Way way too cheap in my opinion this one.

Trading on a prospective P/E of just 8.4 to 2011. Very cheap.

Just look at the projected NAV aswell come 2011...... 318p per share.

Loads of value here.

Some bullish broker notes out in the market.

Laird PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

KBC Peel Hunt Ltd
16-09-10 HOLD 39.00 11.71 6.30 52.50 15.76 6.62

Arden Partners
15-09-10 BUY 40.00 11.90 6.30 53.78 15.90 6.70

Altium Securities
03-09-10 BUY 45.00 13.20 6.00 57.00 16.90 6.50

The Royal Bank of Scotland NV
08-07-10 HOLD 40.37 11.33 8.50 50.77 21.04 10.00

Singer Capital Markets Ltd [R]
04-02-10 BUY 40.82 11.85 5.98 46.63 13.54 6.83

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 40.94 12.05 6.61 53.64 16.98 7.20

1 Month Change 0.07 0.02 -0.02 0.07 -0.02 -0.02
3 Month Change -1.60 -0.52 0.34 -0.20 0.79 0.48


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS -78.34% 248.91% 40.94%
DPS -33.67% -3.29% 8.92%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 54.70m 66.75m 78.72m

EBIT 19.10m m m

Dividend Yield 4.74% 4.58% 4.99%

Dividend Cover 0.50x 1.82x 2.36x

PER 41.76x 11.97x 8.49x

PEG -0.53f 0.05f 0.21f

Net Asset Value PS 13.97p 212.58p 318.43p

Just look at the forecast NAV for 2010 and 2011 and then tell me its not undervalued.....

212.58p and 318.43p.

Its a Strong Buy imo.

Laird should have taken the cash offer of 185p by Coopers Industries in June.

Broker Buy Targets...

Date Company Name Broker Rec. Price Old target price New target price Notes

13 Sep Laird PLC Espirito Santo Execution Noble Buy 225.90 275.00 275.00 Retains
12 Sep Laird PLC JP Morgan Cazenove Overweight 225.90 245.00 245.00 Reiterates
17 Aug Laird PLC UBS Buy 225.90 198.00 235.00 Upgrades
03 Aug Laird PLC Goldman Sachs Neutral 225.90 208.50 235.00 Retains
27 Jul Laird PLC Numis Buy 225.90 250.00 250.00 Reiterates
26 Jul Laird PLC Investec Buy 225.90 225.00 - Reiterates

Espirito Santo leading the way with
a Target SP of 275p.

NORWICH & PETERBOROUGH BUILDING SOCIETY

GF - are you still in these?

IMS due shortly.

Interim Management Statement

Revenue in the third quarter was £133 million (2011: £121 million), up 10% on the prior year. Revenue expressed in US Dollars was $210 million (2011: $195 million). On an organic* basis, revenue was 2% higher year-on-year in the third quarter of 2012, with the month of September showing double digit growth year-on-year. Revenue in the third quarter of 2012 increased 4% on the second quarter of 2012.

Year-to-date revenue at the end of the third quarter was up 3% compared to the prior year, but 2% lower on an organic* basis. For the same period operating margins have improved over the prior year as a result of vertical integration efficiencies and the rationalisation of certain product lines to exit lower margin business.

Our financial position remains healthy with net debt in-line with previous expectations for the full year.

Good solid results imo.

One electronic firm bucking the trend of recent results in the sector.

Yep still in Skinny going to add on march contract at some time.

24 Oct Laird PLC LRD JP Morgan Cazenove Overweight 217.00 216.50 245.00 277.00 Reiterates

RNS Number : 1993Q

Laird PLC

02 November 2012

LAIRD COMPLETES EXIT OF HANDSET ANTENNAE BUSINESS

Laird PLC ("Laird"), a global technology company focused on providing components and solutions that protect electronic devices from electromagnetic interference and heat, and that enable wireless connectivity through wireless applications and antennae systems, today confirms the completion of the sale of its Handset Antennae business assets to Shenzhen Sunway Communication Co., Ltd ("Sunway").

Laird PLC announced on 8 March 2012, the sale of assets and the entire issued share capital of Laird Technologies (Beijing) Co., Ltd. for RMB 198m (c.GBP20m) subject to a minimum level of working capital and subject to certain regulatory approvals being received by Sunway. These approvals have now been obtained.

The transfer of funds for RMB 156m net of RMB 17m withholding tax has been received, as adjusted to reflect an estimate of working capital at completion.

The finalisation of this transaction completes the exit from the Handset Antennae business and allows us to focus on driving our business forward.

Glad thats sorted.

A buy in this weeks shares mag - With a PE of just 9.9 compared to the sector's 15 times rating. Narrowing the gap over the next six months even to a PE of 13 would put the shares on track for 280p .

Back on the rise.

trading statement due?

9th Jan last year

It must be imminent - nothing on their website.

Short & Sweet!

Trading Statement

We are well placed to meet our expectations for 2012 following the trading we have seen in the fourth quarter and reaffirm our intention to recommend a total dividend of 10 pence for 2012.

2012 Preliminary results will be announced on 1 March 2013.

StockMarketWire.com

Laird has appointed Espirito Santo Investment Bank as joint corporate broker alongside JP Morgan Cazenove.

Final Results

Highlights

Financial:

· Revenue from continuing operations of £520.2 million, up 6% on 2011

· Underlying profit before tax(i) of £60.7 million, up 17%

· Profit before tax from continuing operations £45.1 million, up 54%

· Improvement in operating margin to 13.1% (2011, 11.9%)

· Full year underlying earnings per share(i) of 19.1 pence, up 18%

· Statutory basic earnings per share 17.5 pence (2011, (44.8) pence)

· Final dividend per share declared of 6.6 pence (2011, 5.3 pence). Total 2012 dividend of 10.0 pence, in-line with previously announced dividend recommendations (2011, 8.0 pence)

· Cash conversion of 109% (2011, 104%)


Operational:

· Additional capacity on stream to meet strong demand for tablets and smartphones

· Strong margin improvement from new products, vertical integration, withdrawal from low margin business and operating efficiencies

· Major Telematics automotive long-term contracts won for H2 2014

Ex-divi 8th May 2013 (6.6p)

interim management statement 23 October 2013.

RNS IMS positive sp up 6% @240p

StockMarketWire.com
Laird's trading was in line with management expectations in the three months to the end of September, with almost all businesses experiencing growth across their markets.

Third quarter revenue in US dollars increased 15% overall, and 11% on an organic basis, over the comparable period in 2013. Revenue for the third quarter totalled US$251m (2013: US$218m). In sterling, revenue totalled £150m (2013: £141m), a growth rate of 6%, after accounting for currency translation. For the nine months to 30 September, revenue on an organic basis in US dollars grew 11%. In sterling, total revenue increased by 5% to £402m.

Chief executive David Lockwood said: "As expected, Laird performed strongly this quarter, and we have benefited from our strategy of investing in innovation, reliable fulfilment and speed. We will continue to invest in both R&D and capacity to deliver sustainable long term growth. Our expectations for the full year remain unchanged."

Notice of Trading Update and Full Year Results
Laird PLC ("Laird") announces that it will release a trading update on its financial performance for the 12 months to 31 December 2014 on Friday, 9 January 2015.

Laird will announce its full year results on Tuesday, 3 March 2015.

StockMarketWire.com
Laird is confident that its expectations for 2014 remain on track based on trading through the fourth quarter.

Chief executive David Lockwood said: "Execution of our strategy has delivered further good progress through the year and we remain encouraged by the outlook for Laird."

Final results for 2014 will be announced on 3 March.

15 Jan 2015 Laird PLC LRD Liberum Capital Buy 0.00 309.20 350.00 350.00 Reiterates.

SP TARGET 350p.

JP Morgan Cazenove today reaffirms its overweight investment rating on Laird PLC (LON:LRD) and cut its price target to 370p (from 380p)

Berenberg today initiates coverage of Laird PLC (LON:LRD) with a sell investment rating and price target of 230p.

JP Morgan obviously has no clue at all in August with its overweight investment rating.

Is Laird a good buy at 165p now?

Good luck with that!!! Bound to be a bounce at some point, but trading looks difficult.

StockMarketWire.com
Laird says that after a disappointing first half, a significant improvement in the second half was expected, particularly in the Performance Materials (PM) division.

But it says the acceleration of production for mobile devices has come much later than in previous cycles and visibility on volumes remains poor.

In addition, it has experienced increased margin pressure due to unprecedented pricing pressures and some operational factors. This has led to a very challenging trading performance in PM in Q3 and it now anticipates full year group underlying profit before tax to be around £50m. Laird says management is taking actions to stabilise and improve the financial performance of the PM division with a considerable focus on managing costs and cash across the group. It expects year end net debt to EBITDA to be within covenant limits of 3.5x. Revenue in sterling for the third quarter increased by 29% to £207m (Q3 2015: £160m). On an organic basis at constant currency, revenue was lower by 4%.

Year to date, for the nine month period to 30 September, revenue increased 20% to £560m (YTD Sept 2015: £466m). On an organic basis at constant currency, revenue was down 4%.

Chief executive Tony Quinlan said: "We are very disappointed by these adverse developments in the mobile devices market for our Performance Materials division, at a time when other parts of the business continue to perform well. We are confident that the actions we have taken will stabilise and improve the business.

"Moving into 2017, the work to improve our operating model is progressing well and we are on track to deliver the associated significant financial benefits. This, together with the Novero turnaround, as well as the positive momentum in our automotive business, will improve performance next year and beyond."

The writing's on the wall....


The electronics and high performance materials firm has had to massively re-base full year expectations as the smartphones squeeze pinches hard. Laird (LRD) warned that underlying profit before tax for the full year to 31 December 2016 will now come in at about £50m. For the record, that's about 30% shy of the consensus £71m the market had pencilled in.

Investors have been badly burned today, the shares have tanked nearly 46% to 168p, but this bleak writing had been on the wall.

Smartphones slump

Smarphone volumes and orders are being blamed. 'The huge shortfall is attributed to the Performance Materials division, where volumes, pricing and margins at Apple appear to be well short of expectations,' says Numis analyst Nick James today.

In July Shares ran a story on the website, 'Arrested development at Laird', in which we stated:

'At the moment much of Laird's focus is on specialist materials and components for mobile communications, things like high-spec antennas, embedded wireless chips and various radio frequency (RF), microwave and electro-magnetic shielding, much of the latter going into smartphones. And that's part of the problem. Global smartphone sales are in decline, pinching Laird volumes.'

The share price was 293.5p.

Increasing threat

The noose tightened still further and more analysts were getting the jitters by August, prompting us to warn again with the stock at 230p, our conclusion being:

'Most analysts remain bullish on Laird’s longer-term future but it is the near-term on which Berenberg is most concerned, and we share their concern.'

LRD Automotive cars

Laird is taking swift action to stabilise and improve the Performance Materials business, while it has also looked to expand away from smartphones to broaden its markets. Automation and high tech cars are two of its more interesting opportunities, although little ground has been made so far.

'There should be scope to significantly cut the fixed cost base and it will need to be assessed whether Apple and the smartphone market in general represent viable business opportunities,' ominously concludes Numis' Nick James today.

StockMarketWire.com
Laird plans to raise up to £185 million through an underwritten rights issue during the first quarter of 2017.

The company says trading is in line with the update issued on 19th October. Full year underlying profit before tax is expected to be around £50m for 2016 and we expect year end net debt to EBITDA to be within the Group's covenant of 3.5x.

It says the operational improvement programme remains on track. The programme will deliver annualised savings of at least $20m from 2018, with $15m expected in 2017. The total P&L cash cost of the project remains at c.$60m, much of which was provided for in 2015, with c.$30m paid by the end of 2016 and the balance of c.$30m to be spent in 2017.

But the company says the board recognises the high level of leverage (including the impact on reported net debt of the weakness in sterling) and the limited covenant headroom. It has determined that it is in the best interests of shareholders to proactively address the group's financial position.

The board is targeting a capital structure of between 1.0 x to 2.0x net debt to EBITDA in the medium term

Laird says the benefits of a strengthened financial position would be that it:

- Enables continued investment in 2017 to deliver the previously announced operational improvement programme and the associated benefits in 2017 and 2018

- Enables continued investment in opportunities for future growth, in particular in relation to the CVS business

- Provides the financial strength required to demonstrate our ability to support our customers

- Provides a strong foundation from which to assess the optimal route to maximise shareholder value in Performance Materials and particularly Precision Metals

In light of the proposed rights issue, the board intends that no final dividend will be paid in respect of 2016.

Chief executive Tony Quinlan said: "We have identified and assessed the measures required to provide the financial strength and foundations necessary to be able to return Laird to growth.

"Our focus now is on delivering day to day excellence in our operations, including driving the efficiencies from the operating model changes; being wholly customer focused, making Laird easier to do business with. We will also pursue cost efficiency in manufacturing processes as a key deliverable.

"Laird remains fundamentally well positioned in its key growth markets, notably in rapidly evolving ones such as connected vehicles. The proposed amendments to the debt facilities covenants and the proposed Rights Issue will provide us with the balance sheet strength required to take the business forward with confidence."

Admission of Nil Paid Rights
The Company today announces that, pursuant to the fully underwritten rights issue (the Rights Issue) announced on 28 February 2017, 217,156,300 New Shares of 28.125 pence each will be admitted to listing on the premium listing segment of the Official List of the Financial Conduct Authority and will be admitted, nil paid, to trading on the London Stock Exchange plc's main market for listed securities at 8.00 a.m. today.

StockMarketWire.com
Laird has received valid acceptances for 207,345,871 ordinary shares under the four for five rights issue announced on 28 February - a 95.48% take-up.

Laird said J.P. Morgan Securities and Numis Securities would now seek to procure acquirers for the remaining 9,810,429 new shares not validly accepted.

StockMarketWire.com
Laird's underlying operating profit rose by 40% to £29.6m in the six months to the end of June following a much improved performance, with encouraging progress across all three divisions.

Revenues were up 25% at £440.5m and underlying pre-tax profits were up 47% at £24.1m.

Chief executive Tony Quinlan said: "This is a much improved first half performance. I am encouraged by the progress in all three divisions, which reinforces our expectations for the full year, which remain unchanged.

"The recovery has been underpinned by our relentless focus on driving operational improvements and this remains an ongoing priority for Laird.

"We are establishing stronger foundations which will leave us better placed to take advantage of the significant future growth opportunities that exist in our end markets."

Can this Apple supplier bounce again?

08/02/18
Stifel today upgrades its investment rating on Laird PLC (LON:LRD) to buy (from hold) and cut its price target to 135p (from 160p)

RECOMMENDED CASH ACQUISITION
of Laird PLC ("Laird")
by
AI Ladder Limited ("Bidco") a wholly-owned indirect subsidiary of funds managed by Advent International Corporation ("Advent")

Summary
· The boards of Bidco and Laird are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Laird by Bidco. The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.

· Under the terms of the Acquisition, Laird Shareholders shall be entitled to receive 200 pence in cash for each Laird Share held, representing an attractive premium of approximately:

· 72.6 per cent. to the closing price per Laird Share of 115.9 pence on 28 February 2018 (being the latest practicable date prior to publication of this Announcement);

· 67.1 per cent. to the volume weighted average price per Laird Share of 119.7 pence for the one month period ended 28 February 2018 (being the latest practicable date prior to publication of this Announcement); and

· 53.0 per cent. to the volume weighted average price per Laird Share of 130.7 pence for the three month period ended 28 February 2018 (being the latest practicable date prior to publication of this Announcement).

· The Acquisition values the entire issued ordinary share capital of Laird at approximately £1 billion on a fully diluted basis.

· If any dividend or other distribution is authorised, declared, made or paid in respect of Laird Shares on or after the date of this Announcement, Bidco reserves the right to reduce the Acquisition Price by the aggregate amount of such dividend or other distribution.