Watch Filtronic (FTC)…

Riz

Experienced member
1,266 5
FTC is a world leader in the design and manufacture of customised radio frequency components and subsystems with eight principal operations: Filtronic Comtek, Components, Broadband, Solid State, Filtronic LK, Sage Laboratories Inc, Filtronic Compound Semiconductors, Sigtek…

Share Price Movements: Worse than our Cookie’s monkey:) …2300 in March, 750 in July, 1400 beg. Of Sept., 860 Nov., 350 beg. Of Dec., 460 end of Dec., 390 Jan. the 10th, 490 Jan. the 19th, 377 Jan. the 26th……

SHARE OF THE YEAR Recommendation by City Confidential at 390…”We believe that the company is very well positioned to capitalise on the huge investment in third generation cellular technology which is set to be made by mobile network operators worldwide over the next two to five years. Filtronic’s solid relationships with these operators and leading handset manufacturers means that the company should become a very significant player in this market over the medium term. Whilst the semiconductor factory in County Durham is proving to be a short term drain on resources, this operation has huge potential in the future to manufacture components for Filtronic’s products as well as for third party manufacturers.

Although the shares are friendless at the moment, we think they could be standing substantially higher in two years’ time as investors’ attention focuses on the roll out of third generation mobiles. The purchase of £1m of shares in the company by chairman Professor David Rhodes at above the current price is a clear demonstration of his confidence in the future and we therefore rate the shares our 2001 Share of the Year.”

Tipped for the top in 2001 - Observer
'The fourth selection, from last year's winner John Hatherly of M&G,
is also a technology stock. He has plumped for Filtronic which, he
says, has 'a fantastic position in mobile infrastructure' and stands
on a prospective p/e of under 10 times for 2003 if all goes to plan.
There are risks - its financial position is stretched and it may not
manage to implement its strategy - but the potential rewards are
high.'

http://www.investorschronicle.co.uk/docs/templates/template1.jsp?Category=BearBull&Issue=latest&ArticleID=14641&ID=Template1A: "..........telecoms components manufacturer Filtronic – has fallen below the loose buying targets that I set in June. My target for Filtronic was 700p. Its shares now trade at 412p, so, superficially, you might think that they are a steal. Trouble is, when I set those targets City analysts were expecting about 20p of earnings from Filtronic in the current year. Now forecasts are down to below 12p following fears that Filtronic was losing orders to supply components for mobile handsets; fears that Filtronic's management hasn't wholly put at rest. So Filtronic's shares are still rated just above the 35 times price/earnings ratio that guided my buying target in the first place."

And finally todays Sunday Telegraph says: A risky punt and strictly for the brave.

Since last week of December the share price has gone up and down twice gaining and losing around 100p each time…that’s caused by the interim results coming closer and closer (tomorrow)…making investors more and more nervous.. are they going to finally get some respite? Are they going to meet City demands for a refinancing, partnership or sale at the troubled Newton Aycliffe compound semiconductors plant in County Durham, which is losing £1m a month or are the margins on mobile handsets are more squeezed? Is the core wireless infrastructure business which growing at 30 per cent as thought?

Any positive answer to one or more of those questions together with a positive news about Newton Aycliffe can see the price flying…

Last week’s sharp decline saw the price breaking the strong 390 support on which it gained 100 recently..next support level is 350 which is year low..at 377.5 the price is not far from the year low…

Last week’s fall caused the price touch the lower BB leaving 10 and 26 Day MA sround the 20 day MA which is well over 400..previously the price has jumped up on each such occasion except for the big fall of around 500 in November…narrowed down BBs look like about to widen up…both Stochastics approaching 20 line where they bounced up on last 2 occassions…MACD histogram shows a possible rise comparing the last 3 curves…

Over all FCT is worth to watch closely tomorrow with a view of recovery BUY…we need positive or not worse than expected results tomorrow…If it’s not marked up first thing in the morning, I’d also look for a bottom to be formed…

rizgar (Riz for trade room users.. :) )

[Edited by rizgar on 28-01-2001 at 02:37 PM]
 

Riz

Experienced member
1,266 5
A bounce finally..up +11 (3.2%) to 356 thus price crossing over the lower BB...stochastics at the bottom line indicating oversell, RSI flat, MFI heaading down, OBV up sharply which is usually the first good sign I get..over all it's still early to predict the start of a fast recovery, but worth watching...

rizgar
 

Riz

Experienced member
1,266 5
Up +12.5(3.6%) to 360 after forming double bottom around 350…it’s worth to note that this is the second time FTC forms double bottom around this level..last time being in beg. of Nov. end of Dec. when it jumped of by about 70 immediately afterwards…the second bottom also shows a jump off the lower BB..RSI and MFI still heading down at the oversold areas…Stochastics have been at the 0 line for a while with D heading slightly up…OBV also has started heading up…overall excluding the negative market sentiment (Nasdaq losing over 100 points on Friday) FTC shows signs of recovery and worth to watch closely with a view to get in once the positive signs/news increase…

(No financial advice intended)

rizgar
 
rizgar,

a nice post on filtronic. I think that the company may have a bright future and agree with your TA.

At the moment I don't like the market and wish well to anybody brave enough to take the risk.
 

titus-uk

1
291 5
Has been in a trading range between 335 and 480, for about 2 months. Have buy signals on various oscillators inc CCI, Trix and stochs. Agree RSI never went oversold. I would be a little nervous at the moment, as people say the Naz is going to have a bit of a retracement over next week or two. May affect stocks like FTC. Would therefore wait a day or two first, to see how it behaves relative to the rest of TMT's.

All the best,
Mark
 

Riz

Experienced member
1,266 5
bucked the trend..

Thanks Mark, yes I got in when it formed double bottom at 350 and started bucking the trend...been up +50 since then..doing good..

Up 30(8.1%) to 400 today...chart still shaping up nicely with price and 5 day EMA heading up sharply..5 SMA touching 10 SMA which is slightly bending up..both stochastics heading up at the oversold area with K above D..RSI also changed direction, up sharply now..all being bullish signs in my interpretation...MFI and OBV flat however..over all still worth watching..

rizgar
 

Riz

Experienced member
1,266 5
up after retracement...

up +12.5 (3.2%) to 400 today...in the mean time tipped in Shares Magazine feature:

Filtronic used to be a darling of the market; now it is the opposite. The City has plenty of reasons. Chairman David Rhodes is cavalier – to say the least – with his estimates. In the course of a lunch last week, his estimate of sales from the Newton Aycliffe chip plant ranged from ‘several hundred million dollars’ to ‘$1billion’. Meantime, he is trying to sell part of this ‘billion-dollar’ plant to conserve cash and rebuild credibility.

But underneath the bluster, Filtronic remains a fabulous business. It supplies components for mobile phone base stations and, less importantly, the aerials for the handsets. Growth is closely tied to mobile phone numbers worldwide, which are still rising at around 200 million a year. Delays in third-generation networks are an issue, but Filtronic is gaining market share in the meanwhile. Newton Aycliffe will not show a profit for 18 months, and will cost another £15 million in losses before then, having already swallowed £40 million for capital equipment. In May, the company hopes to unveil a partner to share the burden.

May year-end profits will be negligible, but supporters expect £20 million in 2002, and £30 million in 2003, even after the chip losses. At around 350p, the company is valued at just £250 million. Clearly there are risks, but the shares could also easily double over the next two years.

(no financial advice intended)

rizgar
 

Riz

Experienced member
1,266 5
still bucking the trend...

FTC bucked the trend once more and end the day up +9 (2.3%) to 409...chart still looking bullish..stochastics and RSI sharply heading up..no sign of OBV turning down yet...

rizgar
 

Riz

Experienced member
1,266 5
Typical MM manipulation on FTC today..worth to observe, without any news/rumours etc. they just pushed the price down by -%32 in the morning...and as the poor shareholders scarred the company was going under rushed to sell their shares, the price just stopped dropping at around 11.00 and soon started to fly up ending the day up +18.5%...now what would Cookie say to this I wonder...a price movement of over %50 in a day...

In the mean time FTC's press release suggested that there was nothing wrong with the company...

Riz
Filtronic PLC - On Target to Meet Forecasts
RNS Number:8491A
Filtronic PLC
21 March 2001

FILTRONIC ON TARGET TO MEET YEAR END FORECASTS

As a result of the recent movement in the Filtronic plc share price, the Board
believes it is appropriate to make the following statement:

With regard to current trading, the Board remains of the view that the Company
will meet current market expectations for financial performance for the year
ending 31 May 2001. This confidence is based upon the continuing strong level
of demand for wireless infrastructure products from our businesses in Europe,
USA, Australia and China and for our cellular handset products business, in
particular for internal antennas for GSM handsets.

The Board believes that the Company's existing borrowing facilities are
adequate to meet the Company's current requirements. Additionally, the Board
confirms that any change to the Company's credit rating would have no impact
on the terms and conditions of the $170m 10% Senior Notes 2005.

The Board confirms that the Company is continuing to pursue discussions with
potential corporate and financial partners in respect of its compound
semiconductor business and that it anticipates making a further statement in
due course and, in any event, before the end of this financial year.

Enquiries:

Professor David Rhodes Executive Chairman & CEO Filtronic plc
Professor Chris Snowden CEO Filtronic Compound Semiconductors
John Samuel Finance Director
Filtronic plc Tel: 01274 530622
 

Riz

Experienced member
1,266 5
And up again today 10 (6.3%) to 170 while the majority of tech stocks going down...this explains why the MMs pushed the price down by %32 first thing yesterday morning...pushing ordinary investors like us out before the price jumps up...so typical

riz
 

Virtual prophet

Newbie
8 0
Re FTC

Filtronic - they used to be on my watchlist, but not any longer. No advice intended or given, sorry I can't be more specific & good luck to holders.

VP
 

ChartMan

Legendary member
5,580 46
mmmmmmm FTC from a low of 92 to 183 in 3 days....currently @ 173
I would have liked some of that...
 

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