Zeev,
Valence is again up nicely today, to 22 3/8 on over 200,000 volume just an hour or so into the day. Have any opinions on it?
Also, Tower Semi has made a nice move since I last posted, up to 33 or so today from 18 just a couple of months ago. They have just gotten a $75 million investment from Sandisk in return for a 10% stake in the company, valuing it at about twice the currect open market value. Apparently they will also get $300m from the Israeli government, helping them to build a new fab. This investment is in addition to an investment by Toshiba. I bought an initial stake in TSEM earlier at 18 1/2, but sold half at 27, am thinking about adding some more. Hate to do it after such a nice move, but Hararri's investment makes me think it will be a good long term move as well as perhaps a good short term trade. Do you have any new thoughts on it?
Best wishes,
Sam
P.S. We should know on Thursday afternoon how much Sandisk stock Seagate still has. I'm hoping that they are down to their last million shares, or less. Should lift one cloud over the stock. If their earnings are as robust as I hope (if that talk about production problems was smoke, and they weren't capacity constrained), I think the stock may well take off after their CC, and, general market permitting, go well beyond your 109 target, as MU did earlier in the year.
But then, that is possibly just wishful thinking. |
