Semiconductor Packaging (SEMX) Message Board

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Technology Stocks : Semiconductor Packaging (SEMX)

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To: DELT1970 who wrote (535)	10/21/2001 10:03:24 AM
From: DELT1970	Read Replies (1) of 545

SEMX Corp. was written up by Jim Salim in the long and short report. Nasdaq symbol: SEMX Current Price: $2.02 October 15, 2001 The concept of risk/reward always dominates my investment decisions. I look for companies trading at less than half the value a strategic buyer would pay in a private or public transaction. This usually involves microcap stocks that fall below the institutional radar screen. SEMX Corp has sales of seventy million dollars and a current market cap of approximately thirteen million dollars. The company's technology is outstanding, as confirmed by it's blue chip client base which includes IBM, Motorola, and Lucent, to name a few. The company sells products to the microelectronics and semiconductor industries. With a book value of $5.53 per share, a take out price of $5.50 to $7.00 would be a steal for a strategic buyer. The stock price has dropped from the $7.00 range to the $2.00 area as the US and world economies have worsened over the past year. The company recently hired Compass Partners, headed by Steven Waters, former Co-CEO of Morgan Stanley-Europe to sell one of its divisions. Compass will evaluate an offer from management and seek outside offers as well. The company is a perfect fit for a merger with a large strategic buyer. I feel the division will get sold shortly followed by a sale of the entire company. The stock sells at a fraction of its real value and management owns 25% of the company. Look for a sale in the $5.50 to $7.00 area. If I'm wrong and SEMX stays independent, it's a pure play on the economy. When the economy returns to 3% GDP growth, SEMX sales and earnings should explode.

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