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Espirito Santo initiates buy on Premier Farnell, target price 262
Numis downgrades from add to hold, target lifted from 185p to 215p
UBS ups target from 165p to 180p, sell rating unchanged;
Premier Farnell gets a turn in the Times’s Tempus column. As the paper points out the company is a fascinating “bellwether” of the world economy because people order its electrical components “on demand”. It has virtually no forward orders. In other words, what is happening to Premier Farnell is happening to the global economy. Would you buy the global economy right now? Probably not thinks Tempus. Premier trades at roughly 12 times expected 2012 earnings and yields perhaps 4.7%. Not bad, but not going anywhere. Leave.
Fellow electronics developer Premier Farnell (PFL) suffered a poor fourth quarter (ended 29th January 2012), with pre-tax profits falling by 14.3% to 20.3 million pounds. The group's sales in Asia Pacific continued to decline in the quarter, although at a reduced rate of 2.8%, compared to the third quarter's 3.6% fall. However, the firm did substantial reduce its net debt position by 25.8 million pounds to 237.1 million pounds. Premier Farnell shares fell by 7.9p to 220.9p
Shore Capital upgraded its stance on Premier Farnell (PFL) from "sell" to "hold" ahead of Thursday's full year results release. The broker will be focusing on the long term prospects of the electronic components supplier's international electronics design engineering capabilities. Shore noted the firm's ambitions for developing in North America and Asia, but expects the firm to report weak underlying trading, offset by cost cutting measures. The shares advanced 4.8p to 215.4p.
Electronics group Premier Farnell (PFL) remains a "sell" for Shore Capital, which expects the group to report strained revenues in poor market conditions. Gross margins are expected to be stable at around 40%, but with some negative operational gearing the broker anticipates a 50 basis point reduction in the EBITA margin to around 10.7%. Shore believes trading will remain difficult for at least the next two quarters, but an improving US outlook offers hope for the future. The shares grew 3p to 182p
Bargain price is attracting buyers......
Numis upgrades Premier Farnell from hold to add
Yep, Wed 21st September is Ex-div day. I'd still agree that this is a Strong Buy at these prices regardless of the dividend.
Good grief! What a bargain this stock now is. Does anyone know when it goes ex dividend?
Figures in July from Premier Farnell for the first quarter, which indicated some slowdown after previous sharp growth, prompted a 20 per cent crash in the share price — a collapse that has continued since, says the Tempus column in the Times. Premier shares are now back to the level they were at the start of 2010, which seems perverse. The electronics components company yesterday announced its best-ever quarter, the second since a transformation programme aimed at cutting costs and moving sales onto the internet started four years ago. Yet Premier shares fell by 13½p to 158p yesterday, with analysts taking a largely negative view on prospects. The shares sell on about nine times this year’s earnings. This would appear to factor in a fall in profits, rather than a more likely flat outcome, and there is that dividend yield. The shares look cheap long term if you are not too pessimistic on global economic trends, though it may take the market some time to come around to this way of thinking, suggests the Times.
Got to be a strong likelihood of a bid at this silly price. Results were actually as expected, so the drop seems ridiculous.
Way underpriced on todays' drop. Should see 200p on the runup to yearend. I'm in.
Compared to ECM
Indian equipment failure. Deepak trainers were manufactured by Hindustan Aeronautics Ltd (HAL) and it was established that the ‘Deepak’ HPT-32 had major design flaws.
Cannot believe this is down at these levels. No doubt this will be a target soon.............
15 August 2011 Premier Farnell plc (LSE:pfl), has today announced a worldwide stocking distribution agreement with SemiSouth Laboratories, Inc., the leading manufacturer of silicon carbide (SiC) diodes and transistor technology for high-power, high-efficiency, harsh-environment power management and conversion applications. Under the terms of the deal, SemiSouth’s SiC diodes and JFETs will be made available via Premier Farnell’s operating brands, Farnell, Newark and element14, and will be stocked at all of its warehouses worldwide. Further product information documents are also made available via the element14 online community and the new agreement will also be supported via the element14 knode, Premier Farnell’s revolutionary online design platform that is exclusively focused on the needs of electronic design engineers. Dieter Liesabeths, SemiSouth’s Director of Sales said: “We are thrilled to be working with a leading multi-channel distributor like Premier Farnell. This is our first major catalogue outlet and we are excited about the new project opportunities it will drive.” Through Premier Farnell’s global distribution network and element14, Semisouth’s products can be ordered in bulk and are available for next-day delivery. Local language websites and regional offices ensure that Premier Farnell’s customers receive excellent sales and technical support on all its product lines. David Shen, Group Senior Vice President and Global Head of Technical Marketing of Premier Farnell said: “We are pleased that our vast customer base will benefit from the leading performance of the SemiSouth products. These diodes and JFETs are a perfect fit for applications such as solar inverters, hybrid electric vehicles, industrial motors, computing and defence and we will be able to introduce them to design engineers working in these applications.”
8 August 2011 – London, Premier Farnell plc(LSE:pfl), today announced an agreement with Micriµm, a leading supplier of embedded RTOS solutions, to provide free evaluation access to the source code for Micriµm’s µC/OS-III Real-Time Kernel through the element14 knode, enabling electronic design engineers to quickly develop new products. The move is in line with the Group’s focus on providing engineering design solutions, driving business to the web and growing sales in emerging markets. Downloadable from the Operating Systems and Stacks room in the recently launched element14 knode, Micriµm’s ‘source-available’ model for µC/OS-III streamlines the path from evaluation to production. To help ensure that developers evaluating µC/OS-III make the most of the experience, the element14 knode also provides free PDF versions of Micriµm’s book, µC/OS-III - The Real-Time Kernel. µC/OS-III books, compatible evaluation boards, tools and projects are all available from the element14 knode. Developers start the evaluation process by downloading the µC/OS-III source from element14. Once they have decided to use the kernel for production, they can then purchase a license directly from element14 and leverage the fully featured and fully supported industry strength software. µC/OS-III is free to students, professors, hobbyists and professionals for non-commercial use. “We are pleased that our source-available model for µC/OS-III will be a key component in helping design engineers quickly develop new products through the element14 knode, “said Jean Labrosse, founder, CEO and President of Micriµm. “We recognise the added value that the element14 knode offers to the designer and are excited to be a part of its continued development.” Micriµm is a global RTOS leader and a top choice for embedded design engineers building microprocessor, microcontroller and DSP-based solutions. Applications include medical, military and aerospace, industrial, consumer and telecom. “We are delighted to be working closely with Micriµm in the global roll out of their strategy for opening up µC/OS-III source for free evaluation and education,” said David Shen, Group Senior Vice President and Global Head of EDE and Technical Marketing of Premier Farnell. “Our element14 community has changed the way engineers collaborate, and the element14 knode is changing the way engineers can quickly access and configure their design flow solutions. The initiative with Micriµm provides our customers with immediate access to the µC/OS-III kernel and fast, accurate evaluation is a critical step in reducing their time to market.” The µC/OS-III source code and PDF copies of the µC/OS-III The Real-Time Kernel book can be downloaded from http://www.element14.com/community/community/knode/operating_systems
Current share price puts PFL on a far lower rating than ELectrocomponents, and a deal could bring enormous synergies and rationalisations. Ideal opportunity, especially with interest rates this low, which makes any funding for the deal cheaper.
Lumex unveils three new UV LED standard wavelengths at Newark / element14 28.07.2011 QuasarBrite UV LEDs outshine CCFLs--offering longer lifespan, superior light performance, 50% cost savings, up to 70% energy consumption savings CHICAGO, JULY 28, 2011 Newark, a leading multi-channel, high-service electronics distributor in the Americas, announced today it was stocking the newest QuasarBrite™ UV LED technologies from Lumex, which include three new standard wavelengths. Lumex states that QuasarBrite UV LEDs provide up to 10 times longer lifespan, up to 50% cost savings, up to 70% energy consumption savings and superior light performance, as compared to alternative technologies like CCFLs. The RoHS compliant QuasarBrite UV LEDs are now available for same day shipping in standard 355nm (SSL-LXTO46355C), 365nm (SSL-LXTO46365C) and 377nm (SSL-LXTO46375C) wavelengths in a through-hole format. They are ideally suited for a wide range of applications including: security (counterfeit detection for currency, passports and other travel documents) forensic (applications related to forensic analysis of bodily fluids) photo catalyst (for air and water purifier applications in homes, offices and automobiles) “Previously, widespread use of UV LED technology, especially in the shorter UV wavelengths, was hindered because the materials used in the epoxy LED lens degraded the lifespan of UV LEDs to less than 5,000 hours,” explained Kay Fernandez, Product Technology Manager, Lumex. “Recent technological developments have allowed the epoxy lenses to be replaced by a robust TO-46 package with a glass lens, making it possible for QuasarBrite UVs to last 10 times longer- with life spans of over 50,000 hours.” “Innovations like these represent our continued commitment to stock the latest technology products for design engineers,” commented Jeff Uden, VP, Product Marketing, Newark. “It will be exciting to see how many uses designers will find for the shorter UV LED wavelengths.”
Singapore, 26 July 2011 - element14 (formerly Farnell), the industry’s first fusion of commerce and community supporting engineers and purchasing professionals worldwide, today announced the expansion of its 130,000 strong inventory to include terminal blocks from FCI, one of the world’s largest connector manufacturers. element14 is the first in Asia Pacific to stock the new range of FCI high performance signal and power terminal blocks, as both companies continue to strengthen their relationship and commitment to provide the most relevant and effective connector solutions to the engineering community in Asia Pacific. As consumer and industrial requirements drive the demand for more intuitive and compact end products even further, engineers must adapt to increasingly complex designs as well as multiple integrated subsystems. Innovative connector solutions provide crucial links between the diverse subsystems and allow engineers to create an integrated and logical structure within the equipment or device. Terminal blocks are staple components in every circuit as they provide convenient and effective solutions to link the multitude of wiring enclosed within. FCI connector solutions utilise cutting edge rising-cage clamp technology allowing engineers to establish perfect connection which are long-life and reliable even after repeated usage. The FCI terminal block series are available in various configurations and sizes. The modular system of these components include from 2 to 24 positions in various pitch-sizes ranging from 3.50mm to 7.62mm and wire sizes, for signal and power solutions. The robust designs of these terminal blocks ensure durability of up to 200 cycles, which significantly improve the lifespan of end products and minimise the need for repair and replacement. The versatile nature of these components also allows for greater flexibility to operate optimally even in a wide spectrum of demanding applications in industrial, instrumentation, and communication environments.
Newark, a leading multi-channel, high-service electronics distributor in the Americas, announced today an exclusive stocking agreement for Wakefield Solutions’new LED heat sink extrusions. Wakefield and Bridgelux engineering teams worked together at Newark’s behest to design an optimal heat sink extrusion line which is compatible with all Bridgelux LEDs. While very efficient, LEDs produce heat that must be dissipated in lighting designs and retrofits, and this is often a challenge for engineers who do not have an extensive thermal management background. Wakefield’s new heat sink extrusions save engineers the considerable time it can take to match the right heat sink with the right LED. Offering the maximum thermal management performance, they can accommodate top or side mounting with Bridgelux LEDs. "LED lighting systems continue their rapid growth in multiple markets,” comments Wayne Frerichs, President and CEO of Wakefield Solutions, Inc. "Our collaborative design effort to align our newly-developed heat sinks with unique LED arrays will provide Newark's customers with the lighting performance they deserve." “We are committed to offering engineers innovative solutions that increase performance,” says Jeff Uden, VP Product Management, Newark. “With products from more than 500 top manufacturers available to ship the same day, our customers can also count on getting their orders just when they need them.” An extrusion selector guide, white papers and Wakefield thermal management products are available at www.newark.com/wakefield-solutions Newark’s element14 engineering community also offers excellent resources to assist engineers throughout the lighting design process, including a lighting microsite and access to Wakefield engineer Joe Mennucci for technical chat. About Newark/element14 Newark and its innovative online element14 engineering community, are both businesses of the global Premier Farnell Group (LSE:pfl), a leading multi-channel, high-service electronics distributor supporting millions of engineers and purchasing professionals around the world. Stocking components and test equipment from 500+ top manufacturers, Newark is known in the US, Canada and Mexico for providing the broadest electronics selection for same-day shipping. Customers do business with Newark through multiple sales channels: contact centers, a local branch network, field sales force and websites at www.newark.com and www.element14.com.
19 July 2011, London - In line with the company’s focus on Electronic Design Engineers, driving business to the web and growth in emerging markets, Premier Farnell plc (LSE:pfl), has announced new additions to its class-leading global support services. The roll-out of a new suite of services, which includes engineering specialist technical support and 24-hour ‘Live Chat’ covering key technology areas, further extends the Company’s leadership in customer support, setting a new industry benchmark for service offerings, service levels and customer responsiveness. All Specialist Technical Support team members are certified in their respective disciplines and benefit from vendor and manufacturer training, keeping their technical knowledge current and in-depth. Premier Farnell’s support services benefit design engineers with content-rich, personalised 24-hour technical support when designing with Newark, element14 and Farnell’s huge range of electronic components. The support team is connected globally to a vendor and manufacturer support network, providing one of the best customer support experiences in the electronic design engineering market. Premier Farnell’s 24 hours a day ‘Live Chat’ web-based service enables a direct connection between design engineers and Premier Farnell’s support engineers. The service complements the company’s existing real-time telephone and e-mail support and, as with these existing services, is available in a wide variety of local languages. The direct connection between design engineers and Premier Farnell technology specialists is further enhanced through new technical support services that focus on key ‘domains’ such as embedded design, test and measurement, power, analogue technology, passive components, optoelectronics and electromechanical devices. Currently Premier Farnell’s support services are accessed by over 500,000 users a year and are credited for saving customers significant time and development costs associated with creating electronic products for its customer base.