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Pin to quick picksSolid State Share News (SOLI)

Share Price Information for Solid State (SOLI)

London Stock Exchange
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Share Price: 1,490.00
Bid: 1,470.00
Ask: 1,510.00
Change: 5.00 (0.34%)
Spread: 40.00 (2.721%)
Open: 1,485.00
High: 1,490.00
Low: 1,485.00
Prev. Close: 1,485.00
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Sunday share tips: Solid State, Cordiant Digital

Sun, 09th Jul 2023 23:45

(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of electronics manufacturer Solid State to its readers.

"Solid State shares have risen over the years but, at £12.60, there is plenty of room for further rewards.

"[Chief executive officer and finance director] [Gary] Marsh and [Peter] James are a strong team, the business is well regarded and the push overseas is already delivering results. Buy."

Marsh and James's stated aim was to deliver shareholder returns in excess of 20% each year until 2030.

Worth noting, a prior goal, set in 2018, to double group earnings over five years was surpassed in 2022.

Just last week they got off to an auspicious start, reporting record results for the year ending on 31 March as sales jumped by 48% and profits by half.

And while the duo was "extremely fussy" when it comes to potential deals, they were eyeing up some interesting purchases.

Last summer, Solid State bought US-based Custom Power, in a bid to reap the rewards from the Biden administration's Inflation Reduction Act and the drive towards renewable energies and electric vehicles.

The Sunday Times's Lucy Tobin recommended shares of digital infrastructure fund Cordiant Digital.

She noted how the shares had been dumped amid the rise in interest rates during the past year, pushing their value 25% below that of its portfolio.

Yet few would deny the importance of its assets, including telecoms towers, data centres and fibre networks, she argued.

Furthermore, the company's portfolio companies had delivered 8% growth in revenues for the year to April and announced a 4.0p dividend payout, three years ahead of schedule.

"The racing pace of tech development brings risks as well as benefits to Cordiant. It would be hammered if fibre networks become outmoded or regulators set out price controls on digital infrastructure," she said.

"The opportunities, though, are vast: as tech adoption swells, AI penetration kicks in and autonomous vehicles roll out, data transfer will grow. Plug into Cordiant Digital."

More News
5 Jul 2016 09:46

Solid State's profits rise by 40%

(ShareCast News) - Solid State, a supplier of specialist industrial computers and equipment, reported an increase in full year profits as it begins the new financial year with a good order book. The company's profit before rose by 40% to £4.2m in the financial year ended 31 March 2016. Turnover also

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23 Jun 2016 13:11

Thursday broker round-up

(ShareCast News) - Ascential: Goldman Sachs reiterates buy with a target price of 278p. Sophos: UBS keeps at buy with a 300p target. SSP Group: JP Morgan keeps at overweight with a target price of 335p. Vodafone: HSBC upgrades to buy with a target of 175p. Bae Systems: Berenberg downgrades to hol

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25 Feb 2016 15:26

Solid State loses MoJ electronic offender tagging contract

(ShareCast News) - Solid State's £34m contract to provide electronic offender tags has been terminated by the Ministry of Justice (MoJ). The AIM-listed company's Steatite subsidiary, which recognised £3.5m of revenue as part of the mobilisation element of the contract in the first half of the year,

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29 Oct 2015 14:29

Solid State warns on profits after contract delay and market softening

(ShareCast News) - Despite making a robust start to the year, electronic components supplier Solid State warned revenues and profits for the year will be well below market expectations after a major contract was rejigged. The AIM-listed company, which supplies specialist 'ruggedised' computers, elec

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17 Jul 2015 16:42

Solid State's chairman sells shares to meet demand from shareholders

(ShareCast News) - The chairman of Solid State sold £0.37m worth in shares in the company to meet further institutional demand following upbeat full-year results. Anthony Frere sold 47,996 shares for an individual price of 775p, bringing home a total of £371,969. Following the transaction, Frere ho

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4 Jun 2015 10:44

Solid State secures £1m contract with Renishaw

Solid State, an electronic components manufacturer, has secured a £1m contract with Renishaw for the suply of its semiconductor devices. Under the agreement, Renishaw will use the devices of Solid State's supplies division in its metrology products. Renishaw will be able to import the component dir

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24 Nov 2014 11:10

Solid State reports surge in first half pre-tax profit

Electronics manufacturer and distributor, Solid State, has reported a sales and profit increase for the six month period to 30 September. Solid State posted a 40% increase in sales to reach a total of £17.1m compared to £12.2m in 2013. Pre-tax profits also surged to £1.5m, up 175% from £564,000 a ye

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