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Earning update: Mindray, GSIT

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GSI Techonology
As I talked in my previous post (a while ago), this is the little semi-conductor (very fast SRAM) stock (Nasdaq: GSIT) I bought a year ago at its IPO. Since its IPO it reported two disappointing quarters at first, more recently it reported two decent quarters (Fiscal Q4, Fiscal Q3). But I sold it this morning due to the following:

1) Lack of liquidity: the daily volume on this stock is thin because of lack of institutional support. Basically if I want to sell, the day after earning report is a good time because of the volume spike.

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Crazy market and GSIT

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Another crazy day, the market traded mostly lower today, until 3:30 PM EST, CNBC reported Ambac will announce it raised capital earlier next week. It seems everyone just can not get enough stocks since then, all the US indices reversed the downward trend and closed higher.

For me, the feeling is like “hew”, my little portfolio turned from down more than $300 to positve! Amazing. I think this (bear) market is tough for the newbies. Honestly, I have been in market for almost 5 years, and I have learned the most in last 6 months.

GSI Technology logo

GSIT: no liquidity premium
GSIT, GSI Techonolgy is a small Very Fast SRAM maker. I have held a few hundreds shares since its IPO. The stock traded heavily today. I don’t know the exact reason. It could be some insiders are selling. Or maybe some institutions are buying. GSIT is one of my disappointment last year. Initially I hope to make some quick money on its IPO. But I was too greedy and end up owning it for almost a year. The company reported two bad quarters until most recent quarter, in which it beats expectation, and issued better outlook.

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I sold MXB six hours too early

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Stocks in review week of Dec 16 to Dec 22

1) I bought some MXB shares on Dec 19. After I read its prospectus more carefully, I found two things I don’t like: it will use the proceeds of the IPO ($225 m) and borrow some $425 m to pay the dividend to its parent, Morgan Stanley; Morgan Stanley still controls more than 90% of its share. So I put up a limited sell order at 29.30 for Dec 21.

On Dec 21 the stock opened at $29.50 and had a huge run from 3:00 PM EST till close. It closed at $33.72. This reminded me 3 years ago I sold my 51job (JOBS) two days too early.

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Lots of conference call

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I need to listen to the following calls because I hold those stocks.

Today: CROX, I don’t want to speculate on this one…too much buzz lately.

Next week
07/31: SNIC, have no idea.

08/01: SBUX, the expecation is more reasonable this time, I don’t expect block buster quarter but I think they should be OK (better than PNRA, maybe?)

08/02: GSIT, they blew up their very first quarter since IPO last time, hope they don’t disappoint this time. Their biggest customer, Cisco, has been strong lately.

The week after:
08/06: MR, I expect solid growth in the US sales; I have no idea about China.

08/07: HLYS, street expectation is low; they blew last CC because of the secondary offering thing. I expect some upside surprise.

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GSI Technology IPO

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(Update 21Mar07) The revenue and net income for past 12 months are $50 m and $7 m respectively, according to IPOHome.  

I received this IPO offer from WR Hambrecht today. Since Xinhua Finance Media (XFML) turned out to be cold, I will be more careful here. Luckily I don’t see JP Morgan on the underwriter list. Besides Hambrecht, I saw Needham, Robert Baird. Both are respected regional investor bankers. A bit about the GSI tech, “The Company develops and markets Very Fast static random access memory products that are used primarily in high-performance networking and telecommunications equipment.”

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