Perhaps it’s time for me to give my month end positions. And I’ll try to say a word about the biggest of them.
My top four (9.9% to 9.3%)
Next four (7.8% to 6.1%)
Then my position size drops down a little (5.1% to 2.2%)
Finally it drops down a bunch (0.7% to 0.6%)
As you see, I’ve retaken a starter position in TSLA. I just couldn’t resist.
SYNA – We’ve talked a lot about this company, so I’ll be brief. They do human-internet interfaces with touch screen technology. They recently bought a fingerprint company that is doing way better than expected. They have a June fiscal year, but I follow calendar years to make them comparable with other companies. For 2012 and 2013 calendar years their revenue went from 540 to 822 million (up 52%) and earnings went from 1.95 to 4.35 (up 123%). Their PE is 16. They have contingent payouts due to the ex-owners of the fingerprint company, but sales are going so well that they had to raise their estimates of what they will need to pay, so GAAP results are deceptively low.
UBNT – Ditto. They have a June fiscal year too, but I also follow calendar years to make them comparable. For 2012 and 2013 calendar years their revenue went from 323 to 452 million (up 40%) and earnings went from .95 to 1.51 (up 59%). Their PE is 19.7. Last quarter earnings were 50 cents, up over 100% from 24 cents. Revenues were up 78%. They couldn’t fill orders fast enough and customers were complaining, so they built inventory up to 6 weeks of sales. This upset the bean-counters and the stock therefore sold off to bargain prices.
BOFI – Our favorite internet bank. Everything is going in the right direction. Last quarter they made 1.00, up 35% from 74 cents. Current PE is 21.8.
CELG – Very successful drug company with one drug producing a large part of their revenue, but a lot of others coming on line. Revenues in 2011, 2012, and 2013 were 4.8, 5.5 and 6.5 billion. Earnings rounded off at 3.80, 4.90, 6.00 dollars per share. Last quarter was $1.67, up 22% from 1.37. Their PE is 24.5. They have the guts to give guidance up to 2017. Here it is:
Revenue of $7.3 to $7.4 billion;
Adj Earnings of $7.00 to $7.20
Revenue of $8.5 to $9.5 billion
Adj Earnings of $9.00 to $9.50
Revenue of $13.0 to $14.0 billion
Adj Earnings approximately $15.00
Note that adjusted earnings of $15.00 !!!
AMBA – Does the chips for special cameras and security cameras, GoPro is a big client, and is talking about an IPO, which would give them the money to expand, and thus would help AMBA. Their fiscal year ends at the end of Jan, so they haven’t yet reported April results. EPS the last three years have been 45 cents, 83 cents, and $1.10. Their last reported quarter (Jan) they made 26 cents, up 44% from 18 cents. Their biggest quarters are July, and especially Oct.
SZYM – We’ve been talking about SZYM like mad. They aren’t making money, but seem to be on their way to becoming a behemoth.
HZNP – Their last quarter their revenues were up over 400% year over year from 9 to 52 million, and up 67% sequentially from 30 million. The risk is the danger that the government will force them to cut their medication prices. Probably unlikely, but possible.
I’m getting tired and it’s late so that’s enough for tonight.