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ACTS.O

ISIN: US00507E1073
SEDOL: B0N7FL3

Rating:

BUY

Target Price:

2.49 USD

Investment Horizon:

6 to 12 months
7th May 2009 View Report   Download

1Q 09 News Alert

Despite deterioration, Actions Semiconductor Co., Ltd.’s (Actions) 1Q 09 results were significantly above our expectations, while Management’s 2Q 09 revenue and gross margin guidance lies in line with our previous expectations. The current stock price continues to trade well below the company’s current cash and cash equivalents per share (US$3.05 per share at the end of 1Q 09) and therefore we maintain our BUY rating for the Actions ADR. We will reassess the ADR1 rating…

16th Mar 2009 View Report   Download

4Q 08 & FY 2008 Update Report

The company, which derives a major portion of its revenues from the US, has guided for another exceptional sequential dip in top-line in 1Q 09 (-31% to -50% q-o-q) as consumer demand declines further in what is already the seasonally weakest quarter of the year. According to a forecast for non- Apple market shipments in the Portable Media Player (PMP) market segment for 2009 provided by the company in January 2009, shipments are…

22nd Jan 2009 View Report   Download

4Q 08 News Alert

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Actions Semiconductor Co., Ltd.’s (Actions) 4Q 08 and FY 2008 results were significantly below our expectations. Management’s 1Q 09 revenue and gross margin guidance also lies significantly below our previous estimates. Consequently, we intend to revise downward our estimates in our next update report. Therefore, although the target price does not support a HOLD rating, we downgrade the Actions’ ADR1 from a BUY to a HOLD....

31st Dec 2008 View Report   Download

Company News Alert

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On 30 December 2008, Actions Semiconductor Co., Ltd. (Actions) lowered its revenue and diluted EPS guidance for 4Q 08, reflecting deteriorating consumer demand and unfavorable currency movements. Although, we expect the revised forecasts to adversely impact our estimates and target price, we do not anticipate a change in our rating given that the ADR still trades at a significant discount to the company’s current cash and…

21st Nov 2008 View Report   Download

Company News Alert

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The ADR price has declined substantially since our 3Q 08 update report in line with broader stock market movements as a result of upheaval in financial markets. Our broad outlook for Actions Semiconductor Co., Ltd. (Actions) remains unchanged, as recent stock price depreciation has pushed the valuation further below the company’s current cash and cash equivalents per share (US$3.18 per share at the end of 3Q 08) and therefore we…