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

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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.

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

==========

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.

was a holder, but sure am glad i got out a couple of months back

Chart is horrible best wait a while before getting back cynic.

looking much better today...worth a bet.

Have recently taken posession of a Panmure Gordon Blue book, in which CSR is a 'buy' for the following reasons:
Non-handset business is growing strongly with good margins.
Weaker revenues in handsets are temporary market dynamic, not an indication of product proposition, in our view.
Strong cash position, valuation looks attractive.
Target price 620p. (no time scale given).

Has been tipped by many tipsters in the new year.

Poor tip obviously... 620p target.

CSR underlying operating profits fall


CSR's first half underlying operating profits dropped by 31.5% to $24.3m - despite an improvement in the second quarter.

Underlying revenues for the six months to 1 July fell 9.1% to $357.8m and gross profits fell by 4.6% to $177.0m.

Questor share tip: CSR sticks to what it knows best




7:16, Tuesday 13 December 2011

The decision by microchip manufacturer CSR (LSE: CSR.L - news) to save $60m (38.5m) a year by bringing to an end planned digital television investment was welcomed by investors, sending the shares up 9.77pc.

CSR 183.1p +16.3 Questor says HOLD

CSR is to halt investment in its digital television systems-on-a-chip and silicon tuners businesses, which it acquired as part of Zoran (NasdaqGS: ZRAN - news) , the US rival it bought last year. It will instead focus on areas where it is market leader. The move will cost it an extra $10m of restructuring costs by the end of the second quarter next year.

Investors were reassured that the company continued to expect fourth-quarter revenues to be in line with guidance in the range of $230m to $250m.

"We continue to take a disciplined approach to capital allocation and cost control," said Joep van Beurden, CSR's chief executive. "The actions we have announced today will allow us to increase our focus on the areas of the business that offer the best prospects for delivering sustained and profitable growth."

He said investment would be focused on voice and music, automotive "infotainment", cameras, document imaging, gaming and Bluetooth low energy technology. Clearly management have made the call that its share of the markets it is quitting did not merit continued investment, and focusing elsewhere was seen as a wise move by analysts.

"They are doing more than just pruning they are cutting out the dead wood," according to Ian Robertson, an analyst at Seymour Pierce. "They are achieving material cost savings for minimal loss in short, medium and, realistically, long-term revenues."

CSR exists in a highly-competitive, high-tech sector, which requires it to innovate continually or to die.

Last month it unveiled a new chip which for the first time will pinpoint the location of a device to within 10 metres.

By working indoors, the chips will allow people to use their mobiles to track friends within shopping centres, for example, and enable retailers to target customers with offers or adverts as they enter the store.

With investment comes opportunity but also risk.

Questor says hold

On a good run at the moment, taking a slight pause for breath today.

Nice news and markup today. Any views?

A BUY posted up on the weekly candles.

White Bullish candle.

http://www.britishbulls.com/weekly/StockPage.asp?CompanyTicker=CSR&MarketTicker=Technology&Typ=S