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.

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

sp reaction still looks well overdone to me ....

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British chip designer CSR nearly doubled revenue and returned to operating profit in the second quarter, helped by demand from carmakers, but its cautious stance on the global recovery sent its shares lower.

The company, whose chip range includes its traditional stronghold Bluetooth, wi-fi and GPS, posted revenue of $220.7 million, up from $112.9 million, and operating profit of $24 million against a $4.6 million loss a year ago.

CSR, however, said it was seeing growing caution in the global economic outlook for the second half, and chip-making capacity was becoming constrained, reflected in its guidance for third-quarter revenue between $220 and $235 million.

The outlook is below analyst expectations of $239.1 million, according to a company-supplied consensus, and shares in the group had fallen 14.4 percent to a 12-month low of 356 pence

Not one I own, but exactly the same cautionary advice is being given by the followers of ARM stock. The initial bounce out of recession is already priced in & demand for chips is now predicted to fall from it's recent high level.

FWIW I distrust cheap shares selling at massive multiples - yes, I know "everyone" thinks it doesn't matter and the price is what the Market will stand - but I get uncomfortable with 0.1p shares selling at 3.55 (that's 3550x face-value).
Makes BP shares $0.25 about 40p look a Real Bargain at 400p (10x face) - and there is a dividend soon-ish I hear say. DYOR.

Does anyone else worry about these "face-value multiples"

EDIT(30Jy10)-PE's pretty steep at 105 (DYOR)

i have never read such a load of total twaddle in my life!!

Up 6-7% at one point and now back to break-even.

Bizarre days indeed and proof once again that a profit should be taken and not left on the table.

Shame on CSR....



CSR responds in US patent action
StockMarketWire.com

UK semiconductor firm CSR has asserted a number of proprietary patents against Broadcom Corporation in the US District Court of California.

CSR's action came after Broadcom filed a motion with the court seeking to add additional patents against CSR, all such Broadcom patents having been asserted previously by Broadcom in its International Trade Commission case against SiRF, prior to the acquisition of SiRF.

CSR said: "Furthermore, based on CSR's inter-partes re-examination requests filed with the US Patent and Trademark Office, the USPTO recently issued initial rejections of all patent claims previously asserted by Broadcom against SiRF before the ITC.

"Also, as previously disclosed, CSR was aware of the Broadcom litigation at the time of acquiring SiRF in 2009, and therefore factored ongoing litigation with Broadcom into business planning for the combined business.

"We will continue our efforts to focus on competing in the marketplace on the basis of our products and serving the needs of our customers.

"Intellectual property litigation is commonplace in our industry and poses risks and uncertainties that may materially and adversely affect or disrupt our business, customer relationships, expenses or results of operations.

"We will continue to take appropriate steps to address any further claims that may be made by Broadcom or any third parties."

Sell this one.

280p now.

This looks bad.