A new thread for Cambridge Silicon Radio, a bluetooth play for 2004.

Cambridge Silicon Radio Holdings Ltd, the Bluetooth technology group that is about to list on the London Stock Exchange, said its offering will be priced at 160-200 pence a share.

The indicative price range corresponds to an offer size of 54-68 mln stg and a market capitalisation for the company of 192-239 mln stg after flotation.

CSR designs and manufactures single-chip radio devices - focusing initially on solutions for the 2.4GHz Bluetooth personal area networking standard. The background and experience of our development team give CSR a unique advantage to help OEMs exploit the new wave of wireless networking, allowing us to offer the most highly integrated single-chip Bluetooth solutions, which are based on commodity CMOS technology with all its inherent advantages.

www.csr.com

===

CSR, which has secured over 70 mln usd of funding from a number of investors including Compaq Corp, Philips Electronics NV, Sony Corp, Intel Corp and 3i Group PLC, was founded in 1998.

The company claims on its Website to be the world's leading provider of Bluetooth, accounting for 60 pct of all Bluetooth end-products.

Bluetooth is a low-cost, short-range radio link between mobile PCs, mobile phones and other devices, enabling users to connect a wide range of devices easily and simply, without the need for cables.

Hey look at this one lads....goldman sach with NEW COVERAGE..... going up in the world here.....500p target .

14-Aug-09 CSR CSR Goldman Sachs Neutral 454.90p - 500.00p New Coverage

perhaps prematurely, have banked a very respectable profit as market(s) could be in for a (sharp) correction after this extended northerly run

Hmmmm you may be right....... or may be wrong...... hope that makes sense.

of course it does ..... but all of us - Master RSI excepted it would seem - make bad decisions, of which selling prematurely is rarely one .... as we all know to our cost, it's hanging on too long (greed!) and finding the juicy profit has cost us our house (requiescat in pace maestro)

sticky ..... may be right to get back in here .... chart looking pretty good and Intel's figures must help sentiment if nothing else

strong trading update rns this morning ..... sp has recovered sharply and now challenging 25 dma and 50 dam not far above ..... i think this stock still has plenty of puff over the coming months .... note Intel's results and also ARM also (i think) indicated positive outlook

CSR chart looks very positive now that we have a breakout from the downtrend channel. Sector is very hot at the moment aswell.



Long term looking at overcoming resistance at 550p qand then 600p.



Fundies looking solid aswell.....

Citi group with historical 550p target...

Broker recommendation
Date: 12 October, 2009

Broker: Citigroup
Company: CSR


Recommendation:
Raises price target to 550p from 500

InterMarket Stock's recommendation rating:
Buy

And since xmas we have had some pretty bullish broker recos with a forward P/E to results 2011 at just over 14 FOR A TECH LEADING stock.

CSR PLC

FORECASTS
2010 2011

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Exane BNP Paribas
08-01-10 HOLD 50.60 18.29 64.63 24.39

Panmure Gordon
08-01-10 BUY 70.90 27.41 83.10 33.11

ABN AMRO
22-12-09 HOLD 65.08 26.23

Seymour Pierce
18-12-09 BUY 40.78 17.63

Milkstone Ltd
14-12-09 BUY 50.02 21.76

Edison Investment Research
11-12-09 None 60.95 21.36

Noble & Company
10-12-09 None 42.81 25.40 59.87 33.00

Singer Capital Markets Ltd
07-12-09 BUY 36.30 19.90 43.10 23.60

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

EBITDA 59.91m 69.58m 82.35m

EBIT 39.14m 46.94m 60.97m

Dividend Yield % % %

Dividend Cover x x x

PER 15.64x 19.98x 14.64x

PEG -0.42f -0.92f 0.40f

Net Asset Value PS 176.30p 264.28p 507.40p

LOOK AT THE NAV above.


Looks far too cheap to me.

i hope to many others too .... i bought these in mid october and am still waiting to get into profit!

results last year were on the 10th of Feb so I expect them around that date or maybe a little earlier.

If we go back to 3/4tr statement we should be looking for......


London: 29 October, 2009: CSR plc ("CSR") today reports strong third quarter results:


Guidance: Fourth quarter revenue expected to be between $180m and $200m

Hopefully towards the upper end.

Reckon we will get a good run up to the 10th.

New broker target...

CSR Panmure Gordon Buy 442.50p 525.00p 550.00p Reiter

550p target.

Going back to the list of broker recommendations I posted earlier today Ive been delving a little further and can now put some SP targets down for the analysts who have tipped the stock...

Date Broker name New Price Old price target New price target Broker change

08-Jan-10 Panmure Gordon Buy 442.50p 525.00p 550.00p Reiteration

03-Dec-09 Seymour Pierce Buy 420.00p - - Reiteration

19-Nov-09 Bank of America Buy 434.40p 540.00p - Reiteration

30-Oct-09 Royal Bank of Scotland Buy 446.80p 500.00p 575.00p Reiteration

30-Oct-09 Citigroup Buy 446.80p 550.00p - Reiteration

I think Seymour Pierce have upgraded from Buy at 420p but cant find the data.

So we have a list of SP targets from 500p upwards to 550p so it would appear there is plenty of upside to come fingers crossed.

TFC - company had very strong Q4 - see rns of 10/2 ...... with "real" markets now recovering, the likes of CSR as well as Intel and prob ARM must surely be serious beneficiaries ..... ditto the likes of Apple etc

A word of caution, be careful of resistance at 510p

that's certainly true .... may take (part) profits around that level, with a view to re-buying if/when upward break again

Electronics is not my strong suite. l held both ARM and WLF for what seemed an eternity and only got out with a wiped face . To be honest i dont understand half of it anyway .l know the tech involved here as i have it myself................... But as you know every trader,or in my case ex trader, has his discipline and mine is energy -and both hard and soft commodities.l rarely buy anything outside those sectors. But as i said earliar Mr. C> l see very limited upside on current trends with 500p+ only being achieved with a lot of huff and puff with a brick wall at 510/520p - mais qui sait !!! ? ln addition this tec what with the speed of advancement could be obsolete in six months .l strongly agree with PTH on resistance at 510p levels. l Not one for me personally; but i am happy to watch.. WOW- Who on earth bought at 900p? That cliff style drop reminds me of the hi tec sell off in 2000........Happy days for me; but not for the vast majority unfortunately. ....good to see g/finger still posts-like your good self,one of the nice guys

can one have a bright beacon shining among the glistening intestines lying on the floor?
if so, then this surely is one, with sp rising a comfortable 5% this morning following some very good figures

Sorry to be P-Pooper, but these are 0.1p shares currently changing hands at 4000x their face-value (when issued). If they do issue a dividend it's my opinion that it will be quite small (per share) and at that point the stock will correct to give a yield in single-figures - (let's say, this is equity-normality).
IMHO - the PE ratio tells it all - other views, please...

which bit of what looked like stunning results did i miss?

The outlook wasn't great I think and also they said they'd made an acquisition but I can't find the details about it.

you're right .... outlook cautious, but my reuters link down for the moment .... will post again later