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Maldon District Council has comprehensively rejected planning permission for the development of 29 acre Oval Park, despite CML offering £2m of incentives to the council. This is quite a blow given the scale of the objections and it would appear that the site cannot be developed in the medium term and thereforethe land has no investment value over that timescale. CML share price therefore now represent full value at £3 and should be regarded as a hold. I have sold my holding on this news as better investment opportunities can be found elsewhere
Daniel Stewart retained its "buy" stance for CML Microsystems (CML) with a 351p target price. The broker said that the microchip manufacturer achieved stable gross margins and costs, while improving its net cash position in the first quarter of its financial year. Daniel Stewart also noted that flash solid state storage accounted for 46% of total revenues in the previous financial year and believes that the start of shipments of the firm's SATA-based solid state technology will help drive growth in the new year. On the broker's forecasts, the shares trade on a prospective earnings multiple of 12.3 times for the year ending March 2013, falling to 10.1 times in 2014. Shares in CML were unchanged at 302.5p.
CML Microsystems Buy 02-Aug-12 £15,899.20 Ronald J Shashoua 5,230 @ 304.00p CML Microsystems Buy 01-Aug-12 £14,500.00 Ronald J Shashoua 5,000 @ 290.00p
CML Microsystems Sell 02-Aug-12 £174,420.00 Nigel G Clark 58,140 @ 300.00p
Daniel Stewart reiterated its "buy" recommendation for CML Microsystems (CML) with an increased target price of 22.9p, from 19.8p. The semiconductor manufacturer reported sales growth of 6% for the year ended March 2012, to 23.41 million pounds, roughly in-line with the broker's forecast of 23.92 million pounds. Daniel Stewart believes that the firm's core Hyperstone solid state memory product will be a key component of its clients' long term development plans, providing high revenue visibility. On the broker's projections, the shares trade on a prospective multiple of 12.1 times for 2013, falling to 9.9 times in 2014. CML shares were unchanged at 271.5p.
"Efforts continue in this regard and have the potential to contribute meaningfully to cash reserves and enhance the Group's growth objectives". How much and when? this could be worth as much as £1 a share which is not reflected in the price for this resaon it remains a strong buy .
Up 8% lets hope that reflects the results tomorrow. Also more news on property deals would be good.
.Watchlist 230.
25% in a couple of weeks. No news. Does anyone know WHY?
Daniel Stewart initiated coverage on CML Microsystems (CML) with a "buy" recommendation and 351p target price. The broker said that the semiconductor manufacturer has developed a strong position in the flash memory microcontrollers market following the acquisition of Hyperstone. Additionally, the Wireless IC business accounted for 42% of first half sales and the broker noted that it diversified the group's revenue base. The broker forecasts earnings of 19.8p for the year ending March 2013, putting the shares on a prospective multiple of 14.3 times. The shares inched down by 0.5p to 283.5p
I hope we will hear more on the residential housing development of the Oval park site soon, up to 150 houses could be built on this CML owned 29 acre site. This could generate as much £1 a share, on estimates that this could be worth up to £15m for CML. Very interesting if it happens.
270p to buy 268p to sell
The only way is Essex and the only way is UP.......
Lots of buy orders on todays interim management statement. This share still has a long way to go before it reaches fair value, realisation of property assets should generate a lot of cash exceeding the current book value by a consideralbe measure.
Outlook The Group remains on track to record good growth for the current financial year. The Board remains confident that the existing strategy for both customer and product range expansion will lead to further solid progress thereafter.
Trading Update The Group's operating results through to the end of the period under review continue to be ahead of both the prior year comparable and earlier internal expectations by a satisfactory margin. Total revenues are in line with historic trends which traditionally see a slightly weaker second half to the full financial year. Shipments of semiconductors into industrial and professional wireless applications continued to be firm. Through the period a number of new products were released to market that are expected to both consolidate the Group's existing market position and also begin to drive adoption across wider markets. Particularly pleasing are the sales revenue gains from the Group's flash memory controller chips for use within industrial solid state storage devices and embedded computing platforms. Previously announced new products have commenced sampling at key customers and are currently on track to begin contributing to Group revenues during the next financial year. The Group received close to US$700k, net of costs and taxes, following the sale of its North American commercial property announced in November 2011. Any overall enhancement to current year profits is not quantifiable at this stage due to a pending professional revaluation of certain other Group properties prior to the financial year end. As previously reported, the Board continues to provide appropriate resources to realising capital from the Group's commercial property assets. Gross margins and costs remained within target range and the Group's net cash position has been strengthened. There have been no other material events or transactions to report since 1 October 2011.
http://www.investegate.co.uk/Article.aspx?id=201202210700067558X
Fundamentals are , CML is generating lots and lots of lovely cash. Not just from its core manufacturing activities, but from property deals. This cash will be passed on to the shareholders. STRONG BUY
Get in there, seems £3 by september was a tad pessimistic, well what about £4 by the end of the year?
Rock-Tenn Converting Co. acquired 4800 Bethania Station Rd. in Winston-Salem, NC from CML Microsystems, Inc. for $1.1 million, or about $39 per square foot.
From the above "Recent buys are mostly going well. That includes CML Microsystems (LON:CML) which could have a very good 2012, there are plenty of hints in the last statement we could see some interesting developments and some bigger buyers on the scene make me think something good is on the way here. It's trying to crack 230, if it can crack the previously sticky 240 could be a very bullish sign giving an eventual possible 300".
Momentum is building, £3 a share by September
Lots of buy orders going through today.This is good news, fasten your seat belts and prepare for take off.
Maldon District Council Case No. 11/01075/SOR. If you wish to research. STRONG BUY
Also see that CML was tipped by the Express newspaper as one its shares for 2012. STRONG BUY