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

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.