CML Microcircuits Share Price (CML)

Liontrust confident in CML recovery

CML Microsystems is rising on growing confidence in its recovery, says Liontrust manager Anthony Cross.

The designer and manufacturer of radio frequency semiconductors used in the global communications sector is the tenth largest holding in the Liontrust UK Micro Cap fund, where it makes up 3% of the £52m portfolio.

CML enjoyed a 44% share price gain in May with the rise appearing ‘to have reflected growing confidence in a recovery after its April trading update pointed to improving momentum’.

‘The company reported that second-half revenue grew by around 18% versus the first half, with full-year revenue expected to exceed £20m, supported by improved order intake,’ said Cross.

Although UK equities, particularly on the lower cap end of the spectrum, continue to struggle Cross said it is a ‘compelling juncture for the portfolio’.

‘Our quality metrics are as high as they have ever been, while valuations are at all-time lows,’ he said.

‘Valuations remain a key part of the opportunity. The fund’s price/earnings ratio is at its lowest level since launch, while free cash flow yield and dividend yield are at their highest monthly data points since launch. We believe this does not reflect the underlying growth and quality of the portfolio.’

Https://www.linkedin.com/posts/eumweek_eumic2026-eumw-eumw2026-activity-7477664843311845376-zNAV?

Just do a small bit of research and take a view on how the 5pm of spending for drones could impact this company

Also look at the etf DRN

"CML has returned over £30m to shareholders over the last six years"

Exactly. They exist simply to benefit long term loyal shareholders with land disposals etc. That £30m could of been used in r&d expanding the business further. Ambition is lacking but being prudent and safe is a better description here

For drones, Analog Devices and Infineon are the ones you should be in . Not CML. Xmoney pays better interest at 6% than the 4% cml offer btw.