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I too have been following RFMD for awhile, and more recently have picked up shares of both TriQuint and Anadigics. I enjoy drawing parallels between various tech universes, but honestly never thought of the logical connection between RFMD and Vari-L. Realizing though that the RFIC world will gain more exposure in coming years, I liken it to the wireline Comm IC world (I'm sure ralesipvh has heard this before from me, but no on SI) inhabited by Broadcom, PMC, AMCC, Vitesse, Conexant, and Globespan (MMC, Galileo, TranSwitch are less important). The wireless infrastructure market is still considered Qualcomm, Nokia, Ericsson, and Motorola's, respectively. Discerning investors will nto Lucent and NorTel's basestation share, but the component makers are largely undiscovered. Look at where Broadcom, PMC, and AMCC stand-three of the largest-capped semiconductors since people realized that Cisco, Lucent and NorTel do not make all of their own "stuff." I expect simialr returns in the RFIC world. But I recall RFMD selling at a few bucks (before any splits) not many months ago, with quarterly revenues in the teen-millions. A possible path for Vari-L to follow...? Who really knows, but the financial performance will inevitably bring the stock higher. I'm not at all concerned about this holding. |
