahey 10:37 21/01/2005
Output to reach 1 million in April, with three million long-term target

Shipments of the PlayStation Portable console have reached 800,000 in Japan since the system launched last month, and Sony has now pledged to increase output by April in order to accommodate overseas launches.

The new shipment figure was announced by Sony Computer Entertainment boss Ken Kutaragi at a press conference in Tokyo, where he also reaffirmed the company's commitment to launching the PSP in North America and Europe by the end of March.

Monthly production of the PSP is set to increase by 100,000 units to a million units a month in April, which will help to meet the demand of the overseas launches, according to Kutaragi.

Production levels will continue to ramp up throughout the year, with two million units a month being targeted by Summer, and a final target of three million units per month thought to be the goal for next Christmas.

Addressing the low shipment numbers of the PSP to date, Kutaragi confessed that the sales figures are disappointing, but pointed out that this is down to lack of supply rather than lack of demand.

"I must admit (sales) are not big enough yet," he commented. "But demand is so strong that we already do not have enough supply... [800,000 units] is not a small volume, but it's not good enough to satisfy the market either."

Kutaragi also confirmed that Sony is hoping to add mobile phone technology and communications functions to the PSP "in the not too distant future," and said that a web browser for the device is on the way - but he downplayed rumours of a word processor and spreadsheet module, saying that these programs would be difficult to operate on a handheld console.

LONDON (AFX) - UK chip designer ARM Holdings PLC said it expects dollar
revenues to grow by at least 20 pct in 2005 after it unveiled robust results in
the fourth quarter of 2004.
It ended 2004 with a 30 pct rise in order backlog, proof that the group's
stand-alone business is in "robust" shape, said chief executive Warren East.
"Against a likely flatter trading environment in our industry, we expect
dollar revenues in the underlying businesses to grow by at least 20 pct in
2005," he said.
East gave the comment after the group reported a profit before tax and other
one-off and acquisition-related charges of 13.5 mln stg in the three months to
December, up from 8.9 mln last time and in line with analysts' forecast.
Revenues grew 22 pct to 41.5 mln stg from 34 mln previously.
ARM is paying a final dividend of 0.42 pence, taking the total for the year
to 0.7 pence, up 17 pct.
mbe/ec

Wolfson Microelectronics PLC
15 February 2005

Wolfson Microelectronics plc

Termination of the ITC investigation

Further to the announcement made on 16 November 2004, Wolfson Microelectronics
plc ('Wolfson or 'the Company'), a leading supplier of high performance mixed
signal semiconductors, announces that the U.S. International Trade Commission
(ITC) has terminated its investigation regarding the two patent infringement
allegations made by Cirrus Logic, Inc. (Cirrus).

In its Final Determination, the ITC confirmed the Initial Determination made in
November 2004 by the Administrative Law Judge.

Cirrus' US Patent No 6,492, 928 (the '928 patent) is unenforceable
because the inventors intentionally withheld highly material prior art from
the U.S. Patent and Trademark Office. There will therefore be no restriction
on Wolfson or its customers from the sale into the U.S. of the Wolfson
products that were alleged to have infringed.


A limited exclusion order has been issued relating to Wolfson audio
digital-to-analogue converter products that infringe Cirrus' US Patent No
6,011,501 (the '501 patent) which are shipped directly into the U.S. The
order does not extend to any third party product that incorporates any
Wolfson product.


As we stated in our statement in November 2004, the limited exclusion
order will have no effect on Wolfson's business as two of the three affected
products were made obsolete in early 2004 due to a lack of market demand.
The third product was modified to remove the disputed feature.

The proceedings in the US District Court of Southern California in San Diego are
ongoing and the Company continues vigorously to defend these.

David Milne, CEO of Wolfson, said: 'The ITC investigation is now over and the
Commission agreed with Wolfson's position that the '928 patent is unenforceable.
Since the Company no longer markets any products affected by the '501 patent
allegations, the decision has no material effect on our business. We continue to
defend the District Court proceedings.'

Enquiries:

Wolfson Microelectronics plc 0131 272 7000
David Milne, CEO; George Elliott, CFO

Corfin Communications 020 7645 2990
Harry Chathli, Neil Thapar




This information is provided by RNS
The company news service from the London Stock Exchange

DO WE SEE ANY ACTIVITY BEFORE TUESDAYS FINALS,LETS HOPE ITS POSITIVE NEWS.

Article in todays Express says Wlf will beat analysts expectations by increasing their profits by more than 28% to 8.4 million for the fists 12 months since it's float and surging demand for digital portable devices has offset the slowdown in DVD's....

New chip from wolfson for smartphones.

http://www.scottish-enterprise.com/sedotcom_home/stn/scottishtechnology/scottishtechnologynews/scottishtechnologynews-roundup.htm#wolfson_feb05

The Independant today has 8 million as the figure with a great outlook.

"Wolfson Microelectronics has disappointed the City in the past 12 months but its annual results will not: word has it the figures from the semiconductor group are likely to come in at the top end of expectations. Wolfson's share price performance over the past three months supports this theory. Its stock is up by about 40 per cent since December. Investors can expect a 28 per cent rise in pre-tax profits to $16m (8m) for 2004."

http://news.independent.co.uk/business/analysis_and_features/story.jsp?story=613172

OVERVIEW

Wolfson is pleased to report another year of strong growth in revenues and
profits in 2004, the first full 12-month period of trading since the Company's
flotation on the London Stock Exchange. This has been achieved against
challenging market conditions in some areas of the Company's business, notably
sales to DVD manufacturers in China.

For the year, revenues increased 58% to $119.3m (2003: $75.7m) and pre-tax
profits increased by 34% to $16.8m (2003: $12.5m). This is also the first time
Wolfson's annual revenues have exceeded the $100m revenue mark consolidating our
position as a leading supplier of high quality, mixed signal semiconductors for
many of the world's consumer electronics brands.

Gross margins for the year improved from 46.8% in 2003 to 49.3% in 2004
reflecting a change in product mix and better manufacturing yields

Wolfson surges on MP3 sales

UK semiconductor group Wolfson Microelectronics reported stronger-than-expected full-year results after soaring demand for MP3 players offset some weakness in the DVD player market.

Wolfson, whose semiconductors are used in a range of gadgets including Apple's iPod and Sony's portable PlayStation, said revenues for 2004 rose 58% to $119.3m with pre-tax profits up 34% to $16.8m.

The full-year performance topped the consensus forecast, which called for earnings of $16m on turnover of $115m.

Wolfson said the 2004 results were underpinned by strong demand for its chips from MP3 player makers like Apple, with sales to manufacturers of games consoles also buoyant in the the second half of the year.

This offset a slowdown in sales to DVD player makers, who were struggling against 'challenging market conditions', particularly in China. Late last year, Wolfson warned that stockpiling of unsold DVD players in China meant the normal pre-Christmas surge in surge in DVD chip sales simply did not materialise.

'Despite the disappointing downturn in sales in the Chinese DVD sector in the second half of 2004 ... the company has entered 2005 with the widest product range and design wins in its history, which we believe provides a solid platform to deliver further growth during 2005,' said CEO, David Milne, in a statement to the stock exchange.

Milne went on to say that current trading was 'encouraging', and that Wolfson was 'confident' of delivering year-on-year growth in sales for both the first half and the full year. Wolfson had previously forecast revenue growth of 20% for 2005.

Looking further ahead, Wolfson said the growing popularity of multi-media and third-generation phones would spur demand for its wireless semiconductors.

'While the market for multimedia phones is still relatively small, and growth in this market was disappointing last year, the introduction of 3G networks is expected to produce substantial growth over the next few years,' said the company.

Gross margins for the year improved from 46.8% in 2003 to 49.3% in 2004, reflecting healthier manufacturing yields and a rising sales of higher-margin chips.

UK smallcap opening - Wolfson Micro up on forecast-breaking FY numbers

LONDON (AFX) - Buyers came for Wolfson Microelectronics, 9-3/4 pence better at 170, after the UK semiconductor group released forecast-breaking full-year numbers.

The news prompted Citigroup to step up its price target to 195 pence and reiterate its 'buy' stance on the stock. The house also increased its 2005 revenue forecast to 140 mln stg from 132 mln, and its 2006 prediction to 189 mln from 180 mln.

Elsewhere, Cazenove repeated its 'outperform' recommendation on Wolfson

http://thescotsman.scotsman.com/business.cfm?id=202622005&20050223040609

Gone back into Woolfson WLF having waited to see if there were the usual sell offs after results. No problem and outlook statement looks very encouraging.................

Outlook

The Company has entered 2005 with the widest product range and design wins in
its history which we believe provides a solid platform for the Company's
prospects. Demand for digital consumer electronics products, in particular
portable devices, remains buoyant. Although early in the new year, current
trading is encouraging and the Board is confident of delivering year-on-year
growth in sales for both the first half and the full year

cheers GF.

Hoping for a prosperous future here and a return to previous highs.

cheers GF.

A down day across all the small cap board, not company specific. No reason to sell.

cheers GF

What a lovely recovery. On its way to breaking up aswell. Moves fast this one.



cheers GF.

Buys greater than sell volumes now should start to turn positive.

cheers GF.

Buys now far outweighing sells. Price getting more positive.

cheers GF.

Still in the red. Great recovery story and buys far outweigh sells.

cheers GF.

50 DMA almost crossing the 200 DMA, good buying opertunity here, me thinks....may get on board in the next few days

Just moved back in myself. Sure it would have been up today if we didnt have a lousy market all round.

cheers GF.

Added more this morning. Looks to be well undervalued.

cheers GF.

Just ticked up nice.

cheers GF.

Ticked up slightly more.

cheers GF.

WLF just starting to climb up.

cheers GF.

Moving uup nicely now.

cheers GF.

Cheers GF!


8-)

cheers for what?

Fresh air, I just love it.

Point aside though azhar WLF is looking very strong now, do you not agree.

Cheers GF.

Yes still holding mine from last times drop. Silly me never averaged down when it dropped to 1. This will be 250 soon but need to break 195 and 210 first.

Profit taking going on this morning, nice time to get in. Itl come back this afternoon.

cheers GF.

Buyers starting to move in.

cheers GF.

AFX reports that Citigroup are to step up its price target to 195 pence and reiterate its 'buy' stance, and also increased its 2005 revenue forecast to 140 mln stg from 132 mln, and its 2006 prediction to 189 mln from 180 mln.

And apparently Cazenove repeated its 'outperform' recommendation on Wolfson.

cheers GF.

Wolfson Microelectronics PLC
24 March 2005


Wolfson Microelectronics plc
24 March 2005


Cirrus Logic and Wolfson Microelectronics Settle Litigation

Edinburgh, Scotland - 24 March 2005: Cirrus Logic Inc. (NASDAQ: CRUS) and
Wolfson Microelectronics plc (LSE: WLF.L) today announce that they have settled
all outstanding litigation between the Companies.

In October 2003, Cirrus Logic brought suit against Wolfson Microelectronics plc
and its subsidiary Wolfson Microelectronics, Inc. in the U.S. District Court in
San Diego for patent infringement. Cirrus Logic subsequently initiated an
investigation by the United States International Trade Commission (ITC), which
terminated in February 2005.

Under a settlement agreement, the parties have agreed to withdraw all
outstanding claims and counterclaims in the US District Court proceedings. An
application is being made to the ITC for the withdrawal of the exclusion order
that the ITC issued in February 2005 in relation to one of the Cirrus Logic
patents.

WOLFSON Microelectronics looks to have saved itself more than $1 million (520,000) after finally settling its long-standing patent dispute with US-based Cirrus Logic.

The Edinburgh-based chipmaker confirmed yesterday that both parties had agreed to withdraw all outstanding claims and counterclaims in the US District Court proceedings, but declined to reveal the terms of the agreement.

It is, however, understood that no compensation is to be paid to either party. It also means Wolfson will no longer have to stump up millions of pounds in legal costs.

At the time of its full year results last month, chief executive David Milne said legal costs during 2004 had run to a greater-than-expected $4.1m. He also told analysts that Wolfson was expecting to fork out another $2m this year.

With yesterdays settlement, Wolfson will instead be able to pocket the remainder of the funds that had been earmarked for the litigation - thought to be in the region of at least $1m.

The lawsuit, which has cost Wolfson more than $5m, was originally filed by Cirrus in October 2003. It referred to two patents which the Texas-based company claimed Wolfson had infringed.

http://thescotsman.scotsman.com/business.cfm?id=316912005

director bought 15,000 shares today @$2.93 ( 1.559). I think its time to buy in. Any views?

Wolfson Microelectronics (LSE: WLF.L - news) (WLF) Director name: Mr Robert Eckelmann Amount purchased: 15,000 @ 156.43p Value: 23,463

Apple's Profit Up On Sales Of IPods
Music Players Help Increase Interest in Macs

By Mike Musgrove
Washington Post Staff Writer
Thursday, April 14, 2005; Page E06

Apple Computer Inc. reported yesterday that sales of its iPod music player increased six-fold in the second fiscal quarter from the comparable period last year and said the gadget's popularity is helping push computer sales.

The phenomenally selling music player was largely responsible for boosting Apple's quarterly profit to $290 million, up from the $46 million profit it reported a year ago. Revenue for the quarter was $3.24 billion, up 70 percent.

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Most consumer-electronics products experience a sales peak during the end-of-year holiday season before dropping off in January. But sales of the iPod increased in the first calendar quarter of this year, thanks to the introduction of the iPod Shuffle and price cuts on existing models.

In the three months ended March 26, the company sold 5.3 million iPods, up from 4.6 million in the previous quarter and 807,000 year-over-year. Despite a program that has competitor Hewlett-Packard Co. selling iPods, the company said yesterday that less than 3 percent of the iPods sold in the quarter were sold through HP.

Company officials said the music player is steering new customers to Apple's computers, which have held under 5 percent of the U.S. computer market in recent years. Apple's computer sales in the second quarter were up 43 percent, with more than 1 million Macs sold.

Timothy D. Cook, Apple's executive vice president of worldwide sales and operations, said in a conference call with analysts yesterday that computer purchases surged, driven largely by first-time Mac buyers, who accounted for more than 40 percent of sales.

Tim Bajarin, principal analyst at the research firm Creative Strategies Inc. called the iPod's impact on Mac computer sales a "halo effect" and credited customer service at Apple's retail stores for the increase in computer sales. "These guys are really good at helping you not only focus on the iPod, but on how well it works with a Mac, too," he said.

From January 2004 to February 2005, Apple's stock price soared, to $40 a share from about $10, outpacing the rest of the tech sector. After a stock split in February, the share price has remained flat. The stock closed yesterday at $41.04 on the Nasdaq Stock Market.

Apple announced this week that its latest major update for the Mac operating system, code-named Tiger, will be released on April 29. The software boasts 200 new features, according to the company, and will cost $129.

http://www.washingtonpost.com/wp-dyn/articles/A51786-2005Apr13.html

PSP sales of over half a million in US ...General
Posted on Friday, April 08, 2005 at 14:12 by Laurence Norah

Sony has announced that their new hand held gaming console, the PSP, has had record sales figures in its first week in the US, with over 500,000 units sold already.

The demand for the console brought in a record $150 million in the first week of sales, which is more than any other console has made in its launch week. No doubt Sony were delighted by this, as can be seen by the comments made by Kaz Hirai, President and CEO of Sony Computer Entertainment America:

The launch of PSP was everything we hoped for, with extraordinary consumer demand driving sales of hardware units alone upwards of $150 million in first week sales, far and away above those generated by any other product in the space. In only two weeks, PSP is having an immediate impact across the entire industry as consumers are clearly voting it the product of the year in 2005.

With more features looking to be added to the handheld device, and certain users having already figured out how surf the web from the PSP, we don't expect to see Sony's sales figures dipping away any time soon.


http://itvibe.com/news/3434/

Things begining to look very interesting here again guys. One of the best stock to buy and hold IMO for 2005. Any views?

old news but interesting

Wolfson Safe From Digital Camera Slowdown

Tuesday, April 05, 2005 7:39:20 AM

1119 GMT [Dow Jones] Despite the dip in digital camera sales in Feb, Wolfson (WLF.LN) is protected, says Baird. Says digital cameras will be one of the main growth drivers in 2005, but sales have been slowing for some time. Plus, Wolfson's chips have been designed into a number of new breed of combined still/handycam devices which could breathe life into the market in 2H. Rates Wolfson at outperform.

http://www.newratings.com/analyst_news/article_762616.html

Monday April 18, 01:15 PM
New Consumer Markets and Feature Integration to Drive Wolfson Growth; Wolfson to Release ''Audio-plus'' Solutions Featuring Increased Mixed-Signal Int

By Business Wire

Wolfson Microelectronics plc (LSE: WLF.L - news) (LSE:WLF) believes that growth in new and existing classes of high volume digital consumer electronics,

requiring high fidelity audio, will drive demand for mixed-signal semiconductors. New applications like DVD-RW, wireless-enabled Hi-Fi, LCD-TV, VoIP and automotive entertainment are continuing to emerge. Portable multimedia devices, like multi-media phones, DSC and MP3 players, are being differentiated with improved performance and functionality, driving a need for more integrated mixed-signal solutions.

"We are seeing two trends in the market that we believe we can build on positively for the next phase of our growth strategy," said David Milne, CEO of Wolfson Microelectronics. "The first is the emergence of new classes of high volume digital consumer electronics, with a need for quality audio. The second is that portable devices like multi-media phones, DSC and MP3 players will require more integrated mixed-signal solutions, to support improved performance and increased functionality with no compromise on cost, size or battery life. In the next year, Wolfson intends to not only release new, integrated mixed-signal audio semiconductors to leverage our existing analogue technologies into emerging markets, but we will also be developing complementary analogue strengths to extend our reach into existing markets."

Audio-plus(TM) strategy

Wolfson's new "Integrated Sound and Power(TM)" devices, which will be announced later this year, will be the first examples of Wolfson's 'audio-plus' strategy of using its strength in mixed-signal engineering strategy to integrate other analogue-intensive mixed-signal functions with audio.

"We see the combination of audio and power management functions to be an obvious integration path. Wolfson's passion for audio translates well into the portable market, and resonates with rising consumer expectation for the sound quality associated with new multimedia experiences," Milne explained. "This is one of a number of paths for mixed-signal integration that we can see that should allow Wolfson to build new strengths alongside audio silicon engineering. In each of these paths, the audio quality is the element that most directly influences the customer experience, and the key challenge is always to achieve the benefits of integration without degrading that experience."

In order to support the trend for integrated audio-power solutions for portable applications, Wolfson has built a power-focussed design team in Swindon, UK, which complements its audio engineers in Edinburgh, UK.

About Wolfson Microelectronics

Wolfson Microelectronics plc (LSE:WLF) is an award winning, fabless semiconductor company based in Edinburgh, UK. Wolfson develops and markets high performance mixed signal semiconductors for multimedia and communications applications worldwide. The company currently has sales offices in the USA, Japan, China, Taiwan and Korea. For further information please contact: sales@wolfsonmicro.com.

For more information about Wolfson Microelectronics products and services in the US, Call: 858-676-5090. For additional information, visit: http://www.wolfsonmicro.com/.

Wolfson Microelectronics plc
Anne Connolly, +44 (0) 131 272 7000
anne.connolly@wolfsonmicro.com
or
VitalCom PR
Karen Tyrrell, 650-637-8212 ext. 204
Karen@vitalcompr.com
or
Neesham PR
Peter van der Sluijs, +44 (0) 1442 879222
peterv@neesham.co.uk

Monday April 18, 01:15 PM
Wolfson Expands in Asia Pacific Region; Adds Office in Singapore, Expands in Japan, Korea and China
By Business Wire

Wolfson Microelectronics plc (LSE: WLF.L - news) (LSE:WLF), is expanding its operations in the Asia Pacific region with the opening of an office
in Singapore, and in Osaka, Japan and the expansion of its teams in Tokyo, Shenzhen and Seoul. Wolfson recently opened a logistics hub in Ipoh, Malaysia.

"The Asia Pacific region including Korea and Japan now accounts for 88% of Wolfson's worldwide sales," commented David Milne, CEO of Wolfson Microelectronics. "Specifically we saw very strong growth in Japan in 2004, tripling our sales over 2003 levels. Our expanded presence in the region is intended to strengthen our relationships with existing customers and assist us in winning new designs."

The new office in Osaka will support Wolfson's growing business in the Kansai region of Japan, and complements the expanded Tokyo office. Mr. Toshiya Kunita has been appointed as the Sales Manager for the Osaka office.

With the opening of the Singapore office, Wolfson will be able to offer more local sales and engineering applications support to customers in the South East Asia region, and hopes to increase its business in India. Mr. Eugene Goh has been recruited to lead the office and he brings to Wolfson extensive experience in the semiconductor industry in South East Asia, including time spent at AMD and Arrow.

Other expansions to the Wolfson team in Asia include new applications engineers in Tokyo, Shenzhen and Seoul. In Tokyo, Keiji Mitsushita has joined Wolfson from Olympus as an applications engineer and Mr. Kanzunori Hori further strengthens the sales team. Two new applications engineers have been added in the Seoul, Korea office, and three to the Shenzhen, China office.

About Wolfson Microelectronics

Wolfson Microelectronics plc (LSE:WLF) is an award winning, fabless semiconductor company based in Edinburgh, UK. Wolfson develops and markets high performance mixed signal semiconductors for multimedia and communications applications worldwide. The company currently has sales offices in the USA, Japan, China, Taiwan and Korea. For further information please contact: sales@wolfsonmicro.com.

Wolfson Microelectronics plc
Anne Connolly, +44 (0) 131 272 7000
anne.connolly@wolfsonmicro.com
or
VitalCom PR
Karen Tyrrell, 650-637-8212 x204
Karen@vitalcompr.com
or
Neesham PR
Peter van der Sluijs, +44 (0) 1442 879222
peterv@neesham.co.uk

Wolfson Microelectronics says orders on track to deliver H1 and FY targets
AFX


LONDON (AFX) - Wolfson Microelectronics PLC chief executive David Milne said current order bookings are on track to deliver increased sales for the first half and full year.

In an AGM statement, Milne said the trading outlook for 2005 is in line with the preliminary results announcement of Feb 22.

20% growth it will be then. Not bad

Thx Azhar,

Appreciate your input on this BB.

;-)

May 10, The Times.

Wolfson Microelectronics dipped 3p at 140p, despite suggestions that it has extended its reach in the consumer electronics market it supplies Apples iPod and Sonys PlayStation Portable by providing semiconductors for Microsofts Xbox 360, which will be unveiled on Thursday.

Financial Times

The Lex Column:
..
..
..
..
*Microsoft (NASDAQ: MSFT - news) contract hopes lift Wolfson Microelectronics (LSE: WLF.L - news)

Thanks Azhar for consistant newsflow. Do you know if the micrsoft contract is based on the Xbox and whether this has been confirmed? I understand the Playstation chips are both visably identifiable on the unit and are to be based on a royalty deal of around $1 per unit to be sold, so perhaps a similar arrangement with Xbox?
Last month but very enouraging write-up: http://www.masshightech.com/displayarticledetail.asp?art_id=68325

Begining to look good again. Any views or further confirmations whether Xbox has the chip?

up 5% today. The chart is looking similar to same period last year, possibly have a nice build up in SP until results in july. we need to break 180 as this failed last time. Good luck all holders.

June 20, 2005 08:15 AM US Eastern Timezone

Wolfson ADCs Bring High-Performance Recording to Portable Consumer Electronics

SAN DIEGO & EDINBURGH, Scotland--(BUSINESS WIRE)--June 20, 2005--Wolfson Microelectronics plc (LSE:WLF) has extended its ADC range with the addition of two new devices for consumer electronics with record functionality, such as digital still and video cameras, games console accessories and wireless microphones.


The Wolfson WM8950 and WM8951 offer highly integrated microphone support solutions characterized by low-power consumption, compact size and an excellent audio performance with a signal-noise ratio of 90dB at 3.3V.

The Wolfson WM8950 mono ADC supports both differential and single-ended microphones and has microphone pre-amplifiers to reduce external part count. Key features include advanced sigma-delta converters, which are used alongside digital decimation filters, to give high quality audio at sample rates from 8kHz to 48 kHz. Additional filtering options include a programmable high-pass filter, for wind noise and other extraneous noise reduction, a programmable IIR filter and an advanced programmable ALC with noise gate in the ADC path.

The WM8950 also supports A-law and u-law compounding for reduced data rates over a wireless link and an integrated PLL allows support for a wider range of clocking rates. Wolfson offers the WM8950 in a highly compact 4mm x 4mm QFN package, and it can be powered from a 3V supply.

The WM8951 is a high-performance stereo ADC which can operate at digital voltages down to 1.42v and analog voltages of 1.8v. Packaged in a compact 5mm x 5mm QFN, the WM8591 achieves an SNR of 90dB at 3.3V, 85dB at 1.8V, and supports sampling rates of 8kHz to 96kHz. It also features a selectable ADC high-pass filter, a serial audio interface and 2/3 wire control interface for software access to all features including volume controls, mute and power management.

Price and Availability

The WM8950 and the WM8951 are available to sample now and are priced at $1.27 and $1.12 respectively in volumes of 10,000.

Thursday Jul 14 2005. All times are London Time.

uk:wlf

Wolfson bigger Apple bite buoys shares
Shares in Wolfson were 0.6 per cent higher at 165.8p in afternoon trade on Thursday after the company reported stronger than expected sales, with higher demand for microchip components from Apple. The Californian computer hardware manufacturer uses Wolfsons chips in its iconic iPod personal music player. Apple is expected to launch a new iPod model later this year and this could provide a further boost to Wolfson. Analysts at Citigroup estimate that demand from Apple could account for 11 per cent of Wolfsons total sales this year. Wolfson is due to report its first half results on July 27. 15:1

Chip group Wolfson Microelectronics saw its shares climb 16p to 182p after the company posted a solid set of interim numbers. The company, which supplies mixed-signal semiconductors for the consumer electronics industry, unveiled pre-tax profits of 9.2 million dollars for the 6-month period to June 30th, up from 8.5 million dollars a year earlier, as sales climbed 12% to 63.8 million dollars. In an accompanying statement, chief executive David Milne said that sales for portable devices in particular had been robust. The growth in portable products stemmed from strong end-user demand for portable music players such as the Apple iPod and iPod mini, alongside games consoles, PDAs and portable GPS devices. Going forward, Wolfson remained largely upbeat, as it said it expected its portable segment to continue to account for more than half of total revenues.

http://business.timesonline.co.uk/article/0,,9075-1754741,00.html

The Company is also beginning to gain
traction with major multimedia mobile handset manufacturers such as Samsung, LG
Electronics, and PalmOne. Wolfson has over 20 design wins for multimedia phones
from Korean, Japanese and Chinese manufacturers that are scheduled to go into
production in the second half of this year.

things going very nicely so far this year. The success of Ipod is undisputed-apple released massive profits on the back of sales last week. Xbox and PSP are also shaping up to be very lucrative products containing Wolfson chips.

Certainly worth a look and a bit of research. All signs to a great future. 300p today. predict a bit of profit taking then on the up again.

Chips with everything, mainly supplied by wolfy. Wlf chips in most of the big selling electronic goods at the moment and looking good for the future and conversion to digital tv. SP already been on a brilliant upward line since recommended by appple i think this is set to continue though at a slower rate.

Cheap as chips - you decide, still in an upward motion. Around 314p mark today.

Finished at 323p and up 6% today alone. More than doubled in price in 7 months. Will it continue????????? Big xmas market for its electronic products containing wolfy chips. Will also be involved in digi tv box for the digi revolution. Still think it will fall a bit (profit takers) before the next push upwards. dyor. maybe risky but its all up up up at the moment.

Now 338, dont say i didnt tell you, suprised there is not more interest in this one. In short term its looks pretty near the top to me (depending on xmas trading) but long term looks good too.

Definitely agree Kivver, the chart is looking fantastic. Price may consolidate with profit-taking in the short term, but momentum will depend on xmas trading. Cannot see that being anything less than excptional with regards to those of Wolfsons' clients leading their field in consumer entertainment. Ipod, PSP and XBOX sales have got to be phenomenal and, if I am not wrong, Wolfson has royalties on the sale of each unit and certainly on that of the PSP. Much of this expectation may be factored into the rising price since mid-may, however, until hard figures are released some may remain on the sidelines and allow the likes of you and I to ride the wave!

momentum continues at the moment.

relentless! Where will it end?? and how silly of me not write a book (with imagination, right oldwick?) on the subject.

TAU - are you enjoying the wave?????? just when you think it cant go any further, off it goes again, and happy day for me and of course anyone else clever enough to follow my tips (given to me by another great tipster by the way). :0) .

I was stopped out of WLF at 358 on drop back from 368, not entirely pleased until I noticed Buy Volume 1,065,088 against sells of 2,961,645 ie 3/1 on higher volume than average. Also noticed some large sales 300,000 sells.

My guess this share has topped for a while and will fall back. Could be wrong.

read my posts fred, ive been saying exactly the same for the last 3 weeks but it keeps on going.

if you follow the share recently it always goes up most on days when there's much more sells, as if they want the shares. And it goes down significantly on days when there are much more buys. I don't know if it's just coincidence or filling buy and sell orders in the wings. Of course people assume that if people want shares the price is moved down as a treeshake, but if that doesn't work they can just move it up to try and get profit takers that way. The problem is that there's so many momentum traders out there that shares go up just because they're going up, so in theory this makes it more likely that they'd drop the price to get sellers, to discourage the momentum traders.

What interests me are the majority of indicators I try to use are positive to the share. But the volume change is chalk as up because end of the day is up.

I dont know, but I am not unhappy with recent profit.

''the trend is my friend'' but apparently for few others, oh well i did tell you.

Kivver, to keep you happy there is a buy out from City Group with target price of 416p, Where they derive that figure from with its forecasts I don't know.

I agree the trend is your friend until IT ENDS. I still feel a little to jumpy about this share and think there will be a slight correction. In the meanwhile replaced it with Amlin.

Cheers fred, im very happy and in very good profit thank you. (also hold azm, kmr, NG., hmy, asc, cyh and bprg, amonst others).

needless to say kivver!

small piece in yesterdays Guardian re:Citigroup increase target price to 416p.

'The US broker believes its sales forecasts for 2005 could be too low given strong iPod sales over Christmas. Citigroup has also raised its sales forecasts for 2006 to $231m (132m) from $201m and for 2007 to $300m from $232m, to take account of a new power-saving product that Wolfson plans to launch this year. "We believe that over time Wolfson will target selling a power management solution with every product they currently sell into the portable (device) market," Citigroup said.'

buys still outnumbering sells. results the 1st of feb.

384p, the rise fantastic continues, so suprised with so many experts on these bb's that there is not more interest in wolfy. OH well, chuffed with my 33% profit in 5 weeks. The big question, take the profits or hold on for more. Results out on the 6th feb. Long term looks good with new products coming on line.

I think this is a share that will soar in the long term so worth holding onto.

then up some more, wooooooooooooooow

EGM called for 26th Jan - BEFORE results!
Must be urgent?

why would this be, anyone know???

Big commercial announcement?? Would be great! EGM is a bit out of the blue especially in its timing, some mutterings on other boards suggest the urgency is to help avoid info leaking. Really could not speculate but may be worth keeping an eye open for suggestions in the media.

Further speculation on advfn is that the EGM is quite dull regarding 'employee incentives'...options etc. Accordingly, the co. has been contacted and this was their response. Slight pullback in sp today can only be healthy for any pre-result surge!?

today may be another buying opportunity, it certainly was for me, but this is a share on the rise, a bit boring really! Buys out weighing the sells even with the drop.

God this thread is so boring, i mean fancy coming on here a talking about a share whoes rise seems to be relentless. much better off on the yoomedia or dmr where the shares seem to be going nowhere, lol.

really awful.

Just you and me tau then enjoying the ride, went above 400p and a reractment since but still good news. ITs now dilemma time, stay for ride short or long, sell nearly 35% better off in 6 weeks or take some profits or looking so good, to buy even more.

Right back to the sideways and downward share threads where there is a lot more intrest being shown!

Does seem exceptionally quiet kivver despite the relentless climb in sp. Am also in the same predicament regarding sell, buy, sell some, sit on hands etc. I believe it may be worth holding at least until results especially looking at the reaction of Apple on the back of announcing 14million+ ipod sales over the christmas trading period and 42million total sales. Having said that, I have seen many companies publish fantastic results and the sp falls! I guess until we get some numbers it is hard to say what factors are already in the share price and also what future revenue streams are looking like. Can't help being VERY optomistic about the medium term, Wolfson is simply exposed to too many high-selling products. Success is currently consumer-driven, a sustained downturn in US and UK economies is my only sell guide at the moment im afraid.

theres also the addage ''buy on the rumour, sell on the fact'' so that might say sell the day before the results and buy back back in if the market reacts well. I still say it should be excellent long-term because of many new products (such as digital tv) coming on line.

'profit taking day', could be a time to top up! 367.5p now, right enough of this boring rising share and back to the dmr thread.

Very good recovery

Did you get in, Kivver? Thanks for your advice.

Yes i did thanks, still not sure which way this this going to go but the momentum is certainly behind it. Results out in about 2 weeks. Xmas trading with products containing wolfy chips was outstanding.

dont say i didnt tell you, but i did, right back to sideways and downward threads. where there is a lot more interest than these boring, rising shares.

Wolfson Offers Class A/B-to-D Switchable CODEC
Tuesday January 17, 11:53 am ET


EDINBURGH, Scotland--(BUSINESS WIRE)--Jan. 17, 2006--The world's first Class A/B-to-Class D switchable stereo CODEC is now available from Wolfson Microelectronics (LSE:WLF - News). The WM8985 is targeted for use in mobile phones, MP3 players and wireless headsets and has an integrated Dual Mode Headphone driver, dynamically switchable between Class A/B Class D drivers. Class D increases efficiency by up to 70% while Class A/B mode provides additional flexibility to the designer.
"The WM8985 is the first product of its kind on the market to tap into the need for both audio quality and power savings needed for today's consumer audio products, including radios, mobile phones and RF-transmitting portable players," said Nat Edington, Wolfson Microelectronics Business Unit Manager.

As noted by Gartner analyst Stephen Ohr, "Class D amplifiers may be listenable at a fraction of their rated power. And just as Class AB is a power-saving extension of Class A, the industry is hoping to render Class D as a power-saving extension of Class AB."

The high-performance CODEC is based on Wolfson's proven 897X platform and includes a built-in audio-enhancement DSP for wind noise filter, notch filter, 5 Band EQ, 3D audio. The WM8985 supports up to two differential microphone and analogue stereo line inputs, enabling direct mixing from an FM radio, and has two pair of headphone drivers enabling two users on one audio player. An integrated PLL supports input clock between 9 to 27Mhz.

Price and Availability

The WM8985 is available for sampling in a 32-pin QFN 5X5 (pin to pin compatible with 8976/8978), priced at $2.24 in volumes of 10,000.

the march continues, dont say i didnt tell you.

i find it quite incredible on a board for, hopefully, experienced or budding investors there hasnt been more interest in wolfy, the rise as been relentless lately and the biggest gains have probably gone. trading update out on wednesday the big dilemma now is whether to stay in for the results. long term things look very look good. short to medium term after a big rise, who can say???

Kivver from an amatuer
TAKE profits!!

kivver, what do you want us to say. Just because we're not posting doesn't mean we're not in it. After all the boards with less posts are normally the best shares to be in, eg. Accident Exchange Group, Aberdeen Asset Management, I started a board on the latter last week and no-one even bloody bothered to look at it let alone contribute to it. Some of us have been in WLF since 260. It went up on Friday according to The Scotsman because an American company broadcom who has a similar audio chip in the IPOD had results at the top end of expectations, WLF are meant to have a similar royalty agreement except it's confidential. I've seen you posting on VOG. Although it's tempting to sell before results, sometimes it's best to buy more of the shares that keep going up, as the graph starts to curve vertically upwards, a friend told me, at this point it starts to accelerate. We intended to buy more at 3 or on a pullback but no chance. I think the thing which inhibits a lot of traders is they're worried it's gone up too much as with many shares, fair enough, but sometimes the strongest keep rising albeit with rests along the way, eg Accident Exchang, ABDN or the miners.

saintserf - not having a go at anybody, glad you had the foresight to get in so early i wish i had. i suppose i find incredible so many can involved in dmr thread or similar threads and not winning threads like wolfy. Anyway trying to differentiate between the sensible posters and like what you say and will look out for your posts. good luck to anybody in over the next couple of days

Thanks Kivver. I didn't mean to come across aggressively. Believe me I've been there with "popular" bulletin boards, eg. tadpole and superscape. I think people like these boards because they provide reassurance that everything's okay with the share and the drop is just down to the MMs. The Naked Trader, whose site I quite like mentions this in his recent book. I like Peter Lynch's books for advocating boring shares. Without sounding like I know it all, believe me I wish I knew just a little bit, If you're in a share with a good upward trend and you buy on dips when it starts to come up again I think the charts give you reassurance and you don't need to worry if the price drops a day or two as long as its in the trend. A friend kindly explained this to me as well as lending me a great book "Charters on Charting" which I think may be out of print, but explains the basics very clearly. I'm still learning.

to sell or buy with a trading statement out tomorrow, dont think people really know.

must admit I took a few profits yesterday but have left my original holding for the medium term. I don't think there are any doubts that trading will be at the top end of expectations, but it will need a positive statement of future prospects to keep the sp rising. Having said that, the new stream of Wolfson products appear to be geared to 'energy-efficiency' including new chips for the ipod which I believe constitutes around 20% of Wolfson's business. I really cannot see anything but a successful year ahead for Wolfson and it will be interesting to get some verification of this from the management tomorrow.

decided im going to hold on and go for it, in some ways the selling might help.

hope you sellers are sorry in the morning!!! if not i will be

profits expected to be 32 million dollars it actually produced 38 million, looking good for the future.

read on

hahahahhahhahahahahahahahahahahahahahahahahahahahah now everyone knows how serious you are. your credibility (as if you had any) has gone right down the drain. We all know you and onechunkymonkey are one and the same just how thick do you think we are. hahahahahahahahahahahaha. Match your axm chart against my wlf one anyday.

heres the wlf one, shall we put up axm..........joker

Oh come come. All I did was ask a question. Is WLF so sensitive that it cannot withstand this??? I don't think so -and yes it has done very very well indeed over the past few months. But don't you think you should consider the time-old adage about 'what goes up must come down' ??? It's just a question. I'm not being personal.
As for you saying I am somebody else -why on earth would I be??? Believe me, I am more than capable of expressing myself under my own name. I am sorry if I offended you and I know that my humour can sometimes comes across that way but, as I say, I was just asking the question.

it was a politians leading question enhanced by the picture and the questionable 70% bailout. since you like to quote buys and sells so much now 2 sells to every 1 buy. as to the question, certainly not time to bail out this mornings statement said it all.

the futures bright, the futures blue!

jiggles ... sings ''im walking on sunshine''

There's often more sells than buys when the price goes up and vice versa when it drops.

and still it continues, unbelievable!

Directors selling WLF shares annouced in the Daily Mail today

yes some sold but still hold decent sized tranches.

It got a good write up in the scotsman today. A big piece about analysts reaction to it as "excellent" and 56% ahead of their own housebroker's estimates. All encouraging.

Sounds good to me so I just bought back on the 'dip' I hope ! T20 credit @ 422, so keep moving up wolfy!!

.

Price dwindling downwards today

A great buying opportunity

the voice of calmess and sanity, i agree exotoxin though i think the rise will slow and perhaps even more profit taking before the next push up. the group are now going to announce results quarterly and this will help the sp a great deal. wolfy looks a diamond at the moment.

if you dont sell the price dont go down.

if you dont stop selling a great stock ill have to join you, use your brains girls and boys.

Even the directors are selling, so I think WLF is possibly too pricey at the moment at 400p.

re jiggles or is it biggles?

Wolfson isnt really high growth it just produces lots of high margin chips when the demand is there - as it is!

New products are coming out at an alarming rate and technology becomes 'old' in a very short space of time fuelling demand for new products and quality suppliers like wolfson will continue to satisfy that demand.

All p/e ratios are HISTORIC and vary with share price and earnings so if earnings rise 30% next year as predicted by brokers est then p/e falls to 15 if the share price stays the same. That is why some companies have high p/e and people keep buying shares because earnings are rising fast. If the shares rise to 5 then this increases the next year p/e by 25% to about 20 if earnings come in as expected.

No CRASH just some profit taking AND LETTING OFF STEAM!!!!!!!!

well said ian, biggles more anti kivver other than anti wolfy. noticed directors have excerside some options rather than sold. whats the difference????? ps still more buys than sells at this moment.

Jiggles i don't think it's ramping ,this is a quality play ,i was in at 245p ,i'm laughing all the way to the bank..

hahahahahahahahahahahahahaa when you have had the %age rise with axm as i have with wlf, iqe, cs and kmr you can come and criticise me. now go back to your sideways and downward thread theres a good boy. ps cheers jimmy

cheer up biggles, first of all a ramper, now a cocky git, anything else that i am??? ps do you know what a ramper is???? pump and dump???? keep this a secret but im still in wlf even though the price is falling ssssssshhhhhhhhhhhhhhhhh.

i think you sellers are going to regret it, i know you have sold at a very good profit but there is more come. 393p at the mo.

buys now nearly equal with sells, i knew there were some canny investors out there. around 401p now.

further research shows price of buys far outweighs the price of sells.

buys now out numbering the sells and the price goes down, its weird thing this stock market. i still dont get it!

Kivver ,i wouldn't always rely on the buy/sell figures you read on the moneyam screen (if thats what your looking at) ,some trades are delayed and get in as buy when they are a sell ,or the other way round , especially when there are a lot of trades going through and the price is moving up and down ,with a tight spread..

hi jimmy, also using www.sharecrazy.com, dont know how accurate they are but they actually record more buys for wlf than moneyam. Perhaps others use sharecrazy.com and could tell us what they think of them??? onechunkymonkey uses them on the axm thread but I take most things he says with a pinch of salt.

Kivver can i suggest u look at who sharecrazy are tied in with........then take the pinch of salt......

UUUMMMMM interesting!! will do!

do i take it you mean H B & P??? I know they have given some bad tips but didnt know there was more to their sculduggery???

I noticed not all shares bought or sold are shown. I sold some WLF the other day but it did not show up on the moneyam screen...so I wouldn't take it as 100% accurate.

I do a lot of t+20 trades and they never seem to show up! Also bear in mind that MM's dont have to reflect days trade in shareprice movement as they can square the books much later thereby moving the market to their advantage. Buyer or seller beware!!!

Large buys today and buys outweighing sells by a large margin at 1pm. Is wolfy on the turn after all the small players took fright and their good profits?

i hope so, im still in and very positive in the longer term, shame the directors didnt feel the same!!

Big sellers like institutions or sometimes management usually like to sell well short of the top so they can offload large numbers of shares; this is because there is more upside left and people will buy the overhanging stock. This one almost certainly has more to run , but a lot of shares are coming off the boil and a healthy dip is taking place. A famous financier (Rothschild I think) once said he wouldnt buy a share until it had risen 25%, then he would hold for 50% of its expected gain and then he would sell leaving 25% for the next man to buy!!!

am interested in this one. anyone think there is still more upside as it has risen quite a bit over the last 6 months. am i too late?? or is there more?

hi harry, i think the best of the rise is over for now but will continue much more slowly. wlf will now report quartly, so next financial report will be crucial to see the way the share is heading. Digital tv should eventually offer some good upside. ps dyor (must be purely your choice)

Signs of life?? Maybe MM'S need buyers for all those shares we've been selling?

not me ian, im in long term.

Bouncing back two days on the trot , can it get back over 4 ???

they say ''the trend is your friend'' certainly proving to be true. wlf has an excellent rise for a number months now then all the papers start saying you should sell the rise is over (i think it is best to do the oppisite to whatever these so called experts say). I didnt think it was or is. Glad i didnt join the bandwagon and sell.

Really like this company, looked at it when it was 2.40 but didn't have any cash, and I fear I have now missed the boat. Excellent prospect, should go higher, but too riuch for my blood currently.

Good luck to all who hold.

Prospector

I said the same when i had had sold CSR at about 450p Prospector ..

even shares mag advised people to take profits as well as all the daily rags. ''gi us a job''!!!!!

yup Kivver ,they all did , just goes to show ,do your own thing.

Looks like we're off again.
Although Fidelity are now out of notification range they may still have a lot to sell but the possible hold-back effect can only get less and the market has proved itself quite capable of absorbing them.

Right back up to 440p .:-)

And on to a new high ,are you still in this Kivver ??

no jimmy, looks like i dropped a big booby. i sold out at a much better profit than all the experts advised to sell at but suppose i was influenzed slighty by them and set doubt in my mind. Big lesson learned,, DONT LESSON TO THESE RAG WRITERS (dont even read them)

i wonder if it is the Dixons name change that is driving them??

Kivver i remember selling CSR for half its worth and thinking i was clever, anyway if you did well then you can't grumble, i'm glad i held this one , but i will keep a close eye on it.

well done jimmy, i sold out of this one to get into iqe, so did alright but could have made the same gain staying in wolfson. As you know wolfy is now going to report quarterly which i think is fantastic and have no doubt i will be back in.

Also sold out of another downward motion share (skyepharma skp) to get into acc (massive spread) but skp has started to go back up, typical!! Very dodgy (skp) but one to keep your eye on. Two webcasts (one april, one june) coming up, hope they are positive.

Cant really understand the drop in price recently. anyone any ideas?? is it just a temp correction??

first quarterly results coming up next week, should be interesting. All companies should report Quarterly imho!!

Bad event for holders tomorrow (Saturday) I think

whoooooooosh ???????????????????????????????????? you need a degree to understand some of the comments on this bb, lol!!!

great results!

Harry P - The drop was due in large measure to the Apple decision to drop Portalplayer with a a feared knock-on to WLF.
In today's presentation, it was made clear that there would be no knock-on effect and the sp bounded 25p within minutes.
It looks like a few traders may have got caught in the updraught which could yet have some way to go as the results (at top end of expectations) are assimilated.

looks like momentum could soon take us back up to 500p. Needless to say the next 6months are set to be very interesting.

Not too interesting for me, tau. Disastrous!!!

do not hold this share but have in the past- what is going on????????

Downgrades in profits. Time to get out before it goes lower

hear what you say, but with current orderbook it looks grossly overdone. anyway against my principles back into this one at 296

You're a brave one, robin hood

no not brave- stupid-got stopped out at 286 already so just pissed 175 away

You did the right thing to sell...it's 269p now

From 510p to 269p within 5 weeks.

i thought a bullish article in the TIMES sunday by grant ringshaw makes this a buy at this price, i personally think this drop is overdone.i am holding 20k @292p

When Grant Ringshaw says BUY, he means SELL!

Good to see I'm right...HUGE selling today...now 270p.

up today on yesterday's speculation that wlf chips are central to the Apple 'iphone'. Potential to increase earnings in 2007 as iphone rolled out over the summer in the US and Q4 in Europe. I think this may be a good chance to get back into wlf for sp recovery and growth as it is 'highy probable' that its chips are integrated in a product that Steve Jobs is branding as 'revolutionary'. Results to 31st December 2006 due on 31st January- any views?

Wolfson Microelectronics disappoints
MoneyAM
Semiconductor firm Wolfson Microelectronics saw its pretax profits rise to $44.6m in 2006 from $38.7m in 2005.

The group's annual revenues increased by 26% to $204.1m compared to $166.6m last time. Wolfson said its earning per share for the year stood at 26.66 cents compared to 24.95 cents the previous year.

David Milne, the group's CEO, said: 'In spite of challenging market conditions in Q4, we are pleased to report another year of strong growth in 2006 as the company's high performance products gain share in new and existing markets.

'For the year as a whole, we are well positioned to benefit from our expanding product portfolio and a strong design win position, particularly in portable devices. As a result, the company looks forward to delivering further growth in 2007,' he added.

The company expects to achieve first quarter 2007 revenues in the range of $37m to $42m and the gross margin is anticipated to remain at around 52%.

Bridgewell's Dan Risdale anticipates bringing his FY revenues forecast down to the $230m level from $244m with EPS moving back to 34 cents from 37 cents. This, he says, would imply a P/E of 17 times, only a slight discount to its global peer group.

The analyst is placing his recommendation under review pending the results briefing.

I can confirm that Apple's iPhone contains Wolfson audio chips, part numbers WM8758BG and 73AFMN5.

3rd quarter results due at the end of the month.

Some positive action today.

Definately one to keep an eye on for the next 10 days.

Not in this one but looking interesting...anybody think this one has reached the bottom yet ?...does seem to be slightly undervalued possibly !

Glad I did not get in....unbelievable knock down today !

This is over done - should bounce back quickly

We all know who the major customer is...it doesn't take rocket science to know who that is...IT IS Apple Inc.


Wolfson Microelectronics loses design deal but still confident on growth - AFX


LONDON (Thomson Financial) - Wolfson Microelectronics PLC said it has failed to win a media player design contract from a major customer but still expects to meet the market's full-year revenue forecasts, thanks to growth in other areas.

Wolfson said the impact on second-half revenues, stemming from the loss of the contract, is expected to be mitigated by stronger than expected growth across its customer base and from other applications.

The company said it remains confident it will achieve growth in 2008 and reconfirmed its first-quarter revenue guidance of 44-48 mln usd.

The group said it will announce its first-quarter results on April 24.

Bad week for this one...I bet there are many people that have suffered big losses on this one, as it was up in the 140p's at the beginning of the week !

It's very prone to big movements this one.

This time however...........

Not too sure but the market is wrong for a great recovery for a while.

Investors Chronicle reported that WLF is still looking expensive at 110p today.

Which is very sad if you knew what price I've got it!

I remember the Telegraph saying a few months ago it was a buy at around 270p

The Telegraph also said Ceres Power will go from 280p then to 370p-500p. Now around 175p.

I am beginning to believe that if IC suggests sell it is an indication to buy.

I use to credit their reports, but now just check projected PEs etc. which are still good.

I would be very brave to buy into this chart especially when WLF have lost its supply to Apple recently for its iPods.

Questor used to be highly rated but the credit crunch has destroyed their punts along with everybody else

As a guess, I think it will bounce off the 100p support line Although the short term MAs are not very reassuring nor are the majority of indicators.

Why is WLF tumbling to 88p today???

Sold at a loss at 86p today as my broker thinks it is unlikely to recover in the short term. Now 80p. Looks like he's right.


Wolfson says sales drop, shares tumble
AFX


Oct 2 (Reuters) - British chipmaker Wolfson Microelectronics Plc reported a sharp downturn in orders in the past few days as weak consumer confidence hits demand, sending its shares down as much as 25 percent to a new low.

The Edinburgh-based company, which makes chips for products including Apple Inc's iPhone, said it experienced a 'material reduction' in orders intake and more rescheduling of orders in recent days.

At 0830 GMT, Wolfson shares were down 15 percent at 91-3/4p, having fallen as low as 106-1/2p -- well below a peak of around 565p seen in mid 2006 and its lowest since flotation in 2003.

It said it now expects fourth-quarter revenue to be between $45 million and $50 million, compared with a previous consensus expectation of $58.87 million according to a survey of three analysts by Reuters Estimates.

Many memory chip makers are suffering from a downturn as a result of a supply glut and falling demand for consumer electronic devices.

Wolfson, which named Motorola Inc's Mike Hickey as its chief executive last month, also reduced its third-quarter gross margin estimates to between 50 percent and 51 percent from 52 percent, despite maintaining revenue guidance for the quarter at $56 million to $62 million.

Analysts at brokerage Panmure Gordon & Co cut their share price target for Wolfson to 100 pence from 120p, but maintained their 'hold' rating on the stock.

'Market conditions combined with negative newsflow should continue to result in the stock trading well below fundamental value,' analyst Nick James said in a note to clients.

Landsbanki cut its full-year sales estimate for Wolfson to $207 million from $219 million.

I think you're right jistyi - - - but then look at CYAN =up a huge amount ( OK from dire lows), yet no news at all.
Looks to me as though CYAN holders believe they will get a massive Order for MEter-reading,- BUT - as I've said ( there), who is paying for these meters - and "how many" do they want?
Will shareholders be asked to stump-up cash for this Order and the MM's are pushing the price to gain some headroom - dunno buyt where is the "news"?
I suspect the meter-numbers are quite small and whilst it's a massive order (compared with zero!) it's hardly enough to pay CYAN directors all their salary, bonus and Options all of which leave a nasty taste, er IMHO - DYOR -

Wolfson, by contrast, has top-nothch customers and it's only "time" that will resolve their market demand - provided they can stay in business.
I'm surprised you didn't sell at 1 as the prospects (then) were relativly unknown.
+Hey-ho I've done far worse!
I don't hold CYAN or WLF

WOLFSON BRACED FOR SLOWDOWN IN CONSUMER SPEND

Shares in Wolfson Microelectronics slumped to their lowest point since listing in 2003 after the specialist chipmaker issued a warning on its fourth-quarter performance, saying it expected revenues of between 45-50 million dollars, compared with market forecasts of about 60 million dollars. It blamed the cut on a deferral of orders across a range of applications, as well as a 'material reduction in order intake in recent days'. The shares fell 27.5 pence, closing at 82 pence.

Profits tumble at Wolfson
MoneyAM


Wolfson Microelectronics this morning posted Q3 adjusted operating profit of $9.1m, compared to $14.5m last year, on revenue down to $60.5m from $70.4m, and said it anticipates fourth quarter and full year gross margins to be around 51%.

Wolfson reported net cash inflow from operations of $10.0m and a net cash balance at 28th September 2008 of $88.8m.

The company said staffing levels have been reduced from Q2 2008 with annualised cost reduction estimated to be at least $4m.

Since the trading update on 2nd October, the market environment has continued to weaken and Wolfson has experienced a further broad based deterioration in order intake and rescheduling of orders.

Based on the information currently available, Wolfson now expects Q4 2008 revenue to be in the range $35m-$45m, resulting in anticipated full year 2008 revenue in the range of $196m-$206m.

Commenting on the results Dave Shrigley, CEO of Wolfson, said: 'Against a backdrop of difficult market conditions our third quarter revenue performance was in line with guidance. This result reflects the strength of our wide product portfolio and increasing penetration of the multimedia handset market. Furthermore, the Company's AudioPlus growth strategy is moving into the next phase, as the first products incorporating the technologies acquired last year enter the marketplace.

However, Wolfson continues to be affected by the unprecedented uncertainty surrounding global consumer confidence, leading customers across a broad range of applications to further scale back their orders to volumes well below normal seasonal patterns. In response we are continuing to control costs tightly to mitigate the impact on margins and maintain cash generation. With a strong market position, a robust balance sheet and a business strategy aimed at significantly expanding our addressable market, we remain well placed to return to growth when market conditions improve.'

wonder how much this will bounce today

Why is it a dead cat?

Wolfson Micro looking the business after a breakout from a resistance line of 130p/131p. An increase in volume adds to the case. The stock as also broke out from a down trend channel as shown in the chart...

"

Director bought 100k's worth (a tad over), make you think they know something we'll kick ourselves for not buying - but then GB and AD are telling us the UK is well-placed to come out of Recession . . . . do I smell something on my shoe...?

Wolfson business reflects the advanced- mood of consumer-gismo providers....and frankly I don't see Consumers spending good money for features they already have - a completely new m/c might do the trick, but it's difficult to see a new Market could open-up too soon.
Currently 1.20 - I suspect something like 80p would be fair, being as how we're in recession. Gismos may be exciting to investors/tech-heads, but do you really need a better 'phone or Ipod buster?

breakout!!!!!!!

200p here we come with this breakout in the early stages

the herd yet to see and buy in which will be later this afternoon and tomorrow morning

correction chart is saying 180p next stop

phone trading only, not many sellers and when the buyers arrive watch for the very sharp vertical rise

Shorting WLF too at 232p.

Excellent news!

Means my long will make me money ..

Very good. Cisco is in trouble now.

WLF will be downgraded soon.

How's your short going hlyeo?

Well I don't believe hlyeo ever puts any money on anyway but if he did short this, I guess it would have been stopped out long ago.

This is going great 4 me... 160p.

Poor quarterly results today... sp diving again.

Sp has halved since February