Got Some GSIT GSI Technology

I did not got it from the IPO allocation. WR Hambrecht did call me but I was not near the phone. When I called back, they told me they already offered the shares to others. This may be a good thing as the share was priced at 5.50, below the original price range of 6.50 to 8.

I got the GSIT at the open market instead. My limit order of 5.22 was fulfilled. I based my order on 0.26 earning per share (this is 9 month number for fiscal 2007), and PE ratio 20. I did not read the S1 carefully, but did noticed the SRAM market is expected to grow from 1.06 b in 2006 to 1.12 b in 2010. Maybe this is a turn off point for the potential buyers? We all know Wall Street is obsessed with growth, growth, growth,…

On a separate matter, I noticed Super Micro Computer (SMCI), had its IPO debut too. It went from 8.00 to 9.00 after the price cut. When I bought my first PC in 1998, the mother board was made by SMCI 🙂  

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